Solana Price Predicted to Skyrocket: Highest Investment Inflow, SOL Heads to $200?

Bittime - Solana (SOL) has shown significant trading activity over the last 24 hours. Bulls and bears fiercely fight over price levels that fluctuate throughout the day. At the time of writing, the altcoin was trading at $140 during European trading hours, experiencing a small rebound of 2%, according to data from CoinMarketCap.

Trading volume increased significantly by 66%, indicating increased investor interest. The market capitalization is currently around $65 billion, securing Solana's position as the fifth largest cryptocurrency by market capitalization.

Solana Price Prediction: Will Recent Gains Sustain?

Over the past week, the price of Solana experienced a small decline, dropping more than 5%. Prices oscillated between $122 and $150, reflecting market adjustments and usual volatility. At its peak, the price reached over $154 despite the ongoing market correction.

Source: TradingView

Solana Price Prediction As Investment Inflow Hits Record, Can SOL Hit $200 This Summer?

The cryptocurrency market is stabilizing, providing an opportunity for a potential increase in Solana's value. Despite the recent downturn, Solana has achieved impressive annual growth of 543%.

Solana recently surpassed Ethereum in terms of investment flows, securing over $16 million, surpassing Ethereum's $10 million. According to a report from CoinShares, this surge is part of a $441 million wave of capital pouring into cryptocurrencies.

Check Today's Crypto Market:

This increase in funding, thought to be a reaction to recent price drops, presents a new buying opportunity. Significantly, the US market has been a major contributor, injecting $384 million into digital assets. This shift underscores changing investment preferences and cryptocurrency market dynamics.

Technical Indicators Show Growth Potential

SOL's market performance shows promising growth, with expectations that it may be able to overcome the significant resistance level at $150. If this level is broken, it could indicate a positive trend, potentially increasing towards the $160 target. If this momentum continues, Solana could face a crucial resistance point at $200.

Conversely, if bearish pressure increases, Solana price prediction may retreat to the $135 support level. Further declines could push it to the $120 zone, indicating a shift towards more bearish market sentiment.

Also Read How To Buy Crypto:

The 4-hour technical indicators for Solana indicate neutral to slightly bullish sentiment. The Relative Strength Index (RSI) indicator is at 54, indicating conditions that are neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing a mild bullish crossover with the MACD line starting to move above the signal line, indicating potential upside momentum.

Source: TradingView

Bollinger Bands on the 4-hour chart for Solana show periods of significant volatility, with price oscillating between the upper and lower bands. Additionally, the Chaikin Money Flow (CMF) indicator has risen to 0.26, indicating increasing buying pressure, indicating a potential upward movement if it continues.

Conclusion

With increasing investor interest and technical indicators supporting growth potential, Solana has a chance to reach the crucial resistance level of $200 this summer. However, market volatility and bearish pressure remain factors to watch out for. Investors should continuously monitor market developments and technical indicators to make informed investment decisions.

How to Buy Crypto in Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SUN) and other cryptos to find out today's crypto market trends in real-time on Bittime