SOL Price Hits $150, Can It Top $200 in October After Token2049?

With Bitcoin hitting $64K at the moment, altcoins are witnessing a large surge in demand. Amid the bull market, Solana on Token2049 releases main improvement bulletins, fueling the rally in SOL worth.

Will Solana’s optimistic introduction of latest merchandise and partnerships result in the SOL worth rising above $200 in October? Learn extra about our Solana worth evaluation beneath.

SOL worth efficiency

Within the every day chart, Solana worth motion exhibits {that a} new bull cycle is gaining momentum. Over the previous three days, Sol worth has risen 14.50%, creating three consecutive bullish candles.

Trading view

As Solana hits the psychological mark of $150, it’s buying and selling with an intraday achieve of 5.47%. The general bull run over the previous two weeks has seen a worth enhance of 20.52%, taking help from the essential $125 degree.

With the completion of the reversal, SOL worth is approaching the neckline close to the provision zone of $160-$163. Thus, the tectonic shift in Solana helps the bullish rally and teases a continuation of the uptrend.

Technical indicators:

EMA: The 6.36% bounce final evening, making a bullish engulfing candle, surpassed the 200-day and 50-day EMA. Furthermore, the bullish restoration, which rises above the dynamic strains, eliminates the potential for a deathcross within the brief time period.

RSI: Whereas the restoration rally confirms dominance over the psychological barrier of $150.55, the every day RSI line spikes to 61.58, approaching the overbought boundary.

Will Solana cross $200?

Because the bull run in SOL worth varieties a triple white soldier sample, the pattern momentum is offering momentum in the direction of the provision zone of $163. Moreover, based mostly on the Quarterly returns from SolanaQ3 and This autumn may enhance altcoin worth for a breakout rally.

Due to this fact, the breakout of the rounding backside will set off a BUY sign for worth motion merchants, which can present enormous upside potential. Based mostly on the value motion ranges, the Solana breakout run may surpass the 52-week excessive and purpose for the $250 mark. Interested in the way forward for Solana? Learn our Solana (SOL) worth forecast for an outline of long-term targets!