Solana (SOL) is flashing bullish signals as its price has continued to maintain steady growth over the last seven days. The sixth-ranked cryptocurrency has outperformed other digital assets on the top 10 list of crypto assets, as data from CoinMarketCap reveals.
Solana breaks $150 resistance, eyes $170
According to the data, over the last seven days, Solana has increased in value by 12.11%. SOL successfully breached the $150 resistance within this period and continues to show potential for higher price levels.
As highlighted by the U.Today article, if the market aligns with Solana’s golden cross technical indicator, SOL has the potential to hit the $170 zone. The projection suggests that Solana could reach a high of $172.51 in the midterm if a bullish breakout occurs.
Over the last 24 hours, Solana reached a peak of $154.42 before experiencing a slight pullback. As of press time, the SOL price was changing hands at $150.76, representing a 0.26% increase within the time frame. The steady, gradual increase has supported the coin to outperform others in the top 10 ranked crypto assets.
Ethereum is the closest asset in performance, with a 9.93% increase within the same seven-day period. Others include XRP, Dogecoin and Bitcoin, with growth rates of 8.10%, 7.81% and 5.61%, respectively.
Experts say Solana could flip Ethereum eventually
Solana’s figures lend support to Anthony Scaramucci’s prediction about the digital asset. Notably, Scaramucci believes that, in the long term, Solana will surpass Ethereum, despite the current significant gap in market capitalization.
You Might Also Like
Solana has a market cap of $80.26 billion, compared to Ethereum’s $299.04 billion. Despite this, Scaramucci says that Solana’s lower fees and faster transactions could ultimately fuel SOL’s dominance over the leading altcoin.
Scaramucci is not a lone voice in this optimism. Qiao Wang of Alliance DAO shared similar views earlier in May, emphasizing that Solana looks poised to become the largest ecosystem for founders as it gains traction over Ethereum.