Analysts Unanimous: Solana (SOL) To Soar 100% – Details
14 July 2024 - 9:00AM
NEWSBTC
As a growing number of experts and investors focus on the
blockchain network frequently referred to as the “Ethereum killer,”
the crypto markets have been humming with conjecture over Solana
(SOL) in recent weeks. Related Reading: Analyst Upbeat On USTC,
Sees Price Soaring Over 300% Solana’s Bullish Momentum Solana has
come rushing back, increasing 8% in the previous week alone after
falling around 8% during the preceding month. Along with a notable
change in market mood, this rebound has corresponded with traders
and analysts seeing Solana as a cryptocurrency ready for notable
increases ahead. For Solana, the recent week marks an actual
turning point. Clear indicators point to the bulls in control, so
SOL might be set for a significant breakout in the next months. The
fact that Solana has maintained a significant support level between
$120 and $130 is a really encouraging sign. Assuming SOL maintains
a daily candlestick price over $120, bulls may see a clear path for
this coin to go to $200 or possibly higher. #SOLUSDT💰 Still valid,
Bullish until daily candle hold above 120📈🚀 ➡️Buying zone around :
130-120 ✅ ➡️Target : 150-170-190-220-250+ ➡️#SOL is currently
tested the daily support zone of 130-120. we might see a bounce
towards 180-200 & 250 (Possible 100% pump from current…
pic.twitter.com/Szyp4y9ywl — Crypto Cobra (@Crypto_Cobra_) July 12,
2024 The excitement around Solana goes beyond the near-term pricing
behavior as well. Renowned crypto strategist Crypto Cobra made
headlines with a wild estimate that SOL might go as high as $400 by
late 2024 or early 2025 – a possible 200% increase from present
values. Promising Future Ahead Solana has no reason it cannot
recreate those types of gains if it keeps following the same price
trends we have observed in the past. Analyst Crypto Cobra sees a
momentum now to propel the altcoin to fresh all-time highs in the
not too distant future. Price forecasts from CoinCheckup suggests
that Solana is likely to climb 0.78% during the next seven days,
landing at $140.58. Looking ahead, the company’s long-term
projection is far more positive: Solana might reach $219.09 within
the next year, a 57% rise from present levels. Right now, Solana’s
foundations line up really well. Solana is rapidly challenging
Ethereum’s supremacy with its scalability, low transaction costs,
and expanding ecosystem of distributed apps (dApps). And the market
is beginning to price it in. Solana: Growing Blockchain Ecosystem
Solana’s capacity to process transactions at extremely fast rates
and for a fraction of Ethereum’s cost is seen by analysts as a
major factor behind its recent explosive appeal. Recent integration
with prominent DeFi protocols like Uniswap and Aave by the network
has also helped increase its user base and trust among crypto
investors. Related Reading: 6,400 Ethereum Mystery Move Sparks ETH
Rally Talk Pre-ETF Nod Many in the crypto community are attentively
observing Solana’s growing ecosystem of dApps and the continuous
technological developments of the network ahead. Solana has lately
just been firing on all cylinders. Analysts claim that the team is
continuously releasing fresh features and enhancements, and we are
witnessing more and more high-profile ventures opting to leverage
the Solana blockchain. Featured image from Pexels, chart from
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