Altcoin SOL reclaims $200 price range.
A further pump over 33% would mean a new ATH for the price of SOL.
Most altcoins follow ETH’s lead to reclaim their previous ATH prices.
The altcoin market continues to flourish following Bitcoin’s (BTC) latest ATH price of $123,000. Most recently, the altcoin Solana (SOL) set a new trend high. In detail, SOL reclaims $200 price range, meaning that a further pump over 33% from there would mean a new ATH for the price of SOL. SOL went as high as $204, just $90 away from its previous ATH at $294. Can the crypto market expect a new ATH soon?
SOL Reclaims $200 Price Range
The crypto market has been long awaiting for legacy and already existing altcoins to hit new ATHs this bull cycle. In the latter half of 2024, when the price of BTC went on to set a string of new ATH prices, the prices of altcoins were already pumping alongside it. In fact, some new altcoins like SUI, FET, and ONDO went on to set new ATH prices. However, other altcoins barely pumped.
Historically, the altseason peak phase of a crypto bull cycle would occur in Q1 following a Bitcoin Halving year. This year, due to Bitcoin setting a new ATH before the Bitcoin Halving event, the following Q1 phase instead experienced a prolonged correction period. This is because the price of BTC needed to go through a crucial correction phase so that it could bring about a much healthier market for altcoins, mainly ETH, to finally thrive.
Most analysts confirmed that altseason would start only when the price of ETH would begin to pump, and it was during this long correction phase that the price of ETH finally bottomed at $1,700 and immediately pumped to $2,700. After BTC set a new ATH, corrected again, and hit its present ATH price, the price of ETH pumped once more to shoot past the $3,000 price range and is closer than ever to the $4,000 price region.
Pump Over 33% Will Bring New SOL ATH
It is this ETH pump that altcoins seem to have been waiting for, since finally, other altcoins began to pump in Q3, when BTC closed Q2 in its highest close yet. With the crypto market in a healthy condition, and ETH price steadily pumping towards its previous ATH price, altcoins have finally started to follow its lead. Presently, the altcoin catching all the attention is Solana (SOL), as the asset just reclaimed the $200 price region.
https://twitter.com/coingecko/status/1947477475526938739
From the post above, and CoinMarketCap analytics, we can see that the price of SOL reclaimed the $204 price range, which is just under 33% away from its previous ATH set 6 months ago at $294. Presently, the altcoin boasts a total market cap of $107,605,536,531.32 at a 24-hour trading volume of $13,213,756,875.11. The asset is currently trading just around the $200 price range, and analysts hope to see new ATH prices for SOL very soon.
