Solana is starting the week with a strong recovery, aiming to reach a new all-time high and potentially exceed the $300 mark. After a bearish Sunday in the crypto market, Solana has experienced a surge in demand, with a nearly 7% intraday gain and a rebound to $270. Despite a dip from its all-time high at $295, the bullish engulfing candle has negated the correction phase, and buyers are regaining control. The daily chart shows a bullish breakout and a double-bottom reversal, indicating strength. Solana has seen a 58% price surge over the last seven days and has the potential to surpass $300. The technical indicators, including the positive crossing of the 50 and 20 EMA lines and the overbought RSI, support bullish predictions. The upcoming price targets for Solana are $286 and $317, but the crucial support level remains at $244.
Ethereum Co-Founder Joseph Lubin Predicts Web3 Boom ‘Orders of Magnitude’ Bigger Than Dot-Com Bubble
Mark Cuban rails against memecoins like Official Trump: You get 'a seat in a game of musical chairs'