News and Analytics

0

Solana's Path Towards $200: Potential Bulls Rally to $250 in April 2024

Mar 30, 2024

As the markets near the end of the quarter, volatility is on the rise, but bullish sentiments are not strong enough for an imminent rally. Bitcoin has remained stagnant around $70,000, signaling a lack of a major bullish surge in the near future. On the other hand, altcoins like Solana, Litecoin, and Pepe are exhibiting significant strength. Particularly, Solana's price is approaching a critical resistance level, which, if surpassed, could pave the way for a move towards $250.

Despite a decrease in trading volume from over 12 million to under 6 million, the bulls have been leading the rally decisively. Solana's price seems poised to end the quarter on a bullish note, potentially setting the stage for a positive trajectory in April leading up to the Bitcoin halving event.

The recent rebound in Solana's price indicates strength, with key resistance around $200 posing a challenge for the bulls. Nonetheless, the rally is being supported above crucial levels, hinting at the possibility of a new uptrend. However, a temporary pullback could be in the cards as the stochastic RSI favors the bears.

In summary, Solana's price outlook remains bullish, although intermittent bearish pressures may lead to temporary setbacks. A potential dip towards $182 to $185 is likely, but a drop below $180 seems less probable. Overcoming short-term bearish trends could clear the path towards $250, and potentially even $300, as the cryptocurrency market gears up for an upcoming bull run post the Bitcoin halving event.

Comments

Latest analytics

NOT Pixel: New...

NOT Pixel: New game on Telegram

How to become the...

How to become the best in Major: a detailed review of the...

Show more

Latest Dapp Articles

Show more

You may also like