Solana Hits $246 as DEX Volume Tops Ethereum — Is $250 Just the Beginning of SOL’s Run?

Solana's price surged to an impressive $246 recently, driven by a spike in decentralized exchange activity outperforming Ethereum. Could $250 be the next milestone for SOL? This article delves into the factors propelling Solana's rise and explores which other cryptocurrencies might be poised for significant growth.

Solana Price Soars: Will It Continue Its Upward Momentum?

Source: tradingview 

Solana's price is currently sitting in a range between the low $200s and mid-$200s. It's been climbing rapidly, showing about a 93% rise in six months. The nearest hurdle for further growth lies at $275, which could soon be within reach if the upward trend continues. Beyond that, the next potential target is $319. If Solana breaks through these levels, it could potentially see gains of around 20% to 50% from its current range. The coin's momentum is evident in its recent weekly jump of over 10% and a month-long leap of over 35%. With strong support around $187, Solana seems poised for more action.

Conclusion

SOL has demonstrated impressive growth by hitting $246 and surpassing Ethereum in DEX volume. This significant milestone signals robust interest and potential for further gains. Given the current momentum, reaching $250 could be just the start of a larger upward trend. Additionally, strong DEX activity indicates sustained user engagement and confidence. The market will be closely watching SOL's performance as it continues to evolve.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.