Solana Price Prediction: SOL looks set to see a ‘dramatic increase’ in interest from large investors as analysts say they consider this Solana meme coin to have 100x potential.

adminApril 27, 2024

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Solana price fell 1.4% in the last 24 hours. Deal for $142 As of 7:35 a.m. EST, trading volume was down 21% to $3.6 billion.

Despite the decline, a CoinShares survey found that SOL is seeing a “dramatic increase in allocation” from institutional investors, including hedge funds and asset managers.

“Investors are more optimistic about Solana,” research director James Butterfill said in an April 24 report.

According to a report by CoinShares, institutional investors appear to be “expanding their exposure to altcoins,” including Solana, which has seen a “dramatic increase in allocation” from asset managers and hedge funds.
— LondonCryptoClub (@LDNCryptoClub) April 26, 2024

About 15% of investors said they had invested in SOL, a significant increase compared to none in the January survey. SOL also ranked third behind Bitcoin and Ethereum in terms of “most compelling growth prospects,” the survey found.

The findings are based on a survey of 64 investors with a total of $600 billion in assets under management.

Solana price outlook

The price of Solana has been stable for some time, trading in the range of $126 to $133. The bulls then took the lead, resulting in a 20% surge that drove the momentum towards the $160 resistance level.

Solana prices

SOLUSD chart analysis. Source: Tradingview.com

The bears took control, pushing the price lower and forcing the bulls to retreat to around $142. If this trend continues, the price of SOL may fall further towards the $133 support area.

Additionally, the price rose close to the 200 SMA before bearish intervention before falling below the 50-day simple moving average (SMA). However, if the overall bullish sentiment returns, bullish momentum could push the price above the 50 and 200 SMA, indicating the potential for a bullish rally.

The relative strength index (RSI) is also showing signs of a rebound near 40, just below the midline of 50. If momentum returns, RSI may enter overbought territory.

Solana Price Bulls Preparing for Another Bull Rally

Despite falling from its all-time high of $160 and trading below the 50 SMA, Solana price indicates an overall upward trend. SOL price strength could spark further bullish momentum, pushing the price up to $205 in the coming weeks.

However, if the bears maintain control below the 50 SMA, the price bulls may pull back towards the $126 support level.

SMOG: Is This the Next 100X Meme Coin?

Some say SOL has even more upside potential as traders look to it for potential buying opportunities. SMOG. YouTube channel 99Bitcoins, which has over 700,000 subscribers, says the token still has 100x upside potential.

Smog is perhaps best known for its promise to deliver the “greatest airdrops of all time.” Season 1 ended on April 3 after giving away $1 million.season2 Things are going well now.

This season, rewards will be available for on-chain and trading activity, adding another incentive for traders and investors to participate in SMOG.

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Purchase, hold, and complete quests at: #jilly To qualify for the airdrop and climb the leaderboard! 🥇
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— Smog_Token (@Smog__Token) March 13, 2024

$SMOG holders have the option to stake their tokens on the Ethereum network for annual returns of 42%. With Smog’s developers hinting at additional top-level exchange listings soon, now could be a good time to buy.

Buy SMOG using ETH, USDT or bank cards on the official website here., And get a 10% discount during that time.

SMOG – Meme Coin with Rewards