An expert in the cryptocurrency market has expressed Bullish optimism for Solana (SOL)predicting that the cryptocurrency is currently on track to replicate ethereum's historic rise to new highs. As a result, the expert foresees SOL hits a new all-time high of $1,000 This bullish cycle.
Solana aims for $1,000
On August 12, a cryptocurrency analyst identified as 'Kaleo' on x (formerly twitter) x.com/cryptokaleo/status/1823085714856202540?s=46″ rel=”nofollow”>shared Kaleo notes that optimistic expectations for Solana’s future prospects during this bull market are: Solana Price Chart I was currently replicating a pattern previously seen in ethereum at the end of 2020.
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Comparing Solana's market movement Regarding ethereum’s performance at the time, the analyst revealed that SOL could be following a growth trajectory similar to ethereum’s past performance in the last cycle. He noted that ethereum had seen a significant price increase in 2020, eventually reaching new all-time highs.
Based on Solana’s current price movements, Kaleo predicts that the cryptocurrency could reach a reasonable target of $1,000 during the current bull market. potential price increase is based on the assumption that Solana will reflect ethereum-bulls-preparing-for-a-100-surge/” rel=”nofollow”>ethereum price action bullish in the previous cycle.
Since the beginning of the year, Solana's price performance has been remarkably bullish, with significant price increases that have He pushed it up to $200 at some point. Although the cryptocurrency has experienced its fair share of price fallsregistering a drop of over 9% over the past week. As of the latest update, the cryptocurrency’s price is trading at $143.6, marking a 0.48% increase over the past 24 hours, according to CoinMarketCap.
Given Solana's relatively strong price fundamentals Amidst market volatility, cryptocurrency analysts continue to express bullish expectations for the altcoin. A cryptocurrency analyst identified as 'crypto Jack' has x.com/cryptojack/status/1822619182938120687?s=46″ rel=”nofollow”>noted that Solana is steadily approaching critical resistance levels. He predicts that if the cryptocurrency breaks above $190, it could be ready for a Explosive rally on the rise soon.
Analysts are betting on Solana's $1,000 rise
Sharing similar bullish projections as Kaleo, a cryptocurrency analyst recognized as 'crypto Curb' on x has x.com/cryptocurb/status/1823868478975103285?s=46″ rel=”nofollow”>revealed New price targets for Solana. According to Curb's post, Solana will experience a steady price increase before hitting a new high of $1,000.
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Sharing a price chart of Solana’s movement from 2021 to 2024, the analyst revealed that SOL has been consolidating between the $120 and $210 mark for the past 170 days. During this time, the cryptocurrency was seen bouncing between monthly support and resistance levels.
Curb predicts that once Solana emerges from her ongoing consolidation phaseThe cryptocurrency is likely to see a substantial upward move. Anticipate a quick climb to the $400 to $500 range first, followed by an even bigger surge to between $800 and $1,000 or higher.
Image of Dall-E, chart from Tradingview.com
