Solana’s price reaching $173 has excited investors, who see potential for further gains to $200 according to experts. This optimism is fueled by positive sentiment in the market and upcoming upgrades.
Solana’s price has surged to $173, sparking excitement among investors who are closely watching its performance. Experts are optimistic about the rally continuing, especially with the growing interest in Solana meme coins like BONK, BOME, and MEW.
Bullish Outlook on Solana: Experts Predict $200 Price Target
Daniel Cheung, co-founder of Syncracy Capital, has expressed strong confidence in Solana’s potential to reach $200. He emphasized upcoming developments such as the Frankendancer upgrade, signaling a path towards new all-time highs.
Cheung reiterated his belief in Solana’s upward trajectory in a recent X post, suggesting that the cryptocurrency could hit $200 by the end of the month. This outlook represents a significant shift in the monthly timeframe and indicates readiness for substantial price gains.
Echoing this optimism, prominent cryptocurrency trader Wick, known as ZeroHedge on X, also highlighted Solana’s bullish breakout and positive trend indicators. Wick pointed to green micro and macro trend signals, which suggest an imminent retest of $200 and potential for further upside.
The combined insights from Cheung and Wick reinforce the bullish sentiment surrounding Solana, indicating strong market confidence in its price trajectory.
Solana Gains Momentum: Anticipation and Market Insights
Solana continues to be a focal point in the cryptocurrency market, driven by positive sentiment and upcoming developments that are heightening anticipation. The recent surge in Solana’s price has attracted attention from major players in the digital asset space, who see potential for new highs.
BitMEX co-founder Arthur Hayes recently praised Solana’s price rally in a post on X, where he shared the Solana price chart. Hayes has also advocated for accumulating Solana in a blog post earlier in May, further boosting confidence in the cryptocurrency.
As of the latest update, Solana’s price has risen by 3.01% to reach $173.25, briefly touching a 24-hour high of $174.16. Despite the upward movement, trading volume from the previous day dropped by 25% to $2.71 billion. Notably, Solana Futures Open Interest surged by 4.91% to $2.32 billion, according to CoinGlass data, indicating strong bullish sentiment in the market.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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