Current Solana price: ranges around $186-191 with strong upward momentum supported by technical patterns such as the ascending triangle and rounded bottom. The currency has surpassed key resistance levels at $175-188, reflecting increased interest from institutional and retail investors, especially with Bitcoin's dominance declining and the acceleration of the altcoin season. The high trading volume (over $1 billion daily) indicates strong market activity. Solana's advanced technology, including high transaction speeds and its ability to support decentralized applications (DeFi and NFTs), supports sustainable growth.
Forecast:
Short term (2025): technical patterns suggest a price increase to $260-350 targeting 2021 highs ($260)
And the potential to reach $340-350 upon the completion of the rounded bottom pattern. However, a short-term correction to $190 may occur if momentum declines.
Influencing factors: increasing demand for decentralized applications, developer support, supportive legislative developments for cryptocurrencies, and market volatility.
Recommendation: It is advised to trade cautiously while monitoring support levels ($160-180) and resistance ($260). Risk management is essential given market volatility.
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