Analysts predict the coin will surge past $300 following the intensifying activities in Solana. However, the token price has been experiencing a price decline and is currently trading below the $240 resistance zone. In the past week, SOL prices declined by 10% and it’s currently trading around the $230 zone.
Solana to Hit $300
Solana’s price witnessed a 2.7% intraday increase to trade at $230 level after a 3-day losing streak. The price increase came after a positive reaction to the U.S. Fed rate pause decision. The Fed’s decision to maintain interest cuts at the level propelled the overall crypto market price rally.
SOL traders seized the opportunity to buy at the dip, the price of SOL experienced a soar in the market after the token price heightened to $239 after opening the market at $227. The sudden increase marked a turning point in the market and investors’ confidence in the price.
Moreover, on the 4-hour chart, bullish sentiment is expected after the RSI was seen in the oversold territory signalling a cooldown in the selling pressure. A trade above the $246 resistance zone will signal bulls have taken over the market. Moreover, trading above the resistance zone is crucial for bulls to regain control and a signal of break out.
Solana Technical Outlook
On the technical outlook, SOL has been volatile and currently trying to trade above the serious resistance zone. Solana’s price appears to be poised for an extended rebound towards the $250 level.
Despite a sharp decline of 11.44% over the past two days, Solana’s price action is showing signs of a potential local bottom after dropping to $222.63 before rebounding to $231.08. However, a continuation of the fall will decline the price to $200, but a breakout to the upside will soar the price above $250 before surging the token to $300
Moreover, on the weekly chart, SOL price has formed a cup and handle, a break above the $274 resistance zone will soar the price above $500.
If SOL continues its upward trajectory, it could reach its all-time high of $295.83. If that level is successfully closed, it would extend the rally towards the psychologically significant $300 level.
Ozak AI
Most of Solana’s swing traders are bullish on the Ozak AI project, despite the SOL price experiencing a potential breakout and promising massive returns, Ozak AI has the potential to soar in the future.
Currently priced at $0.003 and raising over $700k, investors believe the token will soar past $1 after the token promises to soar to $0.005.
Additionally, the 3rd stage of the Ozak AI presale is on, and the project is already making waves in the crypto community. With an impressive $700K raised so far, Ozak AI tokens are currently priced at just $0.003 each, with the next stage price set at $0.005. This early-stage opportunity is poised for significant growth, with projections suggesting that the token could reach $1 by 2025.
About Ozak AI
Ozak AI is a blockchain-based crypto project that provides a technology platform which specializes in predictive AI and advanced data analytics for financial markets. Through machine learning algorithms and decentralized network technologies, Ozak AI enables real-time, accurate, and actionable insights to help crypto enthusiasts and businesses make the correct decisions.
For more visit:
Website: https://ozak.ai/
Telegram: https://t.me/OzakAGI
Twitter : https://x.com/ozakag
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
