Solana Price Prediction: Active Users Signal Big SOL Move

Solana (SOL) has been trading within a narrow range recently, but it has managed to hold steady above the $100 level despite concerns about inflation and potential interest rate hikes. The increase in daily active users (DAUs) on the Solana network, following new rules announced by the U.S. Securities and Exchange Commission (SEC), suggests that users may be positioning themselves for a significant price movement.

Historically, when the 30-day and 50-day moving averages crossed for this metric, SOL's price experienced notable fluctuations, usually in favor of the bulls. The current bullish trend, following a breakout above the 200-day exponential moving average (EMA), suggests that the next move could also be favorable for the token. However, the Federal Reserve's interest rate decision could bring uncertainty, potentially leading to a decline if the comments from the central bank's head are more hawkish than expected.

On the daily chart, SOL is trading above $100, with strong buying pressure indicating accumulating interest from late buyers. A drop to $90 could precede a resumption of the uptrend, particularly if liquidity tightens. The short-term target for SOL is set at $120, indicating a 20% upside potential based on today's price.