Solana Price Prediction: As Wall Street Rotates Into Alts, SOL Could Lead the Next Mega Rally

The Solana price (SOL) has slipped 3% to $151.69 today, as the crypto market reacts to rising geopolitical tensions amid the escalating Iran-Israel conflict.

While SOL is now down 4% in a week and 11.5% over the past month, institutional appetite for crypto appears to be returning, with $1.9 billion in inflows last week alone — a potential sign of what’s to come.

And with growing speculation around a Solana ETF approval later this year, the long-term Solana price prediction still points to major upside once the dust settles.

According to the latest CoinShares Digital Asset Fund Flows report, cryptocurrency funds attracted just over $1.9 billion in net inflows across the week to June 16th.

The vast bulk – $1.3 billion – was for BTC-based funds, with altcoins accounting for the remainder.

Digital assets defy geopolitical tensions with further Inflows of US$1.9B

Digital asset investment products saw inflows of US$1.9B last week. @Bitcoin and @ethereum saw inflows of US$1.3B and US$583M respectively. @Ripple’s $XRP also saw inflows of US$11.8M as well as… pic.twitter.com/dWK8U6P0I5

Yet with only $1.26 million in inflows, Solana was actually fourth among the alts last week, behind Ethereum ($583 million), XRP ($11.8 million) and Sui ($3.5 million).

Having said that, it still accounts for more in total AUM than any altcoin other than Ethereum, at $1.39 billion (XRP is third with $1.25 billion).

This testifies to its ongoing popularity, and if we look at its chart today we see that it may be nearing a breakout.

Of particular note is its 30-day average (orange), which recently fell below the 200-day (blue), meaning that the coin is close to a bottom.

Its RSI (purple) tells a similar story, having begun rising from a low recorded earlier in the month.

Now is therefore a good time to buy Solana, given that it remains in an oversold position and looks ready to pop.

And fundamentally, Solana is one of the strongest alts in the market, with its network second overall in terms of TVL.

It’s also looking forward to a couple of updates (Alpenglow and Firedancer) later in the year that will only boost its scalability and stability, helping it grow even further.

This will help it continue to attract institutional money, with the possibility of SOL ETFs likely to boost inflows even further.

#SOL

Solana has completed a bullish flag pattern on the 12H timeframe

Price consolidation above key resistance and the MA 50 suggests a potential upward breakout

If confirmed, the price could rise toward targets at $165, $183, and $220 pic.twitter.com/Lz8OY5n1rI

Given these factors, and given the stable level of institutional interest in SOL, the Solana price is on course to reach $200 again by the middle of July, and $500 by the end of the year.

One of the reasons why Solana is such a bullish token is that it continues to boast a vibrant ecosystem of Solana-based tokens, including meme coins and more serious alts.

Possibly the most interesting addition to its ecosystem is Solaxy (SOLX), a layer-two network that has recently closed its presale, raising an incredible $53.8 million.

In 7 days, $SOLX goes live.

This is your last chance.https://t.co/22aK0SnRLD pic.twitter.com/cfw0d7ihHW

Its SOLX token will launch in just under seven days, yet investors still have one last chance to buy it below its list price, with the coin still available via the Solaxy website at $0.001766.

Solaxy has been so successful in raising funds because of its promising fundamentals, with the project about to launch a layer-two network for Solana.

It will provide Solana users with low transaction fees and fast confirmation times, helping them to avoid the delays and dropped transactions that can still impact its parent layer.

On top of this, it will be rolling out its own token launchpad and DEX, with the L2 aiming to become an important hub for trading.

As its native token, SOLX will pay for transaction fees, while holders will also be able to stake it.

As noted above, it will launch in just over six days, with latecomers able to buy some now by going to the Solaxy website.

The post Solana Price Prediction: As Wall Street Rotates Into Alts, SOL Could Lead the Next Mega Rally appeared first on Cryptonews.