Here’s Why Solana Price Could Explode to $150 Soon

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Here’s Why Solana Price Could Explode to $150 Soon

Highlights

  • Solana's ETF inflows signal rising institutional interest and accumulation.
  • Solana integration by Coinbase enhances retail accessibility and ecosystem usage.
  • The increase in revenue of Solana gives it a strong base in the crypto market.

Solana price has remained above the $130 support level despite a recent market downturn. The price dropped by 4% over the past 24 hours. This followed a sharp sell-off earlier today, pushing the price down from $138. 

The volatility increased, and an increase in the volume sold proved the presence of pressure on the downside. Nonetheless, market analysts are optimistic that Solana will in the near future explode $150. 

Bitcoin price recent drop to $90 contributed to a broader market decline. This led to a decline in the entire crypto market cap to 3.06 trillion. The fall was expected following the anticipated 25 basis points rate cut by the Federal Reserve. Other altcoins, such as Ethereum and XRP, were also bearish.

Key Factors That Could Propel Solana Price to $150

Solana price has recently caught the attention of investors, with a potential surge to $150. This optimism gets boosted by the growing institutional interest, especially with the introduction of Solana-based exchange-traded funds (ETFs).

To date, Solana ETFs registered a remarkable inflow of $16.6 million yesterday, which points to an increase in institutional purchases of the cryptocurrency.

Besides the ETF inflows, the Solana ecosystem is also developing at a high rate. The blockchain platform was at the top in terms of application revenue, with it exceeding 3.6 million in the last 24 hours.  Such developments indicate that Solana is establishing itself as one of the participants in the crypto market.

Coinbase Boosts Solana with Direct On-Chain Swaps on DEX

One of the biggest promotions to Solana was made by Coinbase, which has increased its support to Solana tokens. The exchange also supports on-chain swaps, which can now be carried out on its Solana power based decentralized exchange (DEX).

This integration will make the process of trading easier by allowing the user to pay using USDC, cash, bank account, or a debit card. The relocation of Coinbase is an important measure that will result in greater accessibility of the Solana ecosystem to consumer users.

Moreover, institutional demand towards Solana continues to pick up momentum with Invesco Galaxy developing towards the introduction of its Solana ETF. 

The company has recently submitted a Form 8-A with the SEC, indicating that the new fund might go on the board as early as next week. These events might trigger a major resurgence in the price of Solana in case the rest of the crypto market rebounds.

Can SOL Price Reach $150 in Next Price Surge?

The SOL price traded at $130 at the time of writing, reflecting a modest decline of 0.63%. 

The MACD histogram still indicates bearish momentum, and the signal line points above the MACD line.

This may indicate that additional force towards the downward pressure will be possible in the short term. The RSI value is at 50, which implies that the market is at a neutral position and there are no hard overbought and oversold features.

The next critical Long-term Solana forecast price levels to monitor are $140 for resistance and $130 for support. A break above $140 could see the price target $150, a move that would mark a 15% increase. 

Here’s Why Solana Price Could Explode to $150 Soon
SOL/USD 4-hour chart: Tradingview

Conversely, if the Solana price fails to hold at $130, further downside to the $120 level could be expected.

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Frequently Asked Questions (FAQs)

1. What is driving the potential price surge of Solana?

Solana's price surge potential is driven by growing institutional interest, Solana ETF inflows, Coinbase integration, and ecosystem growth.

2. What role do Solana ETFs play in its price growth?

Solana ETFs are attracting institutional investments, with $16.6 million in inflows, signaling increased demand and support for Solana.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

SOL

Solana

$132.0025 -4.6%

24 Hours volume

$6.43B

Market Cap

$74.16B

Max Supply

NA

Buy $SOL with MEXC
About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.