Solana Price Prediction: SOL Could be Ready to Move to $225 After Breakout

Solana (SOL) has gone up by 35% in the past 30 days as multiple tailwinds have lifted the price of this top altcoin above the $190 level.

A breakout above this level favors a bullish Solana price prediction as it could anticipate a big move ahead, especially at a point when market conditions are favorable.

The passing of the landmark Genius Act in the United States, the potential launch of the first meme coin exchange-traded fund (ETF) for a Solana-based token, and the launch of the first ETF for Solana have all aided this recent push.

Pudgy Penguins (PENGU) has emerged as one of the biggest winners in this ecosystem in the past 30 days with gains of 300% during this period after the U.S. Securities and Exchange Commission (SEC) acknowledged Canary Capital’s application to list an ETF for this token.

Trader DevKhabib, whose X account is followed by more than 45,000 users, shared a bullish Solana price prediction that sees the token rising to $225 within the next few days after a decisive breakout of a long-dated trend line resistance.

Solana Price Prediction: SOL Could Move to $245 if Bullish Breakout Holds

Meanwhile, looking at SOL’s daily chart, we can see that the price action has also broken out of a descending price channel formation with strong volumes.

This push led to a move above $190 already and could ultimately push SOL to $245. Today’s big trading volumes confirm the market’s intention to push SOL even higher.

Both the 9-day and 21-day exponential moving averages (EMAs) have made a bullish crossover above the 200-day EMA. This is a powerful buy signal that also favors a bullish Solana price prediction.

The Relative Strength Index (RSI) has moved to overbought territory already, signaling that the uptrend has gained significant strength.

Although this is also a warning sign that the market may have gotten ahead of itself, any pullback at this point could be interpreted as an opportunity to get a more decent entry.

The next target for SOL at this point could be set at $245 as long as the price stays above $190 today and for the rest of the week.

In the meantime, as meme coins keep making headlines, Snorter (SNORT) has rapidly become one of the top crypto presales of the year as it allows traders to seamlessly snipe the best tokens in this ecosystem through a sophisticated trading bot.

Snorter (SNORT) Raises Nearly $2M To Find Solana and Ethereum’s Hidden Gems

Snorter (SNORT) is an automated trading bot that snipes the best meme coins in these two blockchains through a robust algorithm.

Different from other similar solutions, Snorter offers MEV and rug-pull protection, the possibility of setting limit orders to get the best entries, and the lowest commissions in the market.

Users will easily set up the bot once the Snorter terminal is launched. They will also get Telegram alerts when new opportunities are identified.

Once the solution starts to deliver positive results, the demand for $SNORT will skyrocket. Early buyers who take advantage of its discounted presale price of $0.0989 will reap the highest returns.

To buy $SNORT, simply head to the Snorter website and connect your wallet (e.g. Best Wallet). You can either swap SOL, USDT, or ETH for this token or use a bank card to invest.