Solana’s Price Rallies: Why SOL’s “Massive Run” Could Be a Prelude to Altcoin Season – Experts Highlight These Key Metrics
Solana’s (SOL) price surge lately has sparked speculations that an altcoin season could be on the horizon as per various analysts. Solana has experienced a substantial rally, catching the attention of notable figures in the crypto space.
According to Michaël van de Poppe (@CryptoMichNL), a top crypto analyst, Solana has seen a “massive run.” In his analysis, van de Poppe stated, “Both the Bitcoin and USDT pairs have seen higher timeframe corrections, higher timeframe retests and continuation.”
Van de Poppe believes that for altcoins, a correction ranging from 20% to 60% can be viewed as an entry point during a bull cycle. “For altcoins: 20-60% correction -> entry point in a bull cycle,” he said. Notably, Solana corrected by 35% before rallying more than 2x higher, according to van de Poppe’s assessment.
Potential Breakout from Long-term Downtrend
Besides, 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 (@el_crypto_prof), another top analyst, echoed a similar sentiment, highlighting a potential breakout for altcoins. In a tweet, he stated, “A Breakout from a descending channel that is 2.5 YEARS in the making is happening right now.” Furthermore, he noted that the MACD indicator is “about to break the zero line at the same time. When this was the case in the past, there was always an Altseason.”
According to data from CoinMarketCap, Solana’s current price stands at $197.17, reflecting a 15.60% increase in the last 24 hours. This substantial daily gain further reinforces the upward momentum Solana is experiencing.
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Show more +As the crypto markets shifts, market participants will closely monitor Solana and other altcoins for potential buying opportunities. The observations from analysts like van de Poppe and 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 suggest that an altcoin season could be on the horizon, presenting the potential for substantial gains in this volatile and rapidly changing market landscape.
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