#write2earn #Solana Price Nears $150 Milestone Amid Market Volatility
#Solanaseason #sol #solana✈️ $SOL Despite the turbulent movements in the market, Solana (SOL) has managed to steadily climb, gaining an extra 5% and reaching $145. However, it encounters significant resistance at $150, a level it hasn't touched in over two years.
Solana (SOL) Price Approaches Two-Year High
As the SOL price inches closer to the crucial $150 mark, there's a palpable sense of excitement among crypto enthusiasts. Insights from Santiment, an on-chain data provider, reveal that it's been since January 16th, 2022, that Solana approached this price level.
While the overall sentiment towards Solana appears somewhat bullish, it lacks the frenzied enthusiasm often seen during times of fear of missing out (FOMO), which might temper any potential rally.
In the realm of cryptocurrencies, skepticism has historically fueled price increases. As Solana teeters on the edge of this significant price point, market watchers eagerly await further developments to predict its trajectory upward.
Anticipated Rally for SOL Price
Numerous market analysts are forecasting a robust rally for Solana, envisioning it surpassing $200 and beyond. The notable trading activity of Solana-based meme coins like Dogwifhat serves as a strong foundation for the anticipated rally in SOL price.
Moreover, significant market players are increasingly interested in acquiring Solana at its current price. Just recently, on Thursday, March 7, Pantera Capital disclosed plans to raise an astonishing $250 million to purchase all of FTX's Solana holdings. This move aims to secure heavily discounted Solana tokens from FTX's estate, given the digital asset exchange's bankruptcy filing.
Despite its upward momentum, SOL still trails 43% behind its previous all-time high (ATH) of $259, achieved in November 2021. However, according to crypto analyst Altcoin Sherpa, there's optimism that SOL will surpass its previous ATH in the current market cycle, with the extent of the breakthrough being the only unknown variable.