Is Solana Crypto Set To Hit A New All-Time High?

Solana SOL/USD price touched an all-time high of $214.96 in September and it was hovering 3.5% below that level at press time.

What Happened: Solana is a token of a high-performance blockchain protocol focused on decentralized applications or DApps. 

Solana Crypto has risen 11189.73% since the year began and, over 90 days, Solana has risen 644.63%.

Solana’s price has broken over the $200 resistance with strong volume as per altFins, with an upside to $250.

At press time, trading volumes rose 60.41% to $4.1 billion as the cryptocurrency rose 7.82% to $209.25.

Binance cryptocurrency exchange is the largest market for Solana where volumes rose 21.78% to $893.57 million. Other notable exchanges include Coinbase Global Inc COIN and FTX.

See Also: How To Buy Solana (SOL)

Why It Matters: Analysts are bullish on SOL with “The Crypto Dog” tweeting that it “looks the strongest” to them.

Jason Lau, COO of cryptocurrency exchange Okcoin feels the coin would encounter resistance at $215, but if it could rise above that mark, more upside is possible, reported Forbes.

“$215 is the last all time high so resistance is expected. If we can clear this, $250 is certainly possible.”

Last week, SOL had benefitted from a rally in Layer 1 Smart Coin solutions and the announcement related to the beta launch of Squads, a decentralized autonomous organization (DAO) generator. 

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