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<p dir="ltr">Solana (SOL), a blockchain platform designed for decentralized applications and crypto projects, has been making waves in recent months.&nbsp; With its price currently&nbsp;<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">hovering</a> around $116, the question arises whether it could be on its way to hitting $140.</p>
<h2 id="solana-s-recent-performance">Solana’s recent performance</h2>
<p dir="ltr">At press time, Solana is trading at $116.72, representing a modest increase of 0.56% in the past 24 hours, accompanied by a market cap of $51 billion.&nbsp;</p> <img data-entity-type="file" data-entity-uuid="65054ba8-cb11-4ff1-93a5-5af2326f66b6" src="https://u.today/sites/default/files/inline-images/SOL_1D_graph_coinmarketcap%20%288%29.jpeg"><a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">SOL 1D Chart: Source: CoinMarketCap</a>
<p dir="ltr">What is particularly noteworthy is traders’ growing confidence in SOL, with the coin inching toward its yearly highs. This surge in confidence is indicative of a potential bull run, setting sights on forming a new all-time high (ATH) in 2024.</p>
<p dir="ltr">Over the last month, SOL has demonstrated impressive growth, with its price against the U.S. dollar soaring by 19.64%. While it is up 8.08% against Ethereum (ETH), it has seen a slight dip of 1.89% against&nbsp;<a href="https://u.today/tom-lee-names-key-reason-behind-bitcoin-price-rally" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) in the same period.&nbsp;</p>
<p dir="ltr">However, this slight decline against Bitcoin may not be a cause for concern, especially if Bitcoin maintains its strength amid major resistance levels, potentially kickstarting rallies for major altcoins like SOL.</p>
<h2 id="solana-s-road-to-140">Solana’s road to $140</h2>
<p dir="ltr">Crypto educator Koroush Khaneghah recently&nbsp;<a href="https://twitter.com/KoroushAK/status/1757052890105958601?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1757052890105958601%7Ctwgr%5E357abff60a107626cb5baaf5318b6fdc4cdf321b%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fu.today%2Fsolana-sol-to-140-expert-indicates-one-trigger" rel="noopener noreferrer nofollow">suggested</a> that SOL has a strong chance of reaching $140. With Bitcoin leading the current market upsurge and&nbsp;<a href="https://u.today/bitcoin-breaks-1-trillion-market-cap-as-btc-price-goes-parabolic" rel="noopener noreferrer nofollow">setting new cycle price highs</a> over $51,000, SOL could follow suit with a surge of over 30% to hit the $140 mark.</p>
<p dir="ltr">Indeed, SOL has seen substantial growth over the past 30 days, surging by over 20%. Analyzing SOL's long-term chart suggests a parabolic recovery underway, potentially reaching the next resistance level at $130 shortly. Despite interim bearish actions, the buying pressure remains evident, with the Relative Strength Index (RSI) signaling bullish dominance in the rally.</p>
<p dir="ltr">Looking ahead, SOL appears well positioned to maintain its healthy upswing, aiming to approach levels close to $150 before the end of the first half of 2024. A recent development that further highlights SOL's bullish trajectory is the surge in open interest, which has&nbsp;<a href="https://u.today/solana-sol-open-interest-surpasses-175-billion-as-price-goes-bullish" rel="noopener noreferrer nofollow">surpassed</a> a remarkable $1.75 billion.</p>

Solana (SOL) Price to $140? Here's What Stats Tell Us

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