Will $300 Be the Next Stop?

As Bitcoin surpasses the $99,000 mark, with a new all-time high of $99,314, Solana shares the momentum to hit a new ATH. With a 10% surge in the last 24 hours, the bull run in SOL price powers tailwinds for other altcoins. 

Will this fresh bullish trend drive the SOL price to $300 as it enters the uncharted price levels? Let’s find out in Coinpedia’s latest Solana price analysis.

Solana (SOL) Price Performance

In the weekly chart, the SOL price action showcases a descending triangle breakout rally, completing a cup and handle pattern. This pattern breakout with the neckline at the $249 mark has resulted in a new all-time high for Solana. 

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Currently, it is trading at $262, with a 24-hour high of $264. As the bullish trend continues, SOL price action is on the verge of completing the third consecutive bullish week. 

As Solana is trading at uncharted levels, the underlying bullish momentum is teasing an uptrend continuation. Furthermore, with the broader market recovery at play and Bitcoin inching closer to the $100,000 mark, Solana is likely to hit the $300 mark. 

Technical Indicators:

MACD: Supporting the bullish trend, this indicator gives a positive crossover with a spike of bullish histograms.

Will Solana Hit $300?

Based on the Fibonacci levels, the upside price target for Solana is at $602.92. This price coincides with the 1.272 Fibonacci level on the logarithmic chart.

On the flip side, a retest of the $250 breakout is possible if the buying pressure recedes. 

Curious about Solana’s future? Read Coinpedia’s latest Solana (SOL) Price Prediction for future price targets.

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