Solana’s (SOL), a stock that was unexpectedly high for investors, is now nearing $180 with a strong 6% increase since the start of this week. In fact, Solana (SOL) is poised to reach May’s last month with an impressive rally. Over the past seven days the asset’s value has risen by more than 20%. CoinMarketCap.
SOL is not on the way to $200, as some traders believe. SOL’s trading volume, market capitalization, and other aspects all increased on Monday.
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Solana skyrockets and continues 20% gains in the last seven days
Solana performed extremely well in the market over the past week. This increase is not limited to just the last few days. It has been a steady rise in the market for the entire month. But this surge has taken a huge step in the last week.
Solana, or SOL for short, climbed toward $180 with a 6 percent increase on Monday. The market now awaits indicators to see where this rally will go. Some people are starting to confirm the $200 price target by the end of the month.
SOL chart indicates that it is now above the moving averages of 50 and 200 days. It is important that this development strengthens the bullish momentum for cryptocurrency. Bollinger Bands also seem to be widening. This suggests more price gains are possible.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/05/Solana-SOL-Passes-180-as-7-Surge-Sets-up-Rally.webp.webp)
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The increase in Solana’s network and addresses is only adding to these observations. According to reports, the number of new addresses in this month is on an upward trend. This could only be a positive trend. work Solana’s overall price rise could be higher by the end of May.
The overall market for cryptocurrencies is not favorable, so the asset has to deal with that. Time will reveal if the asset can remain the exception, but the positive results it has had this year have lead many to expect its success to continue.
In March, a meme-coin frenzy swept the world. The Solana Network has been booming ever since. The meme coin frenzy has since cooled down, but it was a reminder to the industry about Solana’s enormous potential. SOL has now proven its faith in continued growth to the end the month.
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Source: watcher.guru