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Legendary Crypto Trader Predicts Solana (SOL) Breaking to $360 Soon
Solana, often known as the ‘Ethereum killer’, has been growing consistently, defying market trends and establishing itself as a major player in the world of cryptocurrencies. It has increased by an impressive 732.20% this year, which has attracted significant interest from investors.
Looking at Solana’s phenomenal rise, CryptoJack, a popular YouTuber and crypto trader, made bold predictions for Solana (SOL), highlighting a notable technical pattern and predicting a price rise to $360.
Solana ready for the long term
In a recent tweet, CryptoJack noted that Solana has formed a “rounded bottom” pattern over several weeks, indicating a potentially explosive move soon.
The “rounded bottom” pattern, a bullish technical indicator, typically signals a trend reversal from bearish sentiment to bullish sentiment. This formation is characterized by a gradual price decline followed by a rounding base formation before a potential breakout.
According to Cryptozack analysis, Solana (SOL) is now looking for a long position and predicts that the cryptocurrency will surpass its all-time high (ATH) this year. Currently trading around $146, CryptoJack’s price projection suggests a doubling of the value of Solana to $360.
Optimistic analyst outlook
One analyst emphasized Solana’s Bullish Outlook, citing critical support and resistance levels that reflect its strong performance. Last month, Solana demonstrated positive momentum with 63% green days, indicating sustained upward movement.
Solana’s market capitalization has increased by an impressive 10% since the start of 2024, rising from $9 billion to $80 billion. This substantial increase underlines Solana’s growing prominence and attractiveness to investors.
Rising Popularity in Meme Coin Success
Solana has gained widespread popularity in the cryptocurrency space, especially for its success with meme coins. Meme Coins such as BONK, WIF, and BOME have experienced significant increases in value, contributing to Solana’s overall uptrend.
With Solana riding multiple waves of explosive growth, crypto analyst predicts a wild ride that could potentially multiply Solana’s value by thousands.
Also check out: Solana Price Prediction 2024 – 2030: A Further Surge as SOL Targets $500!