With the recent launch of its native decentralized exchanges, Jupiter (JUP) and Raydium, Solana has witnessed a significant boost if DeFi volumes, outpacing the likes of Arbitrum (ARB), Optimisim (OP) and Polygon (MATIC)

Solana Price Prediction: The $200 resistance could cave any moment

After 4-years of trading, SOL, the native cryptocurrency and gas asset of the Solana blockchain, has reached a market cap over $85.5 billion, to become 5th ranked crypto asset globally, ahead of the likes of Ripple (XRP) and Cardano (ADA)

On March 16, SOL price broke out towards $197 as the anniversary celebrations kicked off. But the Bollinger band technical indicator suggests that the price could swing further above $200 in the coming days.

As seen below, after 68% gains in March 2024, Solana price now sits above the upper-limit of the Bollinger band indicators. This rare market alignment is often a signal of overwhelming bullish momentum.