bullish

Solana

The bears are slowly gaining strength with the beginning of the American trade as the markets are plunging from the highs. Solana's price has also marked a new ATH at $263, just above the previous one at $260, with a massive increase in bullish sentiments and volume. Therefore, the SOL price rally is expected to revamp a strong upswing and mark fresh highs as the DEX volumes surge to unexpected levels.&nbsp;  
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The DEX volumes are on the rise! The levels have risen from the range of around $6 billion to $7 billion to as high as $17.5 billion. Interestingly, Solana has marked nearly half of the volume by hitting highs above $7 billion, surpassing Ethereum, which is known as the home for DEX and DeFi. This suggests a major shift in the trader's sentiments, as they appear to have become more hopeful of the SOL price rally, which has just reached new highs.&nbsp;  
What’s next for the Solana price rally? Where could be the next ATH?  
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Here is the simple monthly chart of the Solana price rally, which suggests the token is at the foothill of a massive explosion. The token has just broken the neckline of a cup &amp; handle pattern and is supposed to trigger a strong rise to $300 in a short while from now. However, a small retest to $280 could be more prominent in attracting fresh liquidity onto the platform while keeping the bullish momentum alive.&nbsp;  
Having a closer look over the technicals suggests that the RSI is about to enter the overbought zone after undergoing a parabolic recovery. Besides, the OBV remains incremental, suggesting a constant influx of liquidity, which is backing a strong ascending trend. Therefore, the Solana price rally appears to be primed to reach $300 anytime from now and after a brief pullback, the upswing may further escalate to reach $400 by the end of the year. However, the peak is expected to be a 4-digit figure, which may occur somewhere in 2025.&nbsp;

Half of DEX Volumes are Flowing into Solana- Will This Be a Catalyst for SOL Price to Reach $500 in 2024?

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