SOL Price Prediction for June 2024: Solana (SOL) Targets $250 after Whale Consolidation
Solana (SOL) has been experiencing a consolidation phase and is currently trading around $137. However, the bulls are trying to regain control, targeting a SOL price of $250. Can they win the fight?
Here we examine technical data and possible outcomes and see if there is another coin that could bring similar or better returns.
Solana (SOL) price technical analysis
Solana (SOL) has been trading between $130-$160 over the past month, with strong support at the bottom and resistance at the top. The Relative Strength Index (RSI) shows that a coin is neither undersold nor oversold. This shows that Solana (SOL) is in a consolidation phase.
The 50-day moving average (MA) is currently acting as a moving support level, which is a bullish signal, and if this continues, the whale could reach the $250 target. If this happens, Solana (SOL) may initially target psychologically important levels. Around $200. If heavy trading volume allows it to break out of the $160 area, the price of SOL could reach $250.
On the other hand, if SOL price remains within the $130-$160 range, this could suggest that investors are waiting for greater clarity on the direction of the broader market. In a more neutral outcome, the price of SOL could plateau.
Conversely, if the price of SOL falls below the important $130 support level, this could be a bad sign and could potentially put the downside in check. In this case, depending on selling pressure and overall market conditions, SOL’s price may retreat to $100 or less.
Bitcoin (BTC)’s recent decline was caused by the Federal Reserve’s signal of a unilateral interest rate cut and the strength of the U.S. dollar. This put pressure on the overall market.
However, an Ethereum (ETH) ETF set to launch in July could bring some optimism to the market, which could help the bears hit their $250 SOL price target.
A groundbreaking pre-sale project is attracting attention with a 200% increase.
If Solana (SOL) were to claim the $250 level, that would be an 87% increase from the current price of $137.
This is a healthy profit and one that most TradFi traders can only dream of. But is there another coin with greater potential?
Experts think there is, and the coin is called DTX. DTX Exchange It recently recorded gains of 200% and is on track to achieve another 200% next week.
So what’s in this new coin and why are people so optimistic?
DTX Exchange (DTX) has the potential to revolutionize trading as we know it.
DTX calls itself a “next-generation decentralized trading exchange.”
Essentially, it is the best of a CEX, DEX, and trading platform all rolled into one. DTX Exchange (DTX) is currently in pre-sale, but the finished product allows traders to choose from over 120,000 financial products, from forex to synths.
What this means for traders is that they have access to all kinds of financial products. And the best part? No KYC, intrusive quizzes or geo-restrictions required. This is because it is built on the Ethereum blockchain.
DTX was designed with traders in mind. That’s why we offer ultra-low latency execution speeds, 1000x leverage, automated trading strategies, and we charge no commissions.
DTX is currently available for $0.04 and will be available for $0.12. This guarantees a 200% increase above the target price for Solana (SOL). And this is likely the beginning of a longer journey for DTX, which appears to have a solid roadmap.
Of course, there are risks in trading new coins, so you should DYOR. In other words, leveraging new coins in pre-sales shows how many cryptocurrency traders have become millionaires.
Check out the DTX pre-sale
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