- SOLANA may soon reach $122 per share.
- SOL retains a top-ten market position.
- SOLANA is now working on over a thousand projects.
A blockchain that is extremely scalable Solana maintains its place as one of the market’s top ten cryptocurrencies. At the moment, SOL has a massive market capitalization of about $32 billion and a 24-hour trading volume of more than $2.1 billion. These market resources help SOL to maintain its leadership position in the industry.
Additionally, SOLANA continues to expand the number of projects in its ecosystem on a daily basis. This is due of its blockchain, which enables startups to launch their projects seamlessly. Today, SOLANA’s platform supports over a thousand distinct crypto networks.
In terms of market situation, the cryptocurrency continues to strategically defend its position against a bearish market. To be precise, SOL maintains an uptrending position above the Fibonacci golden ratio level of 0.618. If SOL keeps this pace, it may be able to extend its advance and break over the Fibonacci levels of 0.38 to 0.23. If that occurs, SOL may achieve a high of $108, the route to the bullish price of $122.
However, if SOL fails to maintain this trend, the cryptocurrency’s price may break out of its current range. In summary, the price of SOL may fall significantly. It is possible that it will go below the Fibonacci golden ratio of 0.618. As a result, this occurrence may generate FUD among the network’s traders and investors.
SOL is currently trading at a reasonable price of $90, with a seven-day growth rate of +3.2 percent.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.