Is Solana Crypto Set To Hit A New All-Time High?

Solana SOL/USD price touched an all-time high of $214.96 in September and it was hovering 3.5% below that level at press time.

What Happened: Solana is a token of a high-performance blockchain protocol focused on decentralized applications or DApps. 

Solana Crypto has risen 11189.73% since the year began and, over 90 days, Solana has risen 644.63%.

Solana’s price has broken over the $200 resistance with strong volume as per altFins, with an upside to $250.

Solana Price Chart: Courtesy, altFins.

At press time, trading volumes rose 60.41% to $4.1 billion as the cryptocurrency rose 7.82% to $209.25.

Binance cryptocurrency exchange is the largest market for Solana where volumes rose 21.78% to $893.57 million. Other notable exchanges include Coinbase Global Inc COIN and FTX.

See Also: How To Buy Solana (SOL)

Why It Matters: Analysts are bullish on SOL with “The Crypto Dog” tweeting that it “looks the strongest” to them.

Keeping it simple right now, no shotgun season - $SOL looks the strongest to me, so I'm concentrated in SOL.

— The Crypto Dog(@TheCryptoDog) October 21, 2021

Jason Lau, COO of cryptocurrency exchange Okcoin feels the coin would encounter resistance at $215, but if it could rise above that mark, more upside is possible, reported Forbes.

“$215 is the last all time high so resistance is expected. If we can clear this, $250 is certainly possible.”

Last week, SOL had benefitted from a rally in Layer 1 Smart Coin solutions and the announcement related to the beta launch of Squads, a decentralized autonomous organization (DAO) generator. 

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