The first four months of the year were a struggle for many US markets. The chief of them was Crypto, but he was unable to generate any kind of momentum until the last week. Things have changed because of assets like Solana. Solana is now 56% at market rally, and Sol appears to be heading towards a price of $200.
The Crypto market has been greatly boosted by Bitcoin reaching six-figure prices for the first time since February. However, with many geopolitical uncertainties still present, there are still some questions about whether growth is sustainable. There is one clear fact. Crypto market rally is set up to include Solana tokens, which could be one of the most promising investments the industry can offer.
Also Read: Sol Strategies worth 122,524 SOLANA (SOL) $20 million
Solana jumps 56% as the market flourishes: what’s next for Sol?
On Thursday, the US and the UK (UK) announced major trade agreements. The move has shown that a rise in negotiations is taking place, slightly mitigating geopolitical and macroeconomic concerns. At the forefront of an impressive response was the crypto sector.
Bitcoin attracted a lot of attention as it surged beyond the $101,000 level. However, it is Solana that shouldn’t be overlooked. According to Coin Market Cap, it appears to be barreling towards a $200 price after riding a jump of over 56% to the entire cryptocurrency market gathering.
Also Read: CME Group Officially Launches Solana (Sol) Futures
The asset took part in the year as one of the most well-known crypto investments on the market. Specifically, along with Bitcoin and Ethereum, they were poised to adopt legitimate locations as top-level crypto options. Now it is in a rather important position, with its short-term future potential increases or decreases.
Solana is expected to continue to increase rapidly. One analyst noted that if the momentum continues, the next upward target should emerge at a peak of $190. In fact, it matches the retracement level of 0.382 Fibonacci. However, there are still several reasons to be concerned.
The report points out that there is an important space between Solana’s important moving average and the relative strength index. These indicate that the card may contain lateral integration, or potential modifications. If that happens, it could be that $150 fall is approaching. Meanwhile, it managed to feel good about itself on the way to reach the $200 price.