Solana’s (SOL) meteoric price ascent has largely been driving the cryptocurrency market. The token has shown a stunning price progression, with momentum that is unbeatable to cross at the moment.
Per CoinMarketcap, Solana has spiked nearly 60% in the past month. At press time, the token is sitting at $183, carrying hopes of hitting an all-time high soon.
In a recent development, Solana continues to hit new records. The token has recorded a surge in its wallet transactions and has now flipped the BNB Chain in daily active addresses.
Also Read: Solana: Can SOL Reach $300 in April 2024?
Solana Flips BNB in the Daily Active Address Count
The cryptocurrency bull market phase is particularly favoring Solana from all possible fronts. Per Solana Floor, SOL has recently outpaced BNB Chain in daily active address count. On March 26, the daily active address count on Solana was hovering near 1.5 million, whereas the BNB Chain metrics stabilized at 1.4 million.
Additionally, the current bull market phase noted Solana’s rising presale meme coin frenzy, leading the token to touch new highs. Degen News, a crypto news platform, took to X to share another vital detail about Solana’s latest meme presale projects. The platform outlined how Solana has taken over Ethereum by producing and hosting some of the largest meme coin projects this bull season.
What’s In Store For Solana This April?
Solana’s recent price performance is a mix of different market elements. The token had earlier encountered resistance at various price levels before briefly touching a new ATH of $200. SOL is currently sitting at $183, down 2% in the last 24 hours.
For April, the leading crypto prediction platform CoinCodex has forecasted a bullish streak for Solana. The platform expects Solana to rise by a whopping 227% by April 27, 2024.
“According to our current Solana price prediction, the price of Solana is predicted to rise by 227.56% and reach $593.96 by April 27, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 80 (extreme greed). Solana recorded 19/30 (63%) green days with 16.75% price volatility over the last 30 days.”
Similarly, the platform had earlier predicted price levels at which Solana may experience slight resistance and pressure.
Also Read: Solana’s Daily Active Wallets On Network Surge: Is SOL Eyeing $250?
“Based on the current classical pivot point (P1) with a value of $186.46, Solana has support levels of $180.70, $175.18, and the strongest at $169.41. Similarly, Solana resistance levels are at 191.98, 197.75, and 203.26.”
However, for April, the overall momentum predicted for Solana seems positive from all fronts. It is to be noted that SOL will need to maintain its bullish uptrend to hit ambitious price levels above $200.
“The Solana price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $269.17 on April 4, 2024, gaining 48.45% in the process.”