Market analysts anticipate that after the Solana price reaches its all-time high this year, it will surge all the way to $500.
The Solana (SOL) price continues to advance despite intense market volatility, attaining $145 after gaining an additional 5%.
SOL is currently facing a major rejection at $150, a level not witnessed in the last two years.
Solana (SOL) Price Anticipates A Two-Year Breakout
Among crypto enthusiasts, anticipation grows as Solana (SOL) approaches the significant threshold of $150.
As per the findings of Santiment, an on-chain data provider, Solana has approached this prospective milestone for the first time since January 16, 2022.
In light of its ranking as the 5th largest cryptocurrency by market capitalization, crowd sentiment regarding Solana seems to be marginally bullish.
Nevertheless, analysts observe that the sentiment is not characterized by the usual fervor that accompanies the fear of missing out (FOMO), a factor that may impede a rally.
In the past, uncertainty has functioned as a catalyst that has caused a price surge within the cryptocurrency market.
With Solana’s price approaching a critical threshold, market participants are awaiting additional information to assess the direction of its upward movement.
SOL Price Rally Approaches
Several market analysts have forecasted that Solana will experience a substantial rally soon, reaching $200 and beyond.
Major support for the upcoming SOL price surge comes from the robust trading activity of Solana-based meme coins such as Dogwifhat.
Conversely, significant market participants have demonstrated an increasing inclination to acquire Solana at its present price.
Pantera Capital made its decision to raise an astounding $250 million on Thursday, March 7, to acquire all of FTX’s Solana holdings.
The fund’s objective is to acquire Solana tokens at substantial discounts from the estate of the insolvent digital asset exchange FTX.
Despite its present ascent, SOL remains 43% below its most recent all-time high (ATH) of $259, which was attained in November 2021.
However, optimism exists that SOL will surpass its previous all-time high in the current market cycle, with the extent of the breakthrough being the only variable, according to crypto analyst Altcoin Sherpa.
Additionally, he stated that a price increase of $1,000 for Solana during the subsequent bull run is not implausible.
