Solana price has been struggling to break it to new heights, always battling resistance levels to fall back to the usual support levels, just like over the past year. During March 2024, it peaked at over $200, like $209, and then $202, before falling back to $169 and similar to that back in May reaching $187, and later in July hovering around $194, before always going back to lows of around $130, with a major fall in early August to $111. From these price swings, could SOL price break $180 this October, let's dive first into what's driving the recent rally to get a more precise Solana price prediction .
Solana (SOL) is experiencing a significant price surge, currently trading at $169.46, up 6.57% in the past 24 hours. This follows a steady upward trend, with SOL gaining 14.63% over the last 7 days and 15.39% over the past month. The cryptocurrency's market cap stands at $79.45 billion, while its 24-hour trading volume has soared by 86.44%, reaching $3.23 billion.
Several factors have contributed to this price rally:
The combination of historical performance increased on-chain activity, and a bullish technical setup indicates that Solana is well-positioned to reach $180 by the end of October. However, investors should watch for resistance around the $170-$180 levels, as any failure to break through could lead to a temporary pullback. A dip toward $160 or even $127 remains a possibility if bearish forces take control.
Despite these potential challenges, the overall sentiment around Solana remains positive . If the bullish momentum continues, we could see SOL approach its next resistance at $180, with potential for further gains into early 2025, especially if the broader crypto market continues to perform well .