Solana (SOL) is on a tear, captivating the attention of analysts and investors with its impressive price rally. Over the past month, SOL skyrocketed nearly 35%, igniting market confidence and speculation of further gains. This surge comes after a critical turning point on July 5th, where SOL found strong support at $122. Since then, the price has embarked on a remarkable journey, climbing a steadely in just 30 days.
Currently, SOL is trading at $179.56, boasting a healthy 24-hour trading volume of $8.77 billion and a market capitalization of $80.70 billion. Even a modest 1.39% increase in the last 24 hours underscores the ongoing interest and trading activity surrounding this cryptocurrency.
Analyst ignites bullish flames
Renowned analyst Jelle has sent a jolt of excitement through the crypto community with a bullish prediction for SOL. With SOL seemingly on the cusp of a breakout, anticipation is palpable.
For months, traders and enthusiasts have meticulously monitored SOL’s price movement, waiting for a definitive bullish signal. According to Jelle, that wait is over. SOL is breaking free from a “re-accumulation structure,” a technical pattern often associated with significant price rallies.
Drawing parallels to SOL’s explosive 2021 bull run, Jelle forecasts a similar trajectory, potentially propelling SOL towards a staggering $500 price target in the coming months. This optimistic outlook is fueled by a potent combination of technical indicators and a bullish market sentiment, suggesting Solana is primed for significant growth.
Jelle’s confidence is contagious, rekindling memories of SOL’s past glory and igniting investor imagination. With portfolios poised for action, the cryptocurrency community eagerly awaits what could be a transformative period for Solana.
Also Read: Solana Price Prediction: Futures Volume Explodes 7.45% – Will SOL Hit $192?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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