Crypto analysts have compared Solana’s price behavior to its performance in July 2021, anticipating a possible jump.
This prediction comes from two crypto analysts, Ali Charts and Mister Crypto, who revealed their thoughts on X. Their analyses are based on technical patterns and previous price movements.
As we reported earlier today, Solana’s price pump today propelled SOL above BNB in terms of market cap.
What you'll learn 👉
Solana Price Prediction
Ali’s analysis compares Solana’s current chart to its July 2021 performance. The analyst identified a triangular consolidation pattern in both periods. In 2021, this pattern preceded a 717.17% price increase, propelling Solana to $227.15.
Ali suggests that the current breakout could mirror this past momentum, potentially driving Solana’s price to $1,000.
The comparison highlights several key factors. First, the triangular patterns in both charts indicate a period of consolidation followed by a breakout. Historically, such patterns often signal a continuation of the previous trend.
Additionally, the RSI in both instances surged above 60, indicating strong bullish momentum.
Ali’s chart projects a 717.28% gain from the current breakout point. This projection aligns with standard technical analysis practices, where the height of the triangle is added to the breakout point to determine potential targets. The alignment between the current chart and the 2021 pattern reinforces Ali’s bullish outlook.
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Expert Echoes Similar Bullish SOL Prediction
Mister Crypto echoes this sentiment in a separate tweet. The analyst states, “$SOL is cheap now. $1,000 is inevitable. Don’t get fooled now.” This concise message highlights the belief that Solana’s current price represents a buying opportunity before a significant price increase.
The technical analysis presented by Ali and Mister Crypto suggests a potential rise to $1,000 for Solana. The coming weeks and months will reveal whether Solana’s price action continues to follow the pattern observed in 2021 or takes a different path.
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