Solana, often known as the ‘Ethereum killer,’ has been consistently rising, defying market trends, and establishing itself as a major player in the cryptocurrency world. It has surged an impressive 732.20% this year, which has attracted significant investor interest.
Looking at Solana’s phenomenal surge CryptoJack, a popular YouTuber and crypto trader, has made bold predictions for Solana (SOL), highlighting a notable technical pattern and forecasting a price surge to $360.
Related articles
Solana Ready For Long Run
In a recent tweet, CryptoJack noted that Solana has formed a “rounding bottom” pattern over several weeks, indicating a potentially explosive move shortly.
The “rounding 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 rounded base formation before a potential breakout.
As per the Cryptozack analysis, Solana (SOL) is now looking for a long position and anticipates the cryptocurrency to surpass its all-time highs (ATH) this year. Currently trading around $146, CryptoJack’s price projection suggests a doubling in value for Solana to $360.
Analyst’s Bullish Outlook
An analyst has emphasized 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 capitalization has surged impressively by 10% since the start of 2024, soaring from $9 billion to $80 billion. This substantial increase underscores Solana’s growing prominence and attractiveness to investors.
Rising Popularity In Meme Coin Success
Solana has gained widespread popularity within the cryptocurrency space, particularly for its success with meme coins. Memes coins like BONK, WIF, and BOME have experienced significant value surges, contributing to Solana’s overall bullish trend.
With Solana riding various waves of explosive growth, the crypto analyst predicts an incoming wild bull run that could potentially multiply Solana’s value by thousands.
Risk Disclaimer
Although Sponsored Trading can be profitable, it is associated with a significant risk of losing your investment. The risks will increase when trading on margin companies. Traders must exercise due diligence and be careful when making their trading decisions. It is the sole responsibility of the Trader to learn and acquire the knowledge and experience required to use the Trading Platform and anything that will be required to trade properly.
