Solana Price Prediction as SOL Becomes 4th Most Traded Crypto – Can it Overtake ETH and Bitcoin Next?
Main Idea
Solana (SOL) has become the fourth most traded cryptocurrency, showing strong retail-driven liquidity and potential for growth, though technical analysis suggests a possible near-term correction.
Key Points
1. Solana ranks sixth by market cap but is emerging as a preferred altcoin due to retail-driven liquidity, with $20 billion in 24-hour trading volume contributing to a 5% gain.
2. Despite its growth, Solana has yet to benefit from a spot ETF approval, leaving institutional capital largely untapped compared to Ethereum and Bitcoin.
3. Technical analysis indicates a potential 7.6% rise to $211.70, but the RSI suggests overbought conditions, with a likely 4.2% pullback to $190 support.
4. Regulatory optimism and upcoming legislative catalysts, such as the CLARITY Act, could drive further upside, but macroeconomic risks may suppress momentum in the short term.
5. Alternative opportunities like Snorter ($SNORT) are gaining attention, offering high APY staking and trading tools, raising over $1.9 million in presale.
Description
With altseason sentiment heating up, SOL has become the fourth most traded cryptocurrency outside of stablecoins, a sign of bullishness for the Solana price outlook as demand outpaces its market cap rank. It trails behind Ethereum, Bitcoin, and Dogecoin with almost $20 billion in volume over the past 24 hours, contributing to a 5% gain as capital rotates deeper into altcoins . Top 5 cryptocurrencies by 24-hour volume. Source: CoinGecko . Geopolitical and macroeconomic FUD has largely cleared, re...
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