Solana
Solana (SOL) to Surge 100% – Details — TradingView News
As a growing number of experts and investors focus on the blockchain network frequently referred to as the “Ethereum killer,” cryptocurrency markets have been rife with speculation about Solana (SOL) in recent weeks.
Solana’s bullish momentum
Solana has made a strong comeback, rising 8% in the previous week alone after falling around 8% in the previous month. Along with a notable shift in market sentiment, this rebound has coincided with traders and analysts viewing Solana as a cryptocurrency poised for notable gains ahead.
For Solana, last week marked a real turning point. Clear indicators indicate that the bulls are in control, so SOL could be on the verge of a significant breakout in the coming months.
The fact that Solana has maintained a significant support level between $120 and $130 is a truly encouraging sign. Assuming that SOL maintains a daily candlestick price above $120, bulls could see a clear path for this coin to reach $200 or perhaps higher.
#SOLUSDT Still valid, bullish until daily candle holds above 120
Buying area around: 130-120
Target: 150-170-190-220-250+
#GROUND is currently testing the daily support zone of 130-120. We could see a bounce towards 180-200 and 250 (possible 100% pump from current level) pic.twitter.com/Szyp4y9ywl
The hype around Solana also extends beyond short-term price behavior. Renowned crypto strategist Crypto Cobra made headlines with a wild estimate that SOL could hit $400 by late 2024 or early 2025 — a possible 200% increase from current values.
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A promising future in perspective
There’s no reason why Solana can’t recreate these types of gains if it continues to follow the same price trends we’ve seen in the past. Crypto analyst Cobra now sees momentum that will propel the altcoin to new all-time highs in the not-too-distant future.
CoinCheckup’s price prediction suggests that Solana is set to climb 0.78% over the next seven days, reaching $140.58. In the long term, the company’s projections are much more positive: Solana could reach $219.09 over the next year, a 57% increase from current levels.
Right now, Solana’s foundations are really well aligned. Solana is quickly challenging Ethereum’s dominance with its scalability, low transaction costs, and growing ecosystem of distributed applications (dApps). And the market is starting to take notice.Solana: A Growing Blockchain Ecosystem
Solana’s ability to process transactions at extremely fast speeds and at a fraction of Ethereum’s cost is considered by analysts to be a major factor behind its recent explosive appeal. The network’s recent integration with leading DeFi protocols like Uniswap and Aave has also helped grow its user base and the confidence of cryptocurrency investors.
Many members of the crypto community are closely watching Solana’s growing dApp ecosystem and the network’s continued technological developments going forward.
Solana has been on a roll recently. Analysts say the team is constantly releasing new features and improvements, and we’re seeing more and more leading companies choosing to leverage the Solana blockchain.
Featured image from Pexels, chart from TradingView