Analyst: SOL Price Could Reach $300 Before August Thanks to PumpFun ICO

According to ChainCatcher, as reported by Cryptonews, analysts expect the price of Solana (SOL) to reach $300 before August, mainly driven by recent bullish chart patterns and $500 million in on-chain liquidity raised through the PumpFun ICO.

Currently, SOL is trading at $163.43, up 12.87% over the past 30 days, with a market capitalization of $87.65 billion, solidifying its position as the sixth-largest cryptocurrency in the market.

Technical analysis shows that the SOL/USDT weekly chart indicates a potential bullish reversal, with the price rebounding and trading above the 89-week EMA. Analysts note that if SOL can hold above the support range of $145 to $155, it could rise to the $200 to $250 range in the future.