CandleFocus SOL Price Targets $170 as Builder Interest on Solana Doubles
2024-10-18
Author: Content Editor
The Solana blockchain has experienced a surge in its token price, surpassing $150. This is attributed to increased on-chain metrics and growing interest from investors and developers. Industry experts predict that the cryptocurrency's value will continue to rise, potentially leading to a double-digit rally. The cryptocurrency has seen a significant increase in appeal to web3 builders, with its share of builder interest nearly doubling in the past year. The active user base for Solana has also grown, with the cryptocurrency accounting for a large portion of monthly active addresses. The altcoin's ecosystem has contributed to its popularity, with meme coins driving user engagement. Technical indicators suggest that Solana's price is in an uptrend and may experience further gains, although caution is advised. Traders should monitor the MACD and the 50-day EMA for any signs of weakening momentum.
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