Solana (SOL), a blockchain that has been booming over the past weeks, sees its price achieving somewhat steady trends after slight dips. For now, the altcoin aims to recover towards its ATH at the start of this week.
While publishing this content, SOL/USDT trades near $71.24, following a 60% rise over the past week. With such lucrative developments, SOL outperformed Uniswap, becoming the 10th largest cryptocurrency by market cap.
Solana received massive support from news that TikTok, a video-based social site, partnered with Audius, a music streaming website. Keep in mind that Audius relies on Solana and Ethereum blockchains. With the partnership, users can upload their favorite music and share it with TikTok without challenges.
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The potential ETH competitor, boasting high transaction speed at a cost-effective fee, hit record highs at the start of the week. That was after the successful deal of selling the Degenerate Ape NFT collection through Solanart, Solana’s NFT marketplace. The project has witnessed over 135K Solana tokens as of now. Such moves have attracted investors to the SOL offerings.
Keep in mind that the altcoin has also received support due to its DeFi solutions. According to Smart Contractor, a renowned crypto influencer and trader, Solana will have its price hitting another ATH in the upcoming sessions. The influencer believes that the coin has room to increase by 130%. His technical analysis suggests that SOL will breakout towards $150 in the sessions to come.
Watch These Levels
SOL/USDT’s 4-Hr chart suggests a bullish attitude exhibited by the momentum indicator and moving averages. Meanwhile, the MACD indicates selling interest by the investors too.
Solana has its price stabilizing over its pivot zone at $48.22. That came as buyers took the coin above its resistance zones at $60.10 – $66.67. However, it does not mean that any buying interest will take Solana (SOL) to an ATH. The crypto requires enough momentum to conquer the $85.12 resistance for higher highs.
Solana has to extend its upticks to claim new record highs. That requires the correct catalysts and the overall market rally. Meanwhile, SOL has seen the potential to rally high in the upcoming sessions. Research well if you want to invest in the asset.
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