Solana (SOL) is currently among the standout cryptocurrencies, recording significant buy pressure as the token seeks to breach new highs.
Notably, the recent buying pressure has elevated Solana to the fourth-highest crypto by market capitalization, surpassing Binance Coin (BNB). As of this writing, SOL had a market cap of $87.05 billion, flipping BNB, which had a capitalization of $86.22 billion.
At the moment, Solana is targeting the $200 mark after clearing the $180 resistance zone. By press time, SOL was trading at $186 with daily gains of over 2%. The recent bullish momentum is visible in the weekly timeframe, with Solana up by over 10%.
SOL price prediction. Source: ChatGPT-4o
Notably, ChatGPT-4o acknowledged that Solana flipping Binance Coin in market capitalization signifies a major shift in the crypto landscape.
Analysts take on Solana
Other analysts complement this projection by believing SOL is destined to hit new highs. For instance, as reported by Finbold, cryptocurrency expert Ali Martinez believes SOL is set to deliver on its bullish promise. He noted that chart patterns suggest the token could now rocket to $1,700.
SOL price analysis chart. Source: TradingView/ Ali_charts
Overall, if Solana maintains the current bullish momentum, the token could easily target the $200 resistance zone on the way to a new record high.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
