Solana

The post <a href="https://coinpedia.org/price-analysis/sol-price-eyes-250-as-solana-enters-new-bull-cycle/">SOL Price Eyes $250 As Solana Enters New Bull Cycle</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Ranking amongst the top 5 players in the crypto industry, <a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noreferrer noopener">Solana</a> has been a turnaround story. Rising above the $200 mark after trading at a low of $10 last year, the SOL price trend reflects commendable resilience.&nbsp; 
Further, the altcoin shows another bull cycle as it bounces up from the ascending support trendline. Will Solana sustain the bull cycle to hit the $500 mark in 2024? Find out more in our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price prediction</a>.&nbsp; 
<h2 class="wp-block-heading" id="h-solana-price-performance">Solana Price Performance</h2> 
With a 600+% jump since last October, the SOL price trend is rapidly trading upwards, creating an ascending trendline. The bull run crosses above the $200 mark before the recent dip to the support trendline at $126. Further, the pullback accounts for a 37% fall in April.&nbsp; 
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<a href="https://www.tradingview.com/x/zionKO28/">TradingView</a> 
Nevertheless, the high demand at the support trendline, the $120 demand zone and the 50% Fibonacci level reinstates the bull run. With this reversal, the SOL price jumps by 23% in the last 7 days.&nbsp; 
Currently, the Solana token trades at $156.87 with an intraday move of 2.59% and a 157% increase in trading volume. With increased volumes, the uptrend is heading higher to reach the $200 mark.&nbsp; 
Technical Indicators: 
MACD Indicator: The MACD and signal lines are turning positive and give a bullish crossover.&nbsp; 
RSI: The daily RSI line shows a bullish divergence playing out well as the uptrend in Solana gains momentum.&nbsp; 
<h2 class="wp-block-heading" id="h-will-sol-price-cross-200">Will SOL Price Cross $200?</h2> 
As the broader market recovers, the SOL price is heading higher and signals a healthy recovery in the last 7 days. With the bullish trend in motion, Solana prepares for a jump beyond $200. If the SOL price crosses the 78.60% Fibonacci level, the altcoin could hit $258 in May.&nbsp; 
On the flip side, a reversal from the $165 supply zone or the 61.80% Fibonacci level could retest the $150 or $135 support level.&nbsp; 
Also Check Out : <a href="https://coinpedia.org/price-analysis/altcoins-show-strength-while-bitcoin-stuck-within-a-range-wld-near-rndr-price-close-to-triggering-a-fresh-upswing/">Altcoins Show Strength While Bitcoin Stuck Within A Range: WLD, NEAR &amp; RNDR Price Close to Triggering a Fresh Upswing</a>

SOL Price Eyes $250 As Solana Enters New Bull Cycle

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