- Solana reached a new all-time high of $290 and continued to surge
- CMF showed remarkable capital inflows, reaching levels last seen in March 2024
Solana [SOL] was the talk of the town in the large-cap crypto space. In the past 24 hours, it experienced an 18.8% increase, while other top 10 coins (excluding stablecoins) saw gains of less than 5% at best, with some even posting losses.
This surge was reminiscent of past events, like the time when Dogecoin [DOGE] skyrocketed by nearly 1000% in a month during the last bull run, outperforming most other assets. This time, the spotlight is on the Solana-based memecoin Official Trump [TRUMP], backed by Trump.
Solana Hits All-Time High and Aims for $370
Source: SOL/USDT on TradingView
A Fibonacci retracement level was charted during the November rally, extending from $155.11 to $264.39. Bulls defended the 78.6% retracement level at $178.5 in recent weeks.
The recent TRUMP memecoin craze increased demand for SOL. The visibility of the Solana chain may have also contributed to the significant gains, fueled by rumors of a U.S. strategic reserve and ETFs.
The next price targets for Solana are set at $331.9 and $373.6 in the coming weeks. The RSI was in overbought territory, and the CMF hit levels not seen since March 2024, showcasing strong bullish momentum for the altcoin.
The 3-month liquidation heatmap indicated that major liquidity pockets to the north had been absorbed. The path above $300 was relatively clear, with the $290-$300 range being the only obstacle.
Read Solana’s [SOL] Price Prediction 2025-26
The price action suggests that significant gains are on the horizon after setting a new all-time high. With Bitcoin [BTC] hovering around $105k, Solana could have ample room to continue climbing, potentially reaching $400.
Disclaimer: The information provided is the writer’s opinion and does not constitute financial, investment, trading, or any other form of advice