Can Solana (SOL) Soar 10x in this Bull Run as the JetBolt (JBOLT) Hype Intensifies?

Solana (SOL) has had rough days after the meme coin mania that fueled its rally toward reaching a new all-time high of $293.31 on January 19th

Solana (SOL) price has been fluctuating since hitting a new all-time high (ATH) of $293.31 on January 19th. After a few days of decline, SOL mildly recovered, rising 3.6% in the last 24 hours.

The price of Solana (SOL) has risen slightly in the last 24 hours, currently trading at $238.04 at the time of writing. The 24-hour trading volume for SOL is over $4.6 billion. However, the coin is still down 11.3% from its ATH.

Solana price 7-day chart, showing previous days of decline. Source: CoinGecko

As Solana attempts to recover and eyes a 10x surge this bull run, several factors could contribute to its price movement.

Solana (SOL) price analysis: Could it 10x in this bull run?

According to market insiders, Solana seems to be hitting a bottom, with buyers stepping in to defend critical technical levels. Analyst Jelle on X noted that Solana has successfully retested the 25-day EMA and the RSI midlevel, both of which usually indicate strong support during bullish trends.

Solana price now seems to be preparing for another breakout. After hitting $239 on Monday, SOL encountered resistance and began to consolidate. However, as Jelle points out, "resistance is resistance" until a clear breakout occurs.

Solana price has been consolidating between $225 and $239 recently, with no clear trend yet.

Another round of approval for a Solana ETF, which some project could come as early as March 2025, may also contribute to Solana's price movement.

For Solana to "look great again," according to Jelle, SOL needs to reclaim the $240 level. However, he adds that "resistance is resistance" until a clear breakout happens.

Solana price 1-hour chart, showing EMA lines and support levels. Source: Jelle on X

Other analysts suggest that SOL needs to break above $240 and $260, two key resistance levels that have limited its upward movement in recent days.

SOL’s EMA lines are closely packed, indicating indecision, but a golden cross might be forming soon. If this crossover happens, Solana could gain momentum and aim for the $272 resistance. A successful breakout above this level could lead to a rally towards $300.

Meanwhile, a new player is shaking up the altcoin market: JetBolt (JBOLT). Boasting zero-gas tokens, an AI utility, and other innovative Web3 features, this dynamic altcoin has astoundingly surpassed 300 million tokens sold in its presale.

So, what’s fueling the intensifying hype around JetBolt? Let’s find out while uncovering Solana’s path toward hitting 10x this bull run.

Solana (SOL) price had rough days after meme coin mania, but now eyes 10x

Solana (SOL) has had rough days after the meme coin mania that fueled its rally toward reaching a new all-time high of $293.31 on January 19th. Seemingly on the rebound, SOL has risen 3.7% in the last 24 hours, resting at $238.04 as of writing, with a trading volume of over $4.6 billion.

Solana price 7-day chart, showing previous days of decline courtesy of CoinGecko

Accordingly, market insiders seem divided on whether Solana has hit its bottom or if another pullback is coming. However, early signs indicate that buyers are stepping in to defend important technical levels.

Analyst Jelle on X noted that Solana has successfully retested the 25-day EMA and the RSI midlevel, both of which typically indicate strong support during bullish trends.

Solana maxis are raising optimism as Coinbase Derivatives, a subsidiary of the U.S. crypto exchange, has submitted a filing to introduce new futures contracts for Solana.

Earlier, it was rumored that Chicago Mercantile Exchange (CME) would also launch Solana futures contracts together with XRP. Given CME’s track record of legitimizing institutional access to cryptocurrencies, any confirmation of Solana’s futures could serve as a catalyst for price growth, possibly driving SOL closer to its all-time high.

The highly anticipated approval of a Solana ETF, which some analysts project could come by as early as March 2025, may also contribute to Solana's price movement.

Analyst Jelle emphasized that for Solana to "look great again", SOL needs to reclaim the $240 level. However, he cautioned that "resistance is resistance" until a clear breakout happens. Solana's price has been consolidating between $225