The Solana (SOL) price is steadily rising, exceeding $190 and reaching a daily high of $190.14. This positive trend is supported by recent market changes and forecasts in the cryptocurrency sector.
Current Market Situation for Solana
At the time of writing, Solana is priced at $190.08, with a market cap of $88.60 billion and a circulating supply of 471.02 million coins. These figures make Solana the fourth most favored cryptocurrency. SOL has shown an impressive 37,131% growth since its all-time low of $0.5052 in May 2020, although its current price is 27.67% below the all-time high of $260.06.
Forecasts for SOL/USD
Analyzing the current chart, SOL/USD has successfully broken past the $165 level, establishing this area as a key support zone. Breaking resistance at $186 could lead to further bullish momentum and reach new target zones between $200 and $210. A break above the resistance levels at $205 and $215 may lead to growth up to $225.
SOL/BTC Movement and Forecasts
Against Bitcoin, SOL/BTC is consolidating upward, trading above the 9-day and 21-day moving averages. Further growth could target the resistance level at 2700 SAT. @AltcoinScholar, a prominent analyst on X (formerly Twitter), identified a breakout in $SOL with an immediate target range to refresh to $190-$192.
Current market conditions demonstrate Solana's capability to continue its growth. With support from stable technical indicators and market enthusiasm, the coin has the potential to firmly position itself above $200.
