The cryptocurrency market has experienced a strong bullish reversal over the past few days. This has resulted in top tokens breaking down their important resistance levels. Furthermore, the Solana price today has achieved a new ATH of over $275, indicating increased bullish action.

Will the self-claimed “Ethereum-Killer” maintain its bullish action and hit $300 this week? In this article, we have uncovered the market sentiments, price analysis, and possible short-term possibilities of the Solana (SOL) token.

SOL Crypto Records A New All-time High!

The Solana price has surged by 19.61% with a trading volume of $24.39 billion, a change of +141.32%. Following this, the altcoin has achieved a new ATH, indicating an increase in the bullish influence of the altcoin in the crypto space.

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The Relative Strength Index (RSI) has breached the overbought range in the daily time frame Further, with its average trendline recording a bullish convergence in the Solana price chart, this altcoin may continue gaining value in the coming time.

The EMA 50/200-day shows a positive curve in the price chart, indicating an increase in the bullish price action.

Will SOL Price Hit $300?

If a bullish price action sustains, the SOL coin price could achieve the $300 mark. Suppose, the bullish sentiment intensifies at that point, this could push the price of this altcoin toward its upper high of $350.

On the flip side, if the bears outrun the bulls, the Solana token could drop toward its support level of $250. Further, if the bulls fail to regain at that point, this could pull the price toward its crucial support level of $200.

Are you one of many who are wondering if the SOL coin will ever reach $1000 this altcoin season? Read our Solana Price Prediction to uncover the possible long-term mysteries!

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