Solana Price Prediction: SOL Surges 6%, But Experts Say Consider This ICO For 100X Gains
Release: 2024/10/21 19:44 Reading: 802
Solana Surges, Testing Resistance at $170
Solana's price witnessed a 6% surge within the last 24 hours, reaching $167.73 as of 4.45 a.m. EST. Notably, its trading volume soared by a remarkable 92% to $3.34 billion.
As the fifth-largest cryptocurrency, Solana's market cap currently stands at $78.7 billion. In the past week alone, it has experienced a 10% increase, approaching the resistance level at $170. While SOL initially breached this resistance briefly, climbing to $170.8, its price later receded.
Reaching $170 remains a significant achievement, marking only the fourth time this year that SOL has attained this height. Previous attempts occurred in March, May, and late July. On each occasion, SOL proceeded to surge higher, hitting $180, $190, and $200 in March.
Solana Price Prediction
Solana has emerged as a significant weekly gainer alongside Dogecoin among the top 10 cryptos by market cap. However, upon reaching $170 resistance, a sell-off appears to have commenced, leading to a sharp price drop. It's important to note that this decline is consistent with broader market trends.
Technical indicators suggest a potential sharp correction. Solana's Bollinger bands have widened, typically a positive sign, but its price has moved from the upper band to the lower band, signaling a bearish trend. SOL currently continues to push the lower band downward, indicating strong bearishness.
The project's Relative Strength Index (RSI) supports this view, though it hints at a possible recovery. Overbought conditions prompted an RSI drop, reaching a current value of 36.16. Should the RSI fall below 30, traders may interpret it as a buy signal, potentially triggering a SOL price rebound. At present, $165 serves as a strong support level, but further declines could push the price down to $160.
Promising Alternative to Solana
While traders assess the ideal time to invest in SOL, many are also exploring Pepe Unchained (PEPU). This presale has raised over $21.26 million, making it one of the year's most successful.
Pepe Unchained positions itself as an enhanced version of the meme coin Pepe, boasting technological superiority due to its dedicated blockchain. PEPU's Layer-2 blockchain offers lightning-fast transactions and extremely low fees, unlike the original Pepe, which operates on Ethereum and faces slow speeds and high costs.
Beyond its blockchain innovation, the project is developing its own ecosystem, including a native block explorer, a decentralized exchange (DEX), and plans for a PEPU Foundation to support developers.
Prominent YouTuber ClayBro, with over 130k subscribers, anticipates a significant 100x growth potential for PEPU upon its launch.
Currently, you can acquire PEPU tokens for $0.0112 using ETH, USDT, BNB, or a credit/debit card. Act promptly as the price will increase once $6.4k worth of tokens remain.
[Visit the official PEPU website here.](https://www.pepeunchained.com/)
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