Ali Martinez, a leading cryptocurrency analyst, says Solana is showing a positive trend. “early signs of a breakout from a bull pennant.” According to the pattern, SOL could reach $1000 by a 470% increase in market capital. Martinez’s chart suggests that SOL will reach $1000 in the late 2024 or early 2025.
Also Read: Solana ETF Hopes Drive Price as SOL Approaches $200
SOL experienced an impressive price increase over the past few days. The cryptocurrency has gained 14.4% over the chart of the week and 24.7% over that of the 14 day charts. This is a 31.3% gain over last month. Bitcoin’s (BTC), which has recently regained the $66,000 mark, could have been responsible for this latest price surge. BTC rallied after the assassination of Donald Trump which increased Trump’s odds to win the US Presidential election.
SEC approval for spot Ethereum (ETH), ETFs, to trade is another positive development. ETFs begin trading tomorrow and this could spark a rally across the market.
How high will Solana be able to go at the end of July, 2024?
CoinCodex predicts that SOL’s price will remain at current levels throughout the remainder of this month. According to the platform, SOL will hit $178.43 in July 2024. A rally of 0.8% would take the asset to $178.43 compared with current levels.
Also Read: Solana Daily Wallet Count Spikes: How High Can SOL Trade This Week?
Changelly Also, Solana is forecasted to reach $178.53 by July 31st 2024. Changelly believes that SOL won’t reach $1,000 in 2024. SOL is predicted to reach $217.92 as the maximum price this year by Changelly.
Telegaon It is bullish but doesn’t expect Solana to reach $1000 any time before 2030. SOL is predicted to reach maximum prices of $305.16 in 2024 as well as $414.68. next year.
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Source: watcher.guru