Solana (SOL) has soared by over 60% in the past month, aligning with the broader cryptocurrency market surge. This growth has sparked interest among investors regarding the digital asset’s next potential price target.
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Cryptocurrency analyst Ali Martinez’s recent post on X emphasized Solana’s significance in closing above $68.2 and maintaining a support level of $60 to potentially push towards the $90 mark. Notably, SOL has already exceeded this threshold, indicating a continued bullish trend for now.
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Bullish signs have emerged for Solana: a surge in its total value locked from $600 million to $833 million and a surge in decentralized exchange volume, reaching over $3 billion, placing it second in trading volume.
Presently, Solana’s price stands at $71.53, up 13.97% for the day, continuing a trend of gains—16.30% in the last seven days and 65.18% over the month.
Solana has displayed robust fundamentals, boasting a 433% price increase in the last year, outperforming 95% of the top 100 crypto assets, including Bitcoin (BTC) and Ethereum (ETH). However, it remains significantly below its all-time high by -72%.
While Solana exhibits strong recent performance, its volatility is a crucial factor to consider. Investors are advised to conduct thorough research before investing due to the market’s highly volatile nature.