SOL price has rallied above $140, gaining over 5% recently with a bullish trend line forming on the hourly chart
Cryptocurrency expert CryptoCurb predicts Solana could reach $2,000 in the future, citing impressive network metrics and adoption
Solana leads in active addresses (28.4 million) and transactions (369 million) over the past week
A recent price “fakeout” saw SOL bounce back after briefly dropping below $125 support
The $190-$200 zone remains a key resistance level that SOL needs to break through for continued upward momentum
Solana (SOL) has shown strong upward momentum in recent days, rallying over 5% from the $120 support zone and now trading above $140. Technical indicators suggest further gains could be on the horizon, with several cryptocurrency experts making bullish predictions about SOL’s future price action.
SOL price started a fresh increase above the $125 and $132 levels against the US Dollar. The cryptocurrency is now trading above $130 and the 100-hourly simple moving average, with a connecting bullish trend line forming with support at $137 on the hourly chart.
The price recently spiked toward the $145 resistance zone, forming a high at $143.06 before retreating slightly. Despite this minor pullback, technical indicators remain positive, with the MACD gaining pace in the bullish zone and the RSI above the 50 level.
Network Metrics Show Strong Fundamentals
Solana’s impressive network metrics are a key factor behind the growing bullish sentiment. The blockchain currently has the highest number of active addresses over the last seven days at 28.4 million, leading the pack for transactions at 369 million – surpassing competitors like Tron, BNB Chain, Base, and Bitcoin.
These strong on-chain fundamentals have caught the attention of cryptocurrency analysts, who point to Solana’s speed, low cost, and scalability as reasons for its growing adoption across various Web3 verticals.
In the last week, Solana’s price has risen by nearly 7% while 24-hour trade volume has increased by 36%. This surge in activity comes alongside rising whale activity in the ecosystem.
Another bullish signal emerged last week when Canada launched the first SOL ETF, with projections suggesting prices could surpass $250 and reverse a forming death cross. Solana open interest has crossed 5.5 billion, climbing by 10% amid this increased institutional interest.
Expert Predictions Point to Substantial Upside
Cryptocurrency expert CryptoCurb has made headlines with a bold prediction that Solana price could reach $2,000 in the future. While no specific timeline was provided, the analyst argues this target is “absolutely realistic” given current fundamentals.
CryptoCurb bases this projection on several factors, including Ethereum’s previous price performance. During the last cycle, Ethereum reached a $600 billion market capitalization despite its steep fees and scalability issues.
A $2,000 SOL price would translate to approximately a $1 trillion market capitalization, potentially allowing it to overtake Ethereum as the largest altcoin. “2K is absolutely realistic if Solana keeps its global adoption pace with minimal disruptions and continues to scale,” CryptoCurb stated.
Other analysts have more modest short-term targets. Trader DonAlt, who is “not exactly known for being a Solana fan,” recently acknowledged the strength of SOL’s bounce after a brief dip below $125 support. Despite personal reservations about the project, the trader admitted that SOL “doesn’t look too bad right now.”
Technical Resistance Ahead
While the short-term outlook appears positive, Solana still faces significant hurdles before reaching some of the more ambitious price targets. The $142 level presents immediate resistance, followed by major resistance zones at $145 and $150.
A successful break above $150 could set the pace for another steady increase, with the next key resistance at $155. Further gains might send the price toward the $165 level, but the $190-$200 zone remains a crucial barrier.
This $190-$200 area is where SOL’s previous rally faltered, and breaking through would require not just strength in Solana but positive momentum across the entire cryptocurrency market.
On the downside, if SOL fails to rise above $142, it could face a pullback. Initial support sits near $138.50, with major support at the $137 level and the trend line. A break below $137 might send the price toward the $132 zone, and if it closes below $132, a decline toward $125 could follow.
The recent price action showed a potential “fakeout” when SOL briefly dropped below longtime support before bouncing back strongly. This resulted in a 7.81% weekly gain, in what some traders described as a bear trap rather than a genuine breakdown.
For now, Solana’s recovery appears intact, but market participants remain cautious about broader macroeconomic conditions that could impact the entire cryptocurrency sector.
With impressive network statistics and growing adoption, Solana continues to solidify its position as a major player in the cryptocurrency space, regardless of short-term price fluctuations.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
By Nermeen Nabil Khear 
