Solana Price Soars Above $180: These Altcoins Could Thrive Once SOL Price Hits $200

The post Solana Price Soars Above $180: These Altcoins Could Thrive Once SOL Price Hits $200 appeared first on Coinpedia Fintech News

Solana’s price has been soaring significantly after rebounding from the levels below $10 in the last few weeks of 2023. The token has firmly formed new highs above $186 when the Bitcoin price ranged beyond $73,700. Now when the token faced a major sell-off, the SOL price also dropped notably and rebounded after hitting the lows below $165. Now that the price has regained $175, the token is believed to fight the bearish influence. 

After remaining elevated for over a week, the SOL price has faced excessive selling pressure since the early trading hours. Despite this, the price has been trying to hold within the upper resistance zone between $174.54 and $196.06. Therefore, the bulls are expected to hold within the levels until the day’s close and constantly defend the levels to maintain an elevated trend for a long. 

Besides, the ecosystem has also witnessed notable growth, regardless of the multiple network outrages that occurred in the past. Therefore, it indicates the growing strength within the chain, due to which the projects built over the network are also expected to gain mainstream attention. Below are a few SOL-based projects that can be considered for the upcoming bull run. 

Pyth Network (PYTH) 

• The Pyth Network price has been maintaining a healthy upswing ever since the token rebounded from the lows in the first few days of the year

• Regardless of the ongoing bearish action, the trend remains elevated within a rising parallel channel, which is trading along the average levels of the channel

• Therefore, the price is believed to trigger a rebound, reclaim the levels at $1 and continue to range high

Jupiter(JUP)

• The price of Jupiter has been ranging within a rising wedge since the beginning of the month and hence a decent pullback could be expected

• Moreover, the RSI is close to entering the upper threshold of the range and hence a minor bearish action could follow 

• Therefore, the JUP price could face a minor pullback to the $0.9 range, which could be followed by a notable rebound back above the $1.1 to $1.2 range.

Raydium(RAY)

• The RAY price is trading within a decisive symmetrical triangle and trying to break above the upper resistance of the pattern 

• The DMI is flashing a probable bearish signal, which suggests the price may face rejection, compelling the price to drop towards the lower support

• This could attract fresh liquidity, which may help the bulls defend the lower support, initiating a fresh upswing until the apex is reached. However, after reaching the apex, a breakout beyond $2 may be expected.