Solana Price Prediction as SOL Becomes 5th Largest Coin in the World – Can SOL Overtake Ethereum?
SOL’s chart is in a good position insofar as it has dipped a little in the past hour or so, and is now ready to enjoy another short-term rally.
Its relative strength index (purple) fell close to 50 earlier this morning but is climbing back up again, in a sign of returning momentum.
Also promising is the 30-day average (orange), which continues to rise further above the 200-day (blue), providing the kind of signal that you see during growth spurts.
Another similar signal comes from the resistance (red) and support (green) levels, which are rising in parallel again after Solana began recovering towards the end of last week.
Combined with a volume that has reached $5 billion today, this all suggests that Solana has enough momentum to post gains over the next few days, before correcting little.
Today’s rally comes following positive news recording the possible approval of spot-based Ethereum ETFs this week.
While this news most directly affects ETH, it has undoubtedly increased market-wide bullishness, with some traders believing that it also makes a Solana ETF likelier