Cryptocurrency Analyst Ali Martinez He identified similarities between the current price action of Solana and Price hike in 2021Based on his analysis, Solana (SOL) stock could surge above $1,000 if it reverses its move from 2021.
Solana stock price could rise to $1,400
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Martinez expected that Solana Solana stock price could surge to $1,400, revealing that Solana is looking “like July 2021.” July 2021 was the month that Solana began its parabolic run in the last market cycle, moving from around $30 to $1,400. All time high now (ATH) is worth $260 in November 2021.
Based on the chart shared by Martinez, Solana has once again reached a breakout point where it could enjoy a massive rally and surge more than 700% to $1,400. Interestingly, the analyst expects SOL to reach this level. Target price By November. However, it should be noted that SOL did not enjoy its equivalent rise in 2021 until the following year after Half event In that market cycle.
As such, Solana may not enjoy such a rally until the latter parts of this rally. Whatever happens, Martinez is confident that Solana will rise above $1,000. Before now, it was expected to rise to $1,000. advertiser Early signs of a bull flag breakout point to a potential 900% upside for Solana as it climbs above $1,000.
Recently, the analyst also pointed to a CoinGecko poll, which revealed that only 10.6% believe Solana could rise above $1,000. Based on his prediction, Martinez said: mentioned He would bet his heart out that Solana would achieve this feat.
There is no doubt that Solana has a bullish outlook, and it is no surprise that analysts like Martinez are confident that the token can reach such heights. SOL has continued to make its mark on this rally and even BNB was recently sold. To become the fourth largest cryptocurrency by market cap.
It is worth noting that Solana is currently outperforming Bitcoin and Ethereum in this market cycle, and crypto analysts like Borovik have pointed out that Starch Probability of SOL flipping for ETH.
Solana Short Term Price Target
Cryptocurrency Analyst Rekt Capital Solana recently indicated that the price of a barrel of oil could rise to $202 soon. This comes after his earlier statements. Final analysiswhere he noted that SOL appears to have successfully retested the $180 support level. He added that Solana Gold will be able to revisit the $202 resistance level over time if it can continue to hold the $180 level as its new support.
Rect Capital previously mentioned A successful retest of the $180 price level as new support for Solana could enable Continuing the upward trendAccordingly, Solana may retest the $202 resistance level and even enjoy a successful breakout from this range, which could put an all-time high on the horizon.
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At the time of writing, Solana is trading at around $184, up over 4% in the last 24 hours, according to Data From CoinMarketCap.
Featured image from Reddit, chart from TradingView
