Will Solana Price Soar to $300? Analyst Outlines Key Catalysts for Growth

By press time, the SOL price trades at $176.58 with an intraday gain of $3.34. Consecutively, the market cap jumped to $82.92 Billion.

Crypto Markets Saw a notable鈍化 at the end of October, which was most likely due to pre-election uncertainty. As Bitcoin slid back from $70,000, most major altcoins, including SOL, experienced a stalled recovery momentum. However, crypto analysts highlighted key factors that could boost Solana price for a rally to $300.

At press time, SOL price trades at $176.58 with an intraday gain of $3.34. Consecutively, the market cap jumped to $82.92 Billion.

Solana Price to Hit $300? Analyst Shares Key Catalysts for Growth

In a recent tweet, market analyst Eugene Ng Ah Sio highlighted a bullish view on Solana by combining key broader markets and SOl’s technical outlook. As the crypto market shows a hesitant recovery ahead of the 2024 U.S. election, these key factors could notably impact the Solana price prediction.

Solana Chart Analysis Hints 4% Surge Before Major Breakout

In the last two months, the Solana price showed a notable recovery from $120 to $175, registering a growth of 46%. As mentioned above, this recovery broke through a significant resistance trendline at $160, opening the path for further gains in the asset.

The daily bollinger band indicator challenging on the upside further indicates an active high momentum rally. With sustained buying, the SOL price could jump 4% before challenging the resistance trendline of the bull flag.

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