The meteoric price rise of Solana (SOL) has largely boosted the cryptocurrency market. The token has shown a stunning price progression, with unbeatable momentum at the moment.
According to CoinMarketcap, Solana is up almost 60% over the past month. At press time, the token sits at $183, raising hopes that it will soon reach an all-time high.
In a recent development, Solana continues to hit new records. The token saw an increase in its wallet transactions and has now reversed the BNB chain into daily active addresses.
Also Read: Solana: Can SOL Reach $300 in April 2024?
Solana Reverses BNB in Daily Active Address Count
The crypto bull market phase particularly favors Solana on all possible fronts. According to Solana Floor, SOL recently surpassed the BNB chain in terms of the number of daily active addresses. On March 26, the daily number of active addresses on Solana hovered around 1.5 million, while BNB chain metrics stabilized at 1.4 million.
Additionally, the current phase of the bull market has noted Solana’s growing pre-sale coin frenzy, leading the token to reach new highs. Degen News, a crypto news platform, reached out to X to share another key detail about Solana’s latest meme presale plans. The platform explained how Solana took over Ethereum by producing and hosting some of the biggest coin projects this bull season.
What awaits Solana in April?
Solana’s recent price action is a mix of different market elements. The token previously encountered resistance at various price levels before briefly touching a new ATH of $200. SOL currently sits at $183, down 2% in the last 24 hours.
For April, leading crypto prediction platform CoinCodex has predicted a bullish trend for Solana. The platform expects Solana to grow by 227% by April 27, 2024.
“According to our current Solana price prediction, Solana price is expected to rise by 227.56% and reach $593.96 by April 27, 2024. According to our technical indicators, the current sentiment is bullish, while the Fear and Greed Index displays 80 (extreme greed). Solana recorded 19/30 (63%) green days with price volatility of 16.75% over the last 30 days.
Likewise, the platform previously predicted price levels at which Solana may experience slight resistance and pressure.
Also Read: Solana Daily Active Wallets on Network Ramp Up: Is SOL Eyeing $250?
“Based on the current classic pivot point (P1) worth $186.46, Solana has support levels of $180.70, $175.18 and the strongest at $169.41. Similarly, Solana’s resistance levels are at 191.98, 197.75 and 203.26.
However, for April, the overall momentum forecast for Solana looks positive on all fronts. It is worth noting that SOL will need to maintain its uptrend to reach ambitious price levels above $200.
“The Solana price prediction for the next 30 days is a projection based on the positive and negative trends of the last 30 days. Based on these Solana projections, SOL will change hands at $269.17 on April 4, 2024, gaining 48.45%.
reference: watcher.guru