Solana Price Spikes With Analyst Sighting $200 As Next Pivot

18 May

Solana's price surge to $173 has sparked optimism among investors, with experts hinting at a potential rise to $200. The surge is driven by positive sentiment and upcoming upgrades, such as the Frankendancer upgrade. Syncracy Capital's co-founder Daniel Cheung expressed confidence in Solana's strength, highlighting its potential to reclaim $200. He also highlighted the potential for Solana (SOL) to reach $200 by the end of the month, a significant reversal in the monthly timeframe and readiness for new highs.

As anticipation builds, Solana (SOL) remains a key focal point in the cryptocurrency market, with prominent players in the digital asset space attracted for its potential to reach new highs. BitMEX co-founder Arthur Hayes shared the Solana (SOL) price chart and advocated for accumulating the crypto in a blog post from early May.

As of writing, Solana's price soared 3.01% to hit $173.25, after reaching a 24-hour high of $174.16. Despite the rally, its trading volume fell 25% to $2.71 billion, and the Solana Futures Open Interest soared 4.91% to $2.32 billion, suggesting a bullish sentiment in the market.

The asset has a Relative Strength Index (RSI) of 63.97 which is moderately overbought.