Renowned Crypto Trader Anticipates Solana (SOL) to Imminently Surge to $360
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Key Takeaways
CryptoJack, a renowned crypto trader, predicts a substantial price surge for Solana, with a target price of $360 in the near future.
The “rounding bottom” pattern observed in Solana indicates an imminent explosive move, as noted by CryptoJack.
Solana’s bullish trend has been strengthened by the popularity of meme coins like BONK, WIF, and BOME.
Solana, often referred to as the ‘Ethereum killer,’ has consistently defied market trends and emerged as a major player in the world of cryptocurrencies. Its impressive growth of 732.20% this year has caught the attention of many investors.
CryptoJack, a popular YouTuber and crypto trader, has made bold predictions for Solana (SOL) based on its remarkable surge. He highlights a significant technical pattern and forecasts a price surge to $360.
Solana Poised for Long-Term Success
In a recent tweet, CryptoJack pointed out that Solana has formed a “rounding bottom” pattern over several weeks, indicating a potential explosive move in the near future.
The “rounding bottom” pattern, a bullish technical indicator, typically signifies a shift from bearish to bullish sentiment. It is characterized by a gradual price decline followed by a rounded base formation before a potential breakout.
Solana has formed a rounding bottom pattern over the course of several weeks and is on the verge of an explosive move. I have entered a long position on $SOL and expect it to surpass its all-time highs this year! #Solana pic.twitter.com/ApUazaXXz5
— CryptoJack (@cryptojack) May 8, 2024
According to CryptoJack’s analysis, Solana (SOL) is currently seeking a long position and anticipates the cryptocurrency to exceed its all-time highs (ATH) this year. With the current trading price at around $146, CryptoJack’s price projection suggests a potential doubling in value for Solana, reaching $360.
Bullish Outlook from Analysts
An analyst has highlighted Solana’s bullish outlook by pointing out critical support and resistance levels that reflect its strong performance. Over the past month, Solana has shown positive momentum with 63% green days, indicating a sustained upward movement.
Solana’s market capitalization has impressively surged by 10% since the beginning of 2024, rising from $9 billion to $80 billion. This significant increase underscores Solana’s growing prominence and attractiveness to investors.
Rising Popularity with Meme Coin Success
Solana has gained widespread popularity in the cryptocurrency space, particularly due to its success with meme coins. Meme coins like BONK, WIF, and BOME have experienced substantial value surges, contributing to Solana’s overall bullish trend.
With Solana riding various waves of explosive growth, the crypto analyst predicts an upcoming wild bull run that could potentially multiply Solana’s value by thousands.