- Solana set a new all-time high, hitting $290 at press time while continuing to climb higher
- CMF was at highs previously seen in March 2024, highlighting remarkable capital inflows
Over the past day, Solana [SOL] has significantly outperformed other large-cap cryptocurrencies, surging by approximately 18.8%. In contrast, the top 10 crypto assets (excluding stablecoins) saw gains of less than 5%, with some even experiencing losses.
In a previous market surge, Dogecoin skyrocketed over 900% in a single month, significantly outshining other investments during that period. Now, during this current rally, it’s the Solana-based, Donald Trump-endorsed meme token, Trump Coin [TRUMP], that is drawing attention and potentially surpassing expectations.
Solana posts all-time high, targets $370
In November, the rally served as a guideline to establish Fibonacci retracement points. This rally spanned from $155.11 to $264.39. Lately, the 78.6% retracement point at $178.5 has been successfully held by the bulls.
The surge in popularity of TRUMP-themed meme coins has fueled interest in SOL as well. Furthermore, the increased attention on the Solana network might have amplified its returns, given talk about a potential U.S. strategic holding and exchange-traded funds (ETFs).
In simple terms, it’s expected that Solana’s price might reach $331.9 or $373.6 in the upcoming weeks. Currently, its Relative Strength Index (RSI) shows signs of being overbought. Moreover, the Chaikin Money Flow (CMF) has reached heights not seen since March 2024, suggesting a very strong bullish momentum for this altcoin.
Eventually, the 3-month liquidation chart showed that significant liquidity pools situated in the northern regions had been emptied out. Meanwhile, the area between $290 and $300 persisted, but above $300, it appeared to be relatively free of congestion or activity.
Read Solana’s [SOL] Price Prediction 2025-26
Based on recent price trends, it appears significant upward momentum is imminent as a new record high has been reached. Given Bitcoin [BTC] currently hovers near the $105k level, Solana might have ample time to climb further, potentially surpassing the $400 threshold.
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2025-01-20 06:15