Solana (SOL), which left behind $200 as of Nov. 8, began preparing for a rally.
By surpassing $76,000, Bitcoin stimulated the altcoin market. Specifically In Solana (SOL). The price hike has not gone unnoticed. The popular altcoin, which broke $200 after a long time, is eyeing a new peak. Memecoin Madness and ETF Can the Left, with the wind at its back blowing its rhetoric, continue its rise? What levels should investors focus on in this process?
Memecoin’s frenzy drives Solana (SOL) to the top.
For several months, the memecoin trend in the Solana ecosystem has significantly affected the price of Solana. SOL, which held strong against other altcoins during the market decline, managed to widen the gap during the rally. The popular altcoin, which gained momentum after breaking the $160 resistance, held its breath at $200. Solana, which traded at $199.48 at press time, could move to $230.18 and $259.69 with a break of $214.99.
Factors that will be considered in this process will be the ETF discourses and the memecoin craze. Negative developments in ETFs or a decline in interest in memecoins could create selling pressure for SOL. In such situations, there may be a drop towards 186.57 – 168.58 – 159.60 and 148.63 dollars respectively.
Approval of Solana ETFs, a sharp decline in BTC dominance, or an increase in memecoin craze could cause the pair to explode. In such a case $500 can be targeted. This level will act as an important resistance, especially from a psychological point of view.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
