The cryptocurrency market expert expressed confident optimism for Solana (SOL)predicting that the cryptocurrency is currently on track to repeat Ethereum’s historic surge to novel highs. As a result, the expert predicts that SOL Hits Recent All-Time High of $1,000 this growth cycle.
Solana is aiming for $1,000
On August 12, the cryptocurrency analyst identified himself as “Kaleo” on X (formerly Twitter) common his confident expectations about Solana’s future during this bull market. Kaleo notes that Solana price list currently replicating the pattern previously observed in Ethereum at the end of 2020.
Comparing Solana’s market movement with what was happening with Ethereum at the time, the analyst revealed that SOL could follow a similar growth trajectory as Ethereum in the previous cycle. He noted that Ethereum experienced a significant price escalate in 2020, eventually reaching novel all-time highs.
Based on Solana’s current price movements, Kaleo predicts that the cryptocurrency could reach a reasonable target of $1,000 during the current bull run. potential price escalate is based on the assumption that Solana will reflect Ethereum price bullish move in the previous cycle.
Since the beginning of the year, Solana’s price quotations have been clearly rising, which was confirmed by significant price increases, I raised the price to $200 at some point. Although cryptocurrency has experienced its fair share of price dropsdown over 9% over the past week. As of the latest update, the cryptocurrency is trading at $143.6, up 0.48% over the past 24 hours, according to CoinMarketCap.
Given Solana’s relatively powerful price fundamentals amidst market volatility, crypto analysts continue to express bullish expectations for the altcoin. A crypto analyst identified as “Crypto Jack” has excellent that Solana is steadily approaching critical resistance levels. He predicts that if the cryptocurrency breaks above $190, it could be ready for explosive rally up Soon.
Analysts Double Down on Solana’s $1,000 Rally
Sharing similar bullish predictions with Kaleo, the cryptocurrency analyst known as “Crypto Curb” on X has revealed novel price targets for Solana. According to the Curb post, Solana is expected to experience steady price increases before reaching a novel high of $1,000.
Sharing a price chart of Solana’s movement from 2021 to 2024, the analyst revealed that SOL has been consolidating between $120 and $210 for the past 170 days. During that time, the cryptocurrency has been bouncing between monthly support and resistance levels.
Curb predicts that when Solana emerges from its ongoing consolidation phasethe cryptocurrency is likely to see a significant upward movement. He predicts a quick rise to the $400-$500 range first, followed by an even bigger escalate to the $800-$1000 range or more.
The image in the photo is from Dall-E, the chart is from Tradingview.com
