SOL price shows potential for growth due to the upcoming Alpenglow upgrade and increasing interest in the Solana blockchain.
Alpenglow Upgrade for Solana
The Alpenglow upgrade is anticipated to be one of the most significant in Solana's history. It will reduce transaction finality times from 12.8 seconds to approximately 150 milliseconds, potentially making Solana the fastest layer-1 blockchain, surpassing Sui and even standard Google search speeds.
Catalysts for SOL Growth
Apart from Alpenglow, there are three main factors that could lead to gains for SOL. Firstly, World Liberty Financial has launched its USD1 stablecoin on Solana, enhancing liquidity for DeFi protocols. Secondly, trading volume on the platform has surged, setting a record of $43.88 billion in August. Lastly, there has been a significant increase in the total value locked in Solana's DeFi ecosystem.
Technical Analysis of SOL Price
On the daily chart, SOL has recently been trading within a descending triangle pattern, which is often regarded as bearish. However, the Supertrend indicator has signaled a buy, and MACD lines are trending upwards, indicating strengthening bullish momentum. If SOL breaks above $203.49, it could rally to $257, suggesting nearly a 30% increase.
Thus, upcoming updates and growing interest in Solana could drive significant price growth in the near future.
