Solana on Its Way to $250: The Bullish Trend Continues

The bullish rally of Solana (SOL) continues to gain momentum, making it the fourth largest cryptocurrency with a market capitalization of $93.29 billion. Currently, the token price is around $197.67, after briefly exceeding the $200 mark.

In the past few days, Solana has risen by 26.39%, and forecasts indicate the potential to reach new heights — $224 and $253, which correspond to Fibonacci extensions of 1.272 and 1.618. The positive trend is supported by bullish signals from the MACD indicator and the "golden cross" formed by the 50-day and 200-day SMAs.

For price support, the $183.65 level is crucial as it protects against a deeper pullback. Meanwhile, the Solana network continues to grow, with TVL reaching $6.855 billion, approaching its 52-week high.

If the bullish trend persists, Solana could break the psychological $250 mark.