Solana
Legendary crypto trader predicts Solana (SOL) breakout to $360 soon
Solana, often known as the “Ethereum killer,” has been steadily rising, defying market trends, and establish itself as a major player in the world of cryptocurrencies. It has seen an impressive rise of 732.20% this year, which has attracted significant investor interest.
Looking at Solana’s phenomenal rise, CryptoJack, a popular YouTuber and crypto trader, made some bold predictions for Solana (SOL), highlighting a notable technical pattern and predicting a price rise to $360.
Solana ready for the long haul
In a recent tweet, CryptoJack noted that Solana had formed a “round bottom” trend over several weeks, indicating a potentially explosive move shortly.
The “round bottom” pattern, a bullish technical indicator, typically signals a trend reversal from bearish to bullish sentiment. This formation is characterized by a gradual price decline followed by a rounding base formation before a potential breakout.
According to Cryptozack analysis, Solana (SOL) is now looking for a long position and expects the cryptocurrency to surpass its all-time highs (ATH) this year. Currently trading around $146CryptoJack’s price projection suggests a doubling of Solana’s value to $360.
Bullish outlook from analyst
One analyst pointed out Solana’s Bullish Outlook, citing critical support and resistance levels that reflect its strong performance. Over the past month, Solana has demonstrated positive momentum with 63% green days, indicating sustained upward movement.
Solana’s market cap has grown an impressive 10% since the start of 2024, from $9 billion to $80 billion. This substantial increase underlines the growing importance and attractiveness of Solana for investors.
Growing popularity in the success of Meme Coin
Solana has gained popularity in the cryptocurrency space, particularly for its success with meme coins. Coins memes like BONK, WIF and BOME have seen significant increases in value, contributing to Solana’s overall uptrend.
As Solana rides various waves of explosive growth, the crypto analyst predicts a wild bull run that could potentially multiply Solana’s value by thousands.