Here is a summary of the key points from the article about Solana (SOL) price predictions
🔶 Current Market Situation
The price of SOL stabilized at 153.79$ after a week-long downward trend.
Despite a 13% drop over the past week, it has maintained a monthly gain of about 4%.
The market shows signs of nearing a price bottom, opening the door for a potential upward bounce.
🔶 Technical Analysis
The DMA-30 (30-day moving average) is about to cross bullishly with the DMA-200, which is a bullish signal.
The Relative Strength Index (RSI) indicates that the coin has reached oversold levels (reading near 30).
A head and shoulders bottom pattern has formed between March and May, which is a well-known bullish technical pattern.
🔶 Price Predictions
The price is expected to retest its lowest levels in April in preparation for a new rise.
Upcoming price targets:
200$ by the end of June
250$ by the end of July
400$ by the end of the year
The price is still 47% away from its historical peak ($293).
🔶 Fundamental Factors
Solana ranks second in blockchain by total value locked (TVL).
There are important upcoming updates that will enhance performance:
Alpenglow consensus mechanism
Firedancer architecture for transaction auditing
🔶 Promising Emerging Project: Solaxy (SOLX)
The first Layer-2 solution on the Solana network.
It is nearing the end of its public offering in 13 days, at a price of $0.001744.
Raised over $43.5 million so far.
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