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Solana Is Getting Ready To Hit $603, Analyst Shares Multiple Targets That SOL Should Break

Vignesh Karunanidhi

January 10, 2024

Crypto analyst Javon Marks this week presented an ambitious long-term price target for Solana near $600, citing historical instances of SOL exponentially exceeding upside projections:

Javon Marks suggests that SOL (Solana) may be poised for prices surpassing $603. The recent movement in Solana’s prices indicates a close to 45% increase, approaching the initial target of $233.719.

Marks speculates that Solana could be gearing up for another substantial surge of approximately 126% to reach this target, highlighting the potential for an ongoing massive run beyond this point.

Zooming into the price action, research group altFINS spots Solana pulling back into a bull flag continuation pattern after seeing vertical advancement off the recent breakout.

This temporary consolidation sets the stage for bullish resumption up towards the next target at $125 once resolved to the upside. Initial support was held at $80. Stop losses around $75 on a closing basis for swing traders playing the range.

They further describe bull flags as highly reliable for re-entering existing uptrends amid counter-trend bouts of profit-taking. The pattern typically pauses over short time frames before stretching considerably higher.

And with Solana trending upwards across broader timeframes, odds favor an upside resolution and continuation of its powerful rally, according to historically observed behavior. The measured move out of SOL’s flag nears $125, but Javon sees potential for much greater exponential upside if bulls maintain control.

In summary, both short- and long-term timeframe analysis indicates lingering breakout potential for Solana as it continues consolidating recent gains, making the strong risk/reward bull case.

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