Solana (SOL) has experienced a significant rally, gaining over 7% and reaching its highest level since July, surpassing a market cap of $10 billion. The cryptocurrency has overtaken rivals Dogecoin (DOGE) and Cardano (ADA) to become the seventh largest cryptocurrency by market cap. Despite a previous collapse in price due to the bankruptcy of FTX, Solana has made a remarkable comeback in 2023. Its price has increased by over 200% from last year's lows, and its liquidity has rebounded. Analysts predict that if Solana can break above resistance levels, it could experience a fast rise towards a yearly high above $32, potentially resulting in gains of 27%. With optimism about upcoming Bitcoin ETFs and positive long-term adoption prospects, analysts believe it is a good time to buy SOL. Some experts even predict that Solana could reach all-time highs of $250-260 and potentially even $400 in the upcoming bull market. However, it is advised to take profits before reaching those levels.
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