Solana’s price for quite a long time is speculated to be more or less stagnant as the asset had squeezed out the volatility. Despite the decreased popularity, the asset managed to break out from narrow consolidation. Moreover, the asset is showcasing a huge possibility of ranging towards the upper target beyond $100.
The asset reached its highs during the Q4 of 2021 and ranged above $250. Further, it quickly shed its gains and bottomed hard, igniting a strong parabolic move. The SOL price is consolidating is currently at the beginning of the consolidation in the range of $88 to $122. Despite the price break above $100, the strong uptrend cannot be validated. As buying assets between $88 to $100 is very risky at the moment. However, the possibility of the asset going parabolic to hit $150 emerges.
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Solana’s price is currently gaining huge bullish momentum as the price is all set to breach through the uptrend line. The price is currently testing the crucial trend line and a successful breach through this line may ignite a significant uptrend. The SOL price rally may lead to an uptrend towards $150 as predicted by a popular analyst. And hence the analyst believes it may be the best time to enter Solana.
However, the growing Solana ecosystem may pave the way for the SOL price to rise high and secure safe positions. According to some reports Solana is collaborating with PUBG published Krafton to develop future game projects and also invest in the NFT space together. And with the positive development within the ecosystem, Solana’s price may get impacted at the highest.
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Source: https://coinpedia.org/price-analysis/sol-price-price-primed-to-hit-246-during-the-mid-q2-2022/