Solana (SOL) Signals Surge to $170; How High can it go in 2024?

Joshua Ramos
Solana SOL

The recent performance of Solana (SOL) has signaled an impending surge to the $170 price point, which has led many to question just how high the asset can ascend in 2024. Indeed, over the last seven days, the asset has increased more than 20% according to CoinMarketCap.

That rally has been incited in large part due to the Bitcoin Halving Event. Moreover, its recent sustained value above the $156 level indicates that it has room to test the impending $170 mark. How it performs there could be critical in establishing the ceiling for the asset this year.

Source: Decrypt

Also Read: Solana Price Prediction For May: How Close Is SOL To $300?

Solana (SOL) Has $170 in Sights as Its 2024 High May be in View

Heading into 2024, the digital asset market had high hopes for the year. One of the main reasons for that was the impending arrival of the fourth-ever Bitcoin Halving. Less than a week after the event has proven its worth, as it has already impacted various tokens.

That does not appear to be slowing down anytime soon either, as the event should have lasting effects. Yet, the main question for some of the post-halving markets’ best performers is what their ceilings could be. This is especially true for Solana (SOL) as its performance signals a rally toward a $170 target, leading many to question how high it can go in 2024.

Currently, the asset is trading at the $158 level, which is immensely important. If the asset can close above the $156 level, upward momentum is all but assured. Therefore, an ascension to $160 is impending.

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Also Read: How High Will Solana SOL Peak Post-Bitcoin Halving?

From there, the bullish momentum is expected to see the asset and then test the $170 range. Given everything goes according to plan, and it continues its seven-day gaining streak, it could be ready to build anticipation for a $200 level surge sooner rather than later.

Conversely, price prediction platform Changelly has echoed the bullish sentiments for the asset. Moreover, it forecasts a $175 price for SOL over the next 30 days. Additionally, it expects the asset to continue rising, eventually surpassing the $180 mark in May and June.

Throughout the summer, there is the expectation that the asset will continue to increase, reaching a $187 ceiling price for the year. However, if it can continue to increase amid positive market sentiment, it could challenge that prediction, and head to its all-time high of $260 throughout June and July.