Solana Price Prediction: All Eyes on This Support Level – $500 Target is Next
Main Idea
The article discusses Solana's price prediction, focusing on key support levels and potential milestones, including a $500 target, while also highlighting opportunities within the Solana ecosystem.
Key Points
1. Solana price prediction focuses on the $500 milestone, with a critical breakout level at $297.
2. A 4-month ascending channel and falling wedge breakout are noted in the SOL/USDT 4-hour chart.
3. Momentum indicators show weakness, with RSI hovering low and MACD teetering on a death cross.
4. A second bounce off $157 could strengthen the uptrend, with $207 marking the threshold for a breakout.
5. Potential catalysts include interest rate cuts and spot ETF approval, which could drive a 205% rally to $500.
6. The Solana ecosystem offers higher gain opportunities, with projects like Snorter ($SNORT) providing trading tools and staking rewards.
Description
A critical breakout level at $297 is now back in focus, opening the doors for a bullish Solana price outlook going into the final quarter of the year. Fundamentals are warming for a move as the macro backdrop is starting to shift in favor of risk assets like altcoins . Speculators now expect up to three rate cuts before year-end, starting as soon as September. FED CAN NOW DO 3 RATE CUTS BY THE END OF 2025. MORE LIQUIDITY = ALTSEASON pic.twitter.com/0Q8uwjjkrb — Max (@MaxCryptoxx) August 5, 2025 ...
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