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Solana reaches a 7-month peak, breaking past $200, with analysts anticipating a strong continued uptrend and potential for further gains.
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Solana (SOL) has become the most dominant crypto asset, with a move that has taken it to the highest point within the past seven months. This rally has sparked energy into the entire crypto space as traders and analysts continue to wait and see how high Solana can go.
As investors regain confidence in SOL and the market fundamentals are strong, the rally might be in the early stages of a spectacular bull market, which makes Solana one of the best altcoins to watch right now.
Solana price jumps above $200
The Ethereum Killer has reached the $200 level. The last time it traded at this value was in March 2024. Currently, the Solana coin has another chance to set a new all-time high in the coming weeks.
According to price information from CoinMarketCap, its ATH is at $260. Meanwhile, this potential surge has led to the revival of interest in Solana as it replicates the same movement of Bitcoin to new highs.
Analysts have attributed this synchronized price movement to the enhanced investors’ confidence in the digital currency markets, which can be attributed to the recent U.S. elections and the expected crypto-friendly legislation.
Regulatory landscape: A path toward Solana ETFs?
The American political aura is likely to influence the crypto market going forward. There is increasing optimism for pro-innovation policies as President-elect Donald Trump is set to assume the presidency.
Trump has earlier promised to make the US the epicenter of cryptocurrency in the world during his campaigns. He also talked about removing the present SEC Chair, Gary Gensler, who has not been really fair to the crypto sector.
This kind of regulatory stance could be the signal that traditional investors needed to gain access to SOL through Solana-based ETFs. Market confidence has always been driven by favorable legislation, and the possibility of efficient cryptocurrency legislation under this administration could lead to long-term investment in Solana.
With policymakers gradually shifting toward a more defined regulatory outlook, Solana could very well be placing itself for broader use cases and long-term viability.
Analysts forecast upsurge for Solana
The Solana crypto crossing the $200 mark has thrown the market into jubilation. Analysts like CROW believe the cryptocurrency could mirror pump to $800 before the end of this year.
Another expert, Mihir, forecasts the value of the Solana token might rally to $900. According to them, the latest breakout above $200 is a bullish sign and points towards more uptrend in the coming months.
Meanwhile, Lochie2001 forecasts a price surge to $310-$340 before the new year. At the moment, most of Solana’s indicators, like the 14-day RSI and VWMA (10), are bullish.
Why Lunex Network has been gaining the attention of investors
Lunex Network (LNEX) has been a sensation in the crypto market due to a robust price trend. The price of LNEX tokens has risen by 58% from $0.0012 to its current price of 0.002. Lunex is on the radar of both newbies and professional investors. Analysts expect the price of the DeFi coin to jump 10x.
The platform offers cross-chain swap, where users can trade more than 50,000 cryptocurrencies spanning across Ethereum, Solana, BNB Chain, and more. This feature increases traders’ profits as it lowers the fees involved.
Lunex also values the privacy of its users. It has a no-KYC policy. The DeFi project provides users with complete anonymity, which may attract traders who value their privacy. With the help of this no-KYC approach and cross-chain option, Lunex could become a top player in the DeFi market.
To learn more about the Lunex Network, visit the Lunex Network and its socials.
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This article first appeared at crypto.news
