Even though Solana is down from its notable performance in early 2024, analysts are predicting that the upside is not yet over for SOL.
Analysts have shared their predictions for Solana, stating how high SOL can go despite the current bearish sentiment.
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Solana’s Remarkable Ascent and Future Projections
Cryptocurrency analyst JAVON MARKS has highlighted Solana’s performance, noting that SOL has already achieved a near 10X price increase, climbing from $21.141 to over $210. This represents nearly 900% gain, bringing the token close to MARKS’ initial target of $233.719.
However, the analyst’s projections extend far beyond this milestone. MARKS suggests that Solana could be preparing for an even more major move:
- The next major target is set at $681+, which would represent a 4.8X increase from current levels or approximately 372% gains.
- This target, once viewed as an ambitious 30X or 3,000% move from lower levels, now appears more attainable.
- MARKS hints at the possibility of even greater gains beyond the $681 target.
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Show more +Technical Analysis Reveals Mixed Signals
According to an analysis by altFINS, the short-term and medium-term trends are down. However, the long-term trend is neutral. Despite these mixed trends, SOL’s price stays above the 200-day moving average, supporting the long-term uptrend.
Source: altFINS – Start using it today
A pullback near the $125-$135 support zone could offer an attractive entry point for swing traders, with a potential 20% upside to $160. However, it is important to manage risks in volatile markets, with a suggested stop-loss level set at $115.
The analysis also points to a “Pullback in Uptrend” pattern, suggesting that the current dip could be a buying opportunity for traders looking to enter or add to positions.
Read more: Jasmy Coin Price Predicted to Surge 10,000% Despite Bearish Crypto Market Sentiment
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