Solana has been among the closely monitored tokens, due to which the volatility of the token has remained above the range. Although the volume remains within the average range, the possibility of reaching the upper targets has emerged. The SOL price has surged by over 8% in the past 24 hours and achieved levels above $140. With more than 80% of sentiments favouring the bulls, the price is expected to close the monthly trade close to $150.
The SOL price held all the key support levels in the times when most of the altcoins were down by 50% from their highs. Besides, the Fed rate cuts appear to have come as a blessing in disguise, as they helped the token break the consolidation that it held for nearly a month. The token is about to break out to around $150, but only if the bulls defend the newly formed support at $138.
Will SOL price make it to $150 before the end of September?
The September trade has historically been bearish, with the crypto markets losing billions. However, the scenario is expected to change as the markets have triggered a fine rebound, including the top tokens. The SOL price surpassed one of the crucial resistances at $140 and the 50-day EMA at $141.16 and a daily close above these levels is believed to validate a move above the bearish influence.
Secondly, the DMI levels +Di & -Di are heading for a bullish crossover, indicating a change in a strong flip in the trend. Therefore, the Solana price is believed to maintain a healthy upswing for the rest of the month and achieve $150 if the bulls sustain above the gained levels. Therefore, the next few days could be extremely important for the Solana (SOL) price rally, as a bullish continuation may elevate the levels towards $200 in Q4, but a rejection may drag it back to $120.
