CandleFocus Solana (SOL) Price Prediction: September Activity Could Push Price to $160
2024-09-24
Author: Content Editor
The Solana (SOL) network has experienced a surge in demand, with daily active users and new user counts skyrocketing. The number of unique addresses signing transactions on the Solana network has increased by 57% in September, reaching 61 million compared to August's 26.31 million. New users have also flocked to the network due to its low transaction fees. This increased demand has sparked speculation that SOL's price could reach $160 by the end of the month. Ethereum's rising transaction fees have contributed to Solana's growing popularity. Key momentum indicators for SOL also suggest a bullish outlook. If buying pressure remains strong, SOL could rally past key resistance at $159.96 and target $186.40. However, if selling pressure intensifies, SOL's price may retrace to its support level at $131.32.
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