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The cryptocurrency market is experiencing a renewed wave of optimism as Bitcoin rebounds from one of its biggest price wicks this month. This surge has provided a much-needed boost for Solana (SOL) and other altcoins, which have seen sharp price gains over the past two days. On January 13th, Solana’s price dipped as low as $169, mirroring Bitcoin’s volatile price action, but it quickly jumped back to $180, demonstrating its resilience.
The significant drop in Solana’s price on January 13th, which exceeded 11%, occurred in tandem with Bitcoin’s market fluctuations. SOL broke through its key support level at $185, briefly trading below $170 on major exchanges. However, the altcoin has bounced back strongly, currently trading near $215—a more than 15% increase in the past 24 hours, marking a 27% rise from its weekly low.
SOL Price to New ATH?
As Bitcoin reclaims its momentum, having surged back above the $100,000 mark after dipping below $90,000 on January 13th, there’s speculation that Solana may follow suit. The current market rally has ignited hopes that Bitcoin, Solana, and other major crypto assets could reach new all-time highs (ATH). For Solana, its previous ATH stands at $263.83, set in November 2024, when Bitcoin crossed the $90,000 threshold.
With the crypto market showing signs of renewed bullish sentiment, some analysts believe that Solana could potentially break the $300 mark if this upward trend continues. A surge of new investors and fresh capital flowing into the crypto space could fuel such gains. Moreover, speculation about the potential growth of the cryptocurrency market under a future Trump administration adds further weight to the belief that a new wave of growth is on the horizon.
Also Read: Solana Price Prediction: Will SOL Drop Below $140 Amid Bearish Momentum?
In conclusion, if the current momentum holds, Solana’s price could continue to rise sharply, with the possibility of reaching new all-time highs in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
