Solana has received positive news recently, ranging from an increase in the number of users to the potential for a price increase of hundreds of times. In this article, you will find out that the potential Solana price rise at $210 is true for five reasons that will be discussed.
Check out this article to find out exactly what Solana will look like in the future.
1. Solana Crosses Resistance Level
Solana is predicted to reach the $210 level no later than 2025. One of the conditions for Solana to reach this price is if SOL can pass the resistance level at $148.16.
And surprisingly, Solana can easily reach this resistance level. When this article was written on October 14, the SOL price was trading at $152.92, surpassing the price target of $210.
You can see, several indicators in Solana price chart The above also shows the positive side. SOL’s RSI is at 72, far exceeding 50 as the balance limit for buying and selling trends. However, this figure is a sign that Solana is in a phase that is prone to over-buying.
Solana’s MACD shows a rise from the boundary line. If it continues like this, Solana’s bullish trend will occur. Moreover, the value of the BoP figure is also close to positive with a value of -0.11, which means that although the selling market still dominates compared to the buying market, it will soon be at a positive figure. So, the bullish trend is also optimistic from the existing BoP data.
2. Solana has 100M Active Wallets
Recently, active wallets on Solana reached 100 million users. This number is of course a big achievement for Solana because previously, at the beginning of 2024, the number was only 509,000 active wallets and now it has increased many times.
However, unfortunately, as quoted from Solana Hello Moon, a number of wallets actually have empty balances. The number of empty wallets is not small, but 86 million users. In fact, 15.5 million users only have 1 SOL in their wallets and 1.5 million wallets only have 10 Solana tokens.
Even though many wallets were empty, Solana also saw an increase in active addresses on its network. From the initial number of 3 million active addresses, it increased by 15% and became 3.47 million.
This increase in active addresses indicates that Solana has increasingly strong fundamentals so more investors trust Solana.
3. Popularity of Memecoin in the Solana Ecosystem
Recently, various new meme coins have emerged from the TON network with the Telegram game concept. Despite this, the popularity of meme coins on the Solana network remains superior.
Quoted from Dune Analytics data, Pump.fun, one of the meme coins on Solana, even achieved cumulative revenue of up to $127.8 million. This figure is of course very large.
Conclusion: from #Uptober to Trump’s Popularity for Solana
October is always a good month for Solana. This is why Solana token holders are optimistic that SOL will experience a significant price increase shortly.
Not only that, Solana is also predicted to experience a price jump of up to 400x if Donald Trump is elected president of the United States in the next period. This is because Trump’s policy of supporting crypto is analyzed as being more likely to benefit Solana. If this happens, Solana could outperform Bitcoin and Ethereum.
If you are interested in buying Solana tokens, don’t just buy the token without doing some research. Find out what the current condition of Solana is, the price of SOL to USD, to thoroughly study the fundamentals of this token. That way, you can know what the risks are when investing in this token.
via Vritimes