Source: Midjourney
The Solana price has jumped by 9.5% in the past 24 hours, rallying to $115 after rising Bitcoin ETF volumes helped push the crypto market towards a 5% gain today.

another yuge day for the ETFs
almost 500m inflow
h/t @FarsideUK for the data pic.twitter.com/8zuhZjfK2E
— #333kByJuly2025 (@CarpeNoctom) February 13, 2024

SOL has now risen by 19% in a week and by 17.5% in the last 30 days, with the altcoin also sitting on a 450% increase since this time last year.
Such is SOL’s momentum that the coin is likely to make more gains in the coming days and weeks, particularly as the wider market remains in a bullish phase.
As for whether it can reach a new all-time high this year, this will depend on whether the Solana blockchain can avoid a repeat of last week’s outage.

Solana Price Prediction as SOL Spikes Up to $115 – New All-Time High Possible?

SOL’s chart continues to indicate very strong momentum, while also leaving room for further gains in the near term before the coin firmly enters overbought territory.
Its relative strength index (purple) is about to touch 70 today, after spending a month and a half near (or even below) 50, with this improvement likely to continue at least until it reaches 80 or higher.
Source: TradingView
At the same time, SOL’s 30-day average (yellow) has begun rising at a higher angle, putting even more distance between itself and the 200-day average (blue).
This all underlines the fact that SOL (like much of the market) is in the middle of an expansionary phase, and after 2022 and early 2023, such a phase could continue for a while yet.
Indeed, SOL’s support level (green) suggests that the coin is going to maintain and consolidate its recent movements, with few signs of an incoming correction or crash.

🚨 99,999 #SOL (10,511,803 USD) transferred from unknown wallet to #Binancehttps://t.co/ja1NVXWANQ
— Whale Alert (@whale_alert) February 12, 2024

But with SOL hitting its highest level since April 2022, investors need to be wary that whales may take the opportunity to take profits in the next few days, meaning that SOL could have the occasional wobble.
The longer term picture, however, remains very positive, with the market likely to become even more bullish in the buildup to the next Bitcoin halving, which is due in and around April.
The Solana price will come along for the ride, helped along by the Solana blockchain’s recent growth, particularly in the areas of NFTs and DeFi.
The only possible headwind relates to last week’s outage, with SOL likely to take a big hit if there’s another network disruption.
But for now, the Solana price is on track to reach $200 by the end of spring.

Bullish Diversification with Small-Cap Alts

SOL isn’t the only coin in the market with high potential this week, with a wide variety of smaller cap tokens also showing the possibility of rally big very soon.
One of these coins is Sponge (SPONGE), an ERC-20 cryptocurrency that launched the second version of its token last week, listing on Uniswap and doubling in value within a day.
Running on Polygon, SPONGE V2 carries two important new features, with the first being an improved staking model that can provide yields of over 400% APY.
This yield depends on the number of tokens stakers have locked up, as well as for how long they’ve staked, with long-term holders receiving bigger rewards.

📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024

The second key feature of SPONGE V2 is that it’s the native token for a soon-to-be-released P2E racing game set in the Sponge universe, with this game set to launch around the time SPONGE V2 lists on centralized exchanges.
The game will provide its players with the opportunity to compete to rank the highest on a worldwide leaderboard, with the most successful players winning rewards in SPONGE.
While a Sponge hasn’t yet provided a specific launch date, investors can already buy SPONGE V2 by going to Uniswap or by visiting the official Sponge website.
Source: DEXTools/TradingView
As the chart above shows, SPONGE is currently 100% up from its listing price, having gained by 7% in the past 24 hours.
And its price is likely to only increase further as more exchanges list the promising new token.
Buy Sponge V2 Here
 
 
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Solana Price Prediction Following Recent Rally – What Do Market Indicators Suggest?

Source: Midjourney
The Solana price has declined by 4.5% in the past 24 hours, retracing its steps back to $104.89 after a strong weekend for the altcoin and wider crypto market.
SOL has now risen by 8% in a week and by 12.5% in the last 30 days, with the coin also sitting on a very impressive 400% gain in the past year.
Given just how strongly SOL has rallied in recent months, it’s arguable on the basis of indicators that the coin is likely to correct further.
Yet analysts expect the crypto market to become increasingly bullish in the face of rising Bitcoin ETF inflows, implying that SOL could see further strong gains after a brief correction.

Solana Price Prediction Following Recent Rally – What Do Market Indicators Suggest?

Looking at SOL’s chart, it’s possible that the coin may fall further in the near term, at least judging by its indicators.
Most obviously, its relative strength index (purple) has fallen from around 65 to 55 in the past day or so, signalling a clear loss of momentum.
Source: TradingView
Having said that, its 30-day moving average (yellow) is in more of a mixed position, with the average still rising modestly beyond the 200-day average (blue).
But with SOL’s current price dropping towards the 30-day, the two latter could end up falling in the next one or two weeks.
It’s probable that it won’t fall far, however, since SOL’s support level (green) has resisted big drops since December, implying that the current correction shouldn’t be too severe.
The reason for SOL’s gains over the weekend – which today’s drop hasn’t dented too much – is that Bitcoin ETF volumes have buoyed the market and trader optimism considerably, having a beneficial effect on most altcoins as well.

🚨 🚨 🚨 688,765 #SOL (73,965,690 USD) transferred from unknown wallet to unknown wallethttps://t.co/lMRmxkMfM0
— Whale Alert (@whale_alert) February 9, 2024

 
But as strong as SOL still looks in the medium- and long-term, traders need to be mindful of the possibility of another outage.
After nearly a year of 100% uptime, the Solana blockchain went down for around five hours last week, raising question marks as to whether it had truly recovered as a network from 2022’s issues.
At the moment it seems as though few traders are especially bothered by the recent downtime, yet if something similar happens in a relatively short space of the time, the Solana price could take a big hit.
But for now, growing bullishness and rising Solana usage is likely to push SOL up to $150 by the spring.

Small-Cap High-Potential Alts

Because SOL rose so aggressively last year, there remains a chance that it won’t rise quite as vigorously this year, instead enjoying steadier growth.
For traders looking for quicker above-average gains, the temptation may therefore be to look towards smaller cap alts, particularly those that could rise strongly as they list on new exchanges.
Possibly the prime candidate to do this at the moment is Sponge (SPONGE), an ERC-20 cryptocurrency that launched the second version of its token last week.
Known as SPONGE V2, this second version replaces the earlier version of the popular meme coins, which originally listed – and surged – on exchanges in April 2023.
SPONGE V2 is currently listed on Uniswap, yet the token’s interesting new features will certainly mean that other exchanges will list it soon enough.
For one, the token’s new version features an improved staking model, providing a variable yield that can rise significantly depending on the number of stakers and how much they’ve staked.

If you missed out on $SPONGE V1, don't miss out on #SpongeV2!
Time to stake your $SPONGE! 🚀🧽#MemeCoin #Web3 #Altcoins #BullMarket #Bullish #Trade pic.twitter.com/oNwatR7ihw
— $SPONGE (@spongeoneth) February 10, 2024

Secondly, SPONGE V2 is the native token for a soon-to-be-released P2E racing game set in the Sponge universe, giving the coin more utility than many other new meme tokens.
In this incoming game, players will compete to rank the highest on a worldwide leaderboard, with the best among them receiving rewards in the form of SPONGE tokens.
Investors can already buy Sponge V2 by going to Uniswap or by visiting the official Sponge website.
Source: DEXTools/TradingView
Impressively, the token has gained by 86% since listing a week ago, yet further listings are likely to push it even higher in the coming weeks.
Buy Sponge V2 Here
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.