Solana Price Prediction: Stuck at 140 USD — What is Holding SOL Back?

Solana has fallen to $145 today, due to ongoing tensions in the Middle East causing this alternative currency to wipe out most of the gains made earlier in the week. SOL has currently fallen 8% in a week and 13% in the past month, with the price of this currency fluctuating between 140 and 160 dollars since the end of May. This currency has been at risk of rising above the $160 mark until June 12, when Israel carried out its first airstrike on Iran, triggering a conflict that could escalate further. However, such macro conditions do not affect the fundamental factors of Solana, as this cryptocurrency and its blockchain are heading towards significant developments this year, driving long-term price predictions. Solana Price Prediction: Stuck at $140: What is Holding SOL Back from Breaking Out? Looking at the price chart of Solana, this altcoin may be about to break out, according to the direction of the indicators. Most notably, the (màu đỏ) resistance level and the green (màu support level cây) have been approaching each other for several months and are about to reach that level.

This could lead to a major move for the price of Solana, and when seeing the RSI ( purple) and MACD ( orange, blue) of this coin are both in oversold positions, such a move is likely to go up. Other bullish indicators include the trading volume of SOL, which is currently at $4.2 billion, while this token has also witnessed a series of large transfers over the past week. In addition, Solana remains the third most popular cryptocurrency among institutions, after Bitcoin and Ethereum, with digital funds holding a total of $1.39 billion SOL according to the latest statistics. These are all positive signs, and if we overlook the tensions in the Middle East, SOL will return to the $200 level by the end of next month. Looking at the big picture, Solana remains one of the strongest altcoins in the market, with a TVL of $8.3 billion.

In addition, there are expected to be several upgrades that could change the landscape by the end of this year, including the Alpenglow consensus update and the Firedancer validation application. These changes will help Solana be faster and safer, thereby attracting more users and applications. This is why the price of Solana is on track to reach 300 dollars in Q4 and 400 dollars by the end of the year.