Solana

Gains

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/sol-price-beats-btc-and-aims-100-gains-4x-more-than-bitcoin/">SOL Price Beats BTC And Aims $100, Gains 4x More Than Bitcoin!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a>
Surviving the close link to the FTX fiasco, Solana makes a stronger comeback and proves that “What doesn’t kill you only makes you stronger.” The SOL price gives more than four times the return than Bitcoin, so the investors seem more confident than ever.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-1024x481.png" alt="" class="wp-image-245317" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131509/SOLUSD_2023-11-15_12-34-28.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/Yu6XJlTC/" rel="noopener noreferrer nofollow">Tradingview</a>
Further, at a time when the FTX’s SOL holding is liquidated, the market absorbs the supply impressively as the vesting schedule ends. Further, the ongoing uptrend crosses the psychological mark of $50, and the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana price prediction</a> maintains a target of $100.
<h2 class="wp-block-heading" id="h-solana-price-analysis">Solana Price Analysis</h2>
Creating a rounding bottom pattern in the 1W chart, the SOL price trend reflects a solid trend reversal. Further, Solana prices have increased by 168% over the last five weeks and teases a bullish breakout of the rounding bottom.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="481" src="https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-1024x481.png" alt="" class="wp-image-245318" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-1024x481.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-300x141.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-768x361.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-1536x722.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39-150x70.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/11/15131513/SOLUSD_2023-11-15_12-57-39.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/TzR7QdCB/" rel="noopener noreferrer nofollow">Tradingview</a>
Currently, the SOL price trades at $58.89 with an intraday growth of 3.91%, forming a bullish engulfing candle. Supporting the bullish turnaround, the increasing trend in the trading volumes over the weeks reflects a sharp hike in underlying demand.&nbsp;
Technical Indicators:
RSI: The daily RSI line enters the overbought territory and sustains a positive trend, highlighting a strong bullish trend.&nbsp;
EMA: The bullish crossover between the 50D and 200D EMA marks a golden crossover event. This certifies the ongoing trend reversal and improves the overall sentiment around Solana.
<h2 class="wp-block-heading" id="h-will-the-sol-price-cross-100">Will the SOL Price Cross $100?</h2>
As the uptrend gains momentum and the overall market recovery continues, the chances of the SOL price crossing the $100 mark increase significantly. Moreover, the boost in trading volume increases the uptrend in SOL price possibility above $50.&nbsp;
Considering the buyers’ manage to sustain trend momentum, the bullish rally can surpass the $60 mark to test $75. In the longer term, the uptrend can reach $100.
Conversely, a downside reversal under the $50 mark can drop the prices to $40.

SOL Price Beats BTC And Aims $100, Gains 4x More Than Bitcoin!

Table of Contents

CoinPedia News

Other articles published on Nov 15, 2023

Bloomberg Analysts Say SEC To Approve All Spot Bitcoin ETFs; Dogecoin, Polygon, and Everlodge Pri...

JPMorgan Eyes $10 Billion In Daily Transactions With JPM Coin

WonderFi acquires Bitvo, expanding its hold on the Canadian crypto market

Fake BlackRock XRP Filing Referred To State Justice Department

Blockchain.com Raises $110M in Fundings; Amid Huge Valuation Drop

Red Hot Ethereum: Breach Of $2,000 Draws Major Players Into the Fray

Join our free newsletter for daily crypto updates!