Buyers Take Control, Here’s Their Next Target

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com For the Solana (SOL) cryptocurrency, buyers appear to have majority control of the asset, as its price has been climbing for the past week. SOL has been on the rise in the past 30 days, climbing as much as 36 % in that span. This week, its surge can be attributed to a healthy cryptocurrency market, led by Bitcoin (BTC) reclaiming $100,000.The Solana cryptocurrency is now comfortably trading above $160, climbing over 7% on Friday alone. The Solana Network is picking up steam, with network activity up in the past few weeks. The total value locked in the SOL network is up 25% in the past month alone. DEX volumes have nearly doubled as well, with Sanctum and Raydium seeing most of the action. Many experts suggest that if this momentum continues, more bullish signals will flash, perhaps sending SOL beyond $200.Solana’s first target on the price charts before hitting $200 would ideally be $186. With SOL sitting nicely above its $150 lower resistance, investors are watching closely how SOL moves over this weekend. With trading volume up 40% in the last 48 hours, they are actively buying and moving around SOL, indicating increased hype around the asset. Additionally, open interest in SOL futures recently climbed to 38.7 million contracts. The futures in total are now worth more than $5.8 billion and rank third in the market.Also Read: Turned $1,000 into Pepe Coin After Musk’s First Meme? Here’s What It’s Worth TodayFurthermore, Solana meme coins are hot once again, and they are dripping that momentum into Solana’s native cryptocurrency as well. All of these factors play into the asset climbing to start May, and paint a bullish picture for the coin’s potential in the remainder of the month.If Solana SOL could breach $180 by the end of this weekend, its chances of hitting $180 are extremely high. Alternatively, the crypto market is volatile, and any hindrance to SOL could send the altcoin back down towards $150. According to CoinCodex analysts, Solana (SOL) could enter a sideways trajectory over the coming weeks. The platform anticipates the asset’s price to dip to $136.18 on May 24. SOL’s price will face a 9.45% correction if it falls to $136.18. This is the most bearish scenario, though, which doesn’t seem too realistic now, given Solana and the market’s recent success.Source link