Solana Defends All Fronts and Recovers $180: What’s Next for SOL? Solana defends on all fronts and recovers $180: what’s next for SOL?

Solana has dominated the cryptocurrency market recently due to its dynamic price metrics. SOL is now up 3% in the last 24 hours, capitalizing on Bitcoin’s dramatic price rise from $68,000. The token is doing its best and is currently basking in the glory of the bull season, projecting momentum that indicates its future price could surpass the $200 threshold.

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Solana’s pioneering position

Source – Zipmex

Solana is now trading at an all-time high of $180, which the token had earlier claimed for a brief period before dropping to $140. Following in the footsteps of Bitcoin, Solana is now breaking records, starting with Ethereum.

The token has overtaken all chains, including Ethereum, in the dominant NFT sector. The SOL ecosystem is currently thriving in weekly NFT user adoption metrics, projecting the token’s growing potential.

At the same time, Solana reversed Ethereum in the global search index on Google, marking another shift in the narrative.

The token is currently teeming with new activity, mainly due to the nascent pre-sale projects already pending on the blockchain. The SOL ecosystem has fostered and given birth to many new meme tokens ruling the crypto space this season. Such diverse projects on SOL have played a pivotal role in increasing the token’s value this season.

Solana Price Forecast: What’s Next?

By CoinCodex, Solana is now approaching a new all-time high price. The token could claim a new ATH by June 19, as predicted by the analytics platform.

According to CC, if all goes well, Solana could rise by 12% to reach a new price threshold of $206 by June 20.

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“Solana is expected to rise by 12.27% and reach $206.86 by June 20, 2024. According to our technical indicators, current sentiment is bullish, while the Fear & Greed Index is reading 76 (extreme greed). Solana recorded 14/30 (47%) green days with price volatility of 7.86% over the last 30 days.

Coinpedia, another notable crypto analysis platform, echoes the same price sentiment for SOL. According to the platform, SOL can trade for a whopping $250 by the end of May 2024.

“If Solana manages to overcome the challenges of the cryptoverse while resolving consensus issues, continuing on the progressive path, SOL coin prices could end in 2024 at a high of $500. On the other hand, if sentiments do not improve, the altcoin could settle at $90.

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