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Solana (Sunday)It recently triggered a buy signal, suggesting that now could be a great time to accumulate the altcoin. This development comes as cryptocurrency analysts, including Ali MartinezSolana prices are expected to rise significantly.
Solana flashes buy signal
Ali Martinez Revealed on X (formerly Twitter) mail The crypto analyst noted that the TD sequence showed a buy signal on Solana’s daily chart, suggesting that the altcoin could bounce from the lower bound of the parallel channel towards the middle or upper bound. The crypto analyst noted that the altcoin has been consolidating within this channel since April earlier this year.
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Martinez also provided insights on how Solana Solana price could surge if this bounce occurs, revealing that the middle and upper limits lie at $154 and $187, respectively. Martinez has been bullish on Solana, having previously predicted that Solana could reach $1,000 in This bull is running.
Meanwhile, Martinez warned that seeing Solana make a sustained close below the channel’s lower bound at $126 could invalidate this trading setup and lead to a major price correction for the altcoin, sending it down to $126. Less than $110 Or even $90.
Martinez is not the only analyst who has predicted that SOL will enjoy a price recovery and rally soon enough. Cryptocurrency Analyst the moon Also recently Proposed The altcoin is expected to surge to $155, depending on how things develop. The crypto analyst noted that Solana is trading inside a descending triangle, which he highlighted in the accompanying chart.
Accordingly, he stated that $155 is a potential target for the altcoin. However, Solana may also experience further downside pressure and drop to $112.5. However, a drop to this price level provides an opportunity for investors to accumulate more Solana at such low levels, especially with the altcoin likely to reach $155. New All Time High (ATH) At some point in this market cycle.
SOL stock price may drop to $80
Cryptocurrency Analyst Crypto Kalio Solana has given a more pessimistic outlook, Prediction The altcoin could drop to $80 before hitting its all-time high. Solana last fell into the $80 range in January earlier this year, before hitting $80 later this year. rose above $100a support level it has held ever since. The accompanying chart, shared by the crypto analyst, shows that Solana could rally to $375 after this corrective move.
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Cryptocurrency analyst Unknown Trader had to make A similar prediction is made for Crypto Kaleo, which highlights $77 to $83 as ideal areas to place spot bids on. SolanaHowever, while Crypto Kaleo believes that SOL’s drop to the $80 range will happen sometime between now and October, the accompanying chart by Unknown Trader showed that price correction That won’t happen until next year.
At the time of writing, Solana is trading at around $127, down about 1% in the last 24 hours, according to Data From CoinMarketCap.
Featured image created with Adobe Stock, chart from Tradingview.com
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