CandleFocus Solana price prediction: here’s why SOL token will hit $8,000
2024-11-23
Author: Content Editor
The article discusses the recent surge in Solana's price and suggests that the rally is just beginning. Solana has reached an all-time high of $260 and has seen a 3,000% increase from its lowest level in 2023. The coin has been forming a cup and handle pattern, which is typically a bullish continuation pattern. The article predicts that if this pattern plays out, Solana could surge to $8,000. The coin has remained above key moving averages and its oscillators have continued to rise. Solana's rally is supported by strong fundamentals, including a record-high futures open interest of $6 billion and a booming meme coin ecosystem. The Solana DEX network has seen higher volumes than Ethereum, and the coin has become the second most traded on the perpetual futures market. There are also rising odds of companies filing for a Solana ETF. However, the bullish Solana price forecast would be invalidated if the coin drops below $218.
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