{"id":23135,"date":"2022-04-05T12:55:12","date_gmt":"2022-04-05T11:55:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=23135"},"modified":"2022-04-05T12:57:20","modified_gmt":"2022-04-05T11:57:20","slug":"solana-sol-is-gearing-up-to-hitting-all-time-highs-heres-why","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solana-sol-is-gearing-up-to-hitting-all-time-highs-heres-why\/","title":{"rendered":"Solana (SOL) is gearing up to hitting all-time highs, here’s why\u00a0"},"content":{"rendered":"\n
Solana (SOL) the sixth-largest crypto<\/a> token by market capitalization dipped slightly on Tuesday after a stellar rise over the past month. However, the declines suggest that the token is likely gearing up towards all-time highs. <\/h5>\n\n\n\n
\"Solana
SOLANA<\/figcaption><\/figure><\/div>\n\n\n\n

SOL's price dropped as much as 7% to $126.94, and was currently trading at $133.26. It was also nearly 50% of what it was in November when it touched a record high of $258.96. Still,  the token has risen 38 percent since hitting seven-month lows in March making it one of the best-performing altcoins in the past month. <\/p>\n\n\n\n

SOL Technical Indicators run bullish<\/strong><\/h3>\n\n\n\n

SOL's Bitcoin (BTC) pair, according to popular crypto analyst @SmartContracter\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, is still in the midst of an extended W pattern recovery. The token is projected to continue to grow, albeit at a slower pace, to new highs in 2022. <\/p>\n\n\n\n

\"Solana<\/figure><\/div>\n\n\n\n

The token is likely to see sharp consolidation after this rise but will then challenge its all-time highs. <\/p>\n\n\n\n

After this 5 wave rise I think it\u2019ll have a fairly significant 20%+ pullback before it runs for ATH<\/em><\/p>\n\n\n\n

-SmartContracter<\/em><\/p>\n\n\n\n

Given that the token has struggled to consistently remain above $135, technical indicators for SOL's USD pair imply that $135 is the next resistance level. A concrete breach is likely to suggest much more gains. <\/p>\n\n\n\n

In its mid-March recovery, SOL had shown a Morningstar pattern. <\/p>\n\n\n\n

Institutional trading, PoS interest surge Solana<\/strong><\/h3>\n\n\n\n

The majority of the SOL's recent surge was fueled by increased institutional interest. The token is included in an exchange-traded product offered by European asset manager CoinShares, and it accounts for about a quarter of the weightage in a new fund launched by Grayscale.<\/p>\n\n\n\n

Ethereum's impending switch to a proof-of-stake (PoS) token has boosted interest in the medium, supporting SOL and its contemporaries such as Cardano(ADA) and Algorand (ALGO). The largest Proof-of-Stake token is SOL. <\/p>\n\n\n\n

After South Korea's Krafton, producer of the wildly popular PUBG videogame, teamed with Solana Labs, the promise of blockchain gaming on Solana boosted the token's value.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) the sixth-largest crypto token by market capitalization dipped slightly on Tuesday after a stellar rise over the past month. However, the declines suggest that the token is likely gearing up towards all-time highs.  SOL’s price dropped as much as 7% to $126.94, and was currently trading at $133.26. It was also nearly 50% […]<\/p>\n","protected":false},"author":32,"featured_media":23139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[132,275],"class_list":["post-23135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-crypto","tag-solana"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/solana-3.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/23135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=23135"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/23135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/23139"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=23135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=23135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=23135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}