SOL Price Prediction: Will Solana Hit $200 In Q1 2024? 

With the ETH/BTC pair at 0.054 BTC, Ethereum is gradually growing strong against Bitcoin. Further, with this recovery, the altcoins are preparing for a comeback rally. Similarly, the SOL price is awaiting a bullish turnaround, with the consolidation present at $95.

Amidst this lazy movement, the Solana price prediction projects a bullish highway in 2024 for the altcoin.

Further, the Bitcoin price is ready for a massive jump as the “All Cohorts vs Issuance” chart showcases that miners and exchanges have accumulated around 61,000 BTC, worth almost $2.61 Billion. 

If the demand sustains till Bitcoin Halving, the bull run is inevitable as the markets will find equilibrium at a much higher price. 

Can Solana Find A Sunrise Above $100?

Source – TradingView

Breaching the short-term trendline, the Solana price trend completes a successful retest phase and gives lower price rejection candles at the dynamic support trendline. Currently, the SOL price trades at $95, with the intraday candle shaping up as a Doji. Thus, the altcoin remains indecisive at lower levels.

Further, as per the Fibonacci retracement levels, the SOL price is struggling to sustain above the 23.60% level. The recent double top reversal leads to the ongoing sideways track above the 50-day EMA. Hence, the presence of a strong supply above $100 remains a solid opposition for buyers.

Also Read: Chainlink (LINK) Price Can Surge 38% in Coming Days

Technical Indicators:

RSI Indicator: The daily RSI line sustains above the halfway line while displaying a minor divergence that teases a bullish comeback for Solana. 

Will SOL Price Rush Back To $200?

Considering the markets are ready for a pump, the altcoin season could drive the blue-chip coins to a new 52W high. Overall, the uptrend in SOL price depends upon bullish sustenance above the crucial $100 mark and the $125 breakout later. 

Sideline traders can find an entry point if the Solana prices pump above the $100 mark. On the downside, the altcoin might retest the $82 mark. 

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