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  • ethereumEthereum (ETH) $ 2,698.86
  • xrpXRP (XRP) $ 2.60
  • tetherTether (USDT) $ 0.999699
  • bnbBNB (BNB) $ 659.24
  • solanaSolana (SOL) $ 169.45
  • usd-coinUSDC (USDC) $ 0.999896
  • dogecoinDogecoin (DOGE) $ 0.252997
  • cardanoCardano (ADA) $ 0.781028
  • staked-etherLido Staked Ether (STETH) $ 2,695.24
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  • avalanche-2Avalanche (AVAX) $ 24.09
  • suiSui (SUI) $ 3.11
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  • ugold-incUGOLD Inc. (UGOLD) $ 3,037.58
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  • wethWETH (WETH) $ 2,699.43
  • hyperliquidHyperliquid (HYPE) $ 23.64
  • polkadotPolkadot (DOT) $ 4.78
  • mantra-daoMANTRA (OM) $ 7.45
  • bitcoin-cashBitcoin Cash (BCH) $ 318.31
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  • uniswapUniswap (UNI) $ 9.69
  • wrapped-eethWrapped eETH (WEETH) $ 2,858.91
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  • whitebitWhiteBIT Coin (WBT) $ 27.19
  • aaveAave (AAVE) $ 258.43
  • ondo-financeOndo (ONDO) $ 1.19
  • nearNEAR Protocol (NEAR) $ 3.18
  • mantleMantle (MNT) $ 1.10
  • susdssUSDS (SUSDS) $ 1.04
  • daiDai (DAI) $ 0.999891
  • official-trumpOfficial Trump (TRUMP) $ 16.59
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  • bittensorBittensor (TAO) $ 366.48
  • ethereum-classicEthereum Classic (ETC) $ 20.27
  • okbOKB (OKB) $ 49.71
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  • tokenize-xchangeTokenize Xchange (TKX) $ 34.07
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.305481
  • kaspaKaspa (KAS) $ 0.101312
  • vechainVeChain (VET) $ 0.032134
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 96,044.00
  • crypto-com-chainCronos (CRO) $ 0.086173
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  • arbitrumArbitrum (ARB) $ 0.469608
  • filecoinFilecoin (FIL) $ 3.27
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  • cosmosCosmos Hub (ATOM) $ 4.64
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.743174
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  • lombard-staked-btcLombard Staked BTC (LBTC) $ 96,233.00
  • sonic-3Sonic (prev. FTM) (S) $ 0.585368
  • optimismOptimism (OP) $ 1.10
  • lido-daoLido DAO (LDO) $ 1.89
  • fasttokenFasttoken (FTN) $ 3.93
  • celestiaCelestia (TIA) $ 3.07
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,698.22
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  • kucoin-sharesKuCoin (KCS) $ 12.05
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 95,644.00
  • xdce-crowd-saleXDC Network (XDC) $ 0.091654
  • injective-protocolInjective (INJ) $ 14.04
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,034.42
  • blockstackStacks (STX) $ 0.892885
  • ethenaEthena (ENA) $ 0.432093
  • binance-staked-solBinance Staked SOL (BNSOL) $ 175.21
  • nexoNEXO (NEXO) $ 1.33
  • immutable-xImmutable (IMX) $ 0.747724
  • raydiumRaydium (RAY) $ 4.40
  • the-graphThe Graph (GRT) $ 0.134110
  • theta-tokenTheta Network (THETA) $ 1.27
  • movementMovement (MOVE) $ 0.525090
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,852.35
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  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 97,159.00
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  • dexeDeXe (DEXE) $ 17.89
  • galaGALA (GALA) $ 0.021886
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  • tezosTezos (XTZ) $ 0.863435
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.81
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,796.61
  • msolMarinade Staked SOL (MSOL) $ 213.69
  • bittorrentBitTorrent (BTT) $ 0.00000085
  • wbnbWrapped BNB (WBNB) $ 659.13
  • iotaIOTA (IOTA) $ 0.221031
  • flowFlow (FLOW) $ 0.507088
  • jito-governance-tokenJito (JTO) $ 2.65
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 95,860.00
  • roninRonin (RON) $ 1.24
  • bitcoin-svBitcoin SV (BSV) $ 38.57
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.60
  • neoNEO (NEO) $ 10.66
  • pyth-networkPyth Network (PYTH) $ 0.203594
  • kaiaKaia (KAIA) $ 0.126127
  • tether-goldTether Gold (XAUT) $ 2,910.76
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 1.11
  • chain-2Onyxcoin (XCN) $ 0.021070
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 183.34
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,850.39
  • axie-infinityAxie Infinity (AXS) $ 4.23
  • curve-dao-tokenCurve DAO (CRV) $ 0.506506
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,698.72
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  • resolv-usrResolv USR (USR) $ 1.00
  • newton-projectAB DAO (AB) $ 0.012884
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  • coredaoorgCore (CORE) $ 0.515545
  • ecasheCash (XEC) $ 0.000026
  • apecoinApeCoin (APE) $ 0.693350
  • verus-coinVerus (VRSC) $ 6.41
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  • compound-governance-tokenCompound (COMP) $ 53.89
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  • apenftAPENFT (NFT) $ 0.00000045
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  • stader-ethxStader ETHx (ETHX) $ 2,838.14

Solana Price Set to Hit $165 Level Soon, Here’s Why

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Solana (SOL), the fifth-biggest cryptocurrency by market cap appears bullish and poised for a massive upside rally following its consolidation breakout. After consolidating in a tight range between $141 and $150 for the last five days, SOL has finally broken out of that zone and is now ready for the rally.

Solana (SOL) Current Price Momentum

At press time, SOL is trading near $153.2 and has experienced a price surge of over 7.2% in the past 24 hours. During the same period, its trading volume increased by 25%, indicating growing participation from traders and investors amid the recent breakout.

Solana Technical Analysis and Upcoming Levels

CoinPedia’s technical analysis suggests that SOL is bullish, as it is trading above the 200 Exponential Moving Average (EMA) on a daily time frame. The 200 EMA is a technical indicator that crypto experts use to determine whether an asset is in an uptrend or downtrend.

Solana Price Set to Hit $165 Level Soon, Here’s Why

Source: Trading View

Based on the historical price momentum, if SOL closes its daily candle above the $151.5 level, there is a strong possibility it could soar by 13% to reach the $165 level or even higher if sentiment remains unchanged.

This bullish thesis will only hold if SOL closes its daily candle above the $151.5 level, otherwise, it may fail.

SOL’s Bullish On-chain Metrics

Currently, this positive outlook is further supported by on-chain metrics including SOL’s future open interest and Long/Short ratio. According to Coinglass, SOL’s long/short ratio currently stands at 1.021, indicating strong bullish sentiment among traders.

Solana Price Set to Hit $165 Level Soon, Here’s Why

Source: Coinglass

Additionally, its future open interest has jumped by 4.9% in the last 24 hours and has been steadily rising since September 10, 2024.

Solana Price Set to Hit $165 Level Soon, Here’s Why

Source: Coinglass

Traders and investors often use the combination of rising open interest and long/short ratio above 1, while building long positions. Currently, 50.5% of top traders hold long positions, while 49.5% hold short positions.

Source

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