Solana Breaches $200: Is SOL Eyeing $250 Next?

Juhi Mirza
Solana to Investigate Root Cause of Network Outage
Source: Outlook India

Solana has lately been trending in the cryptocurrency market, all thanks to its meteoric price ascent noted as of late. The crypto is up a staggering 15% in the last 24 hours, breaching a new ATH of $200. 

With its consistent price rally and ascent, it seems that the Solana will not stop anytime soon, with analysts already projecting a new milestone for the SOL to breach soon. 

Also Read: Solana: Here’s Why Presales are Dominating SOL’s Ecosystem

Solana Breaks the $200 Threshold: Why Is It Up Today? 

Source: Forkast News

Solana is one of the fastest-growing cryptocurrencies at the moment. SOL has recently grown exponentially, overcoming barriers to reach the 4th largest crypto by market cap. 

The coin has also been awarded as the best cryptocurrency of the year by CoinMarketCap. CMC has noted how SOL has been consistently working on expanding its network prowess, including making improvements to the blockchain. 

Solana’s recent price ascent comes in the wake of the latest network improvement that the blockchain has embedded as of late. Despite facing gradual network breakdowns, SOL continues to work hard to face off with competitors. Developers have long been building on Solana, including working on improving its network strength and adaptability. 

With increased transaction volume related to NFTs and finance in general, the crypto market has been noting an upward price movement with ease. 

Solana has also been fueled further by bullish crypto market momentum, giving it an exceptional price boost. 

Also Read: Solana (SOL) Flips BNB to Become 4th Largest Cryptocurrency

Solana to break the $250 threshold? 

As per CoinCodex, SOL is poised to gain further market momentum. Per the analytics platforms, Solana may soon breach the $250 mark with ease, given that it follows the current bullish market wave. 

Per the latest forecast, SOL may very well breach the $250 mark by March 24 if it continues to carry on with its consistent price hike. The platform predicts SOL to hit $296 by March 25, giving it an all-time high to scale and dominate. 

“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 $296.02 on March 25, 2024, gaining 48.97% in the process.”