Popular cryptocurrency analyst Peter Brandt has revealed a bullish outlook for Solana, predicting that the prominent altcoin could be poised for a significant price raise in the coming weeks. This price prediction is in stark contrast to Brandt’s recent prediction, in which the analyst expressed concerns that Solana would experience a significant price decline.

How high can Solana reach?

Earlier this week, NewsBTC reported on Brandt’s prediction that SOL would fall to $80 if the altcoin failed to defend support at around $120. It is worth noting that SOL had been in a downtrend for most of the week, trading as high as $128 on Thursday.

Although the fifth-largest cryptocurrency has turned lower in the past 48 hours, reaching a high of $151 on Friday. Peter Brandt noted this rising price action as Solana is holding the $120 price level, something the altcoin has consistently done for the past six months.

However, Brandt demands that SOL could now be targeting “significant” growth. While the expert analyst did not provide a specific price target, investors can expect significant growth as Brandt expects price action over the next 72 weeks.

Attention all crypto maniacs. It looks like SALT SOLUSD held support at $120. This could become a rectangle capable of initiating significant progress photo:twitter.com/id0eTzzsVW

— Peter Brandt (@PeterLBrandt) September 20, 2024

This period of time is expected to include a cryptocurrency bull run, for which SOL has been identified as an exceptionally high-performing asset. During the recent bull run, the altcoin emerged as the biggest market winner, surging over 1,500% to reach a record high of $260. Interestingly, in addition to long-term gains, Solana investors could also expect an immediate price raise, especially as Q4 approaches.

Given the predictions of Bitcoin entering an upward path from October, Solana, like other cryptocurrencies, is likely to be influenced by the cryptocurrency market leader, which could result in significant gains for the altcoin.

Interestingly, SOL moved around $22 to $112 in Q4 2023, recording a 400% gain, while Bitcoin rose from around $27,000 to $44,000 in the same period. If the prominent altcoin repeats its previous actions, it could rise to around $725 by December and $2,175 next year.

SOL Price Overview

At the time of writing, Solana is trading at $145.16, which represents a 2.20% gain over the past day. The token’s price reflects a steady performance over the past few weeks, with gains of 4.62% and 3.03% over the past seven and thirty days, respectively. Meanwhile, Solana’s daily trading volume is up 23.07% and is valued at $3.17 billion.