After rising 30% from its low point on Monday, Solana (SOL) has become a leader in the current crypto market recovery. After regaining the $140 support level on Tuesday morning, the token went up a lot, more than Bitcoin (BTC) and Ethereum (ETH).
A fake trader named Glitch Capital said that among BTC, ETH, and SOL, Solana’s chart looked the most hopeful. They pointed out that it had successfully recovered from the $120 support level. Glitch Capital said that SOL could experience more upward movement if it can turn its current resistance into support.
Solana Expected to Hit ATH
Trader Eugene Ng Ah Sio praised Solana’s strength, saying that the token’s performance stays strong even when the market changes. Many people are buying SOL right now, so Ng Ah Sio thinks it could reach a new all-time high (ATH) during this cycle.
Crypto Jelle, a market analyst, also said that SOL was still going to go up in value. He predicted a new all-time high (ATH) in Q4 2024 and set a price goal of $600. Jelle pointed out that the token has been strong for a long time and has good support levels.
Analyst Ali Martinez warned, though, that SOL’s TD Sequential indicator has showed a sell signal on the hourly chart, which means that the price could go down if the $140 support fails. Martinez said that if the price goes down, it could reach a range of $135 to $130. On the other hand, if it rises above $146, it could reach $150 to $166.
Altcoin Sherpa said that buyers should still buy in between $125 and $150, even though they think the price may drop to $125 soon. Sherpa said that SOL was one of the best performers of the bull run, and today there were strong responses to the news. Right now, the price of Solana is $148, which is a 10% rise in the last 24 hours.
