In the most recent bull cycle, Solana SOL’s ability to be the top blockchain network has been reflected in a stunning way. Investors were buzzing as the token reached an all-time peak of $200. Investors are hopeful that, with Bitcoin’s halving just around the corner and the dispersed user base of Solana, the token will see some significant gains.
SOL currently sits at $139. This is an increase of 3.91% over the past 24 hours. In terms of blockchain metrics however, Solana is outperforming other crypto tokens. It hopes to see its value rise soon.
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What is the likely SOL price after Bitcoin’s halving?
Recent price movements of Solana have been steady but slow. In the past two months, Solana has outperformed Bitcoin on active daily addresses.
Solana SOL is likely to see a price surge with the Bitcoin Halving set for April 20. However, there may be a couple of modest drops. The market is known for its volatility, with tokens experiencing slight drops in price before recovering.
Crypto analytics platform reveals notable findings CoinCodexSolana’s price may increase by just 0.96% to $138.71 before April 24.
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The platform further predicts SOL to encounter a few price dips where the token sheds 1%–2% of its value and trades between $136 and $138.
CoinCodex says that May’s arrival will allow Solana to stabilize the price barrier, allowing the token to gain momentum and reach a rise of nearly 13% between May 18th.
“The price of Solana is predicted to rise by 13.39% and reach $155.79 by May 19, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 66 (greed). Solana recorded 16/30 (53%) green days with 10.65% price volatility over the last 30 days. ”
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Source: watcher.guru