The post Can Solana Price Reach $2000? Analyst Says Breakout Will ‘Feed Generations appeared on BitcoinEthereumNews.com.

In the latest speculation around Solana price, an analyst said an upcoming breakout would “feed generations” after a signal that could send SOL to $2,000 appeared. With recent movements stirring excitement in the crypto space, traders and analysts are speculating on the potential of SOL to reach these heights.  SOL price is down 1.5% in the last 24 hours and is trading at $165. The decline is likely because Bitcoin price is experiencing selling pressure and has dropped to $66,363. Despite the drop, SOL has been up 6.7% in the past week, and price action remains in a tight, bullish parabolic chart pattern. Can Solana soar to $2,000? What’s the Probability of Solana Price Hitting $2000? The chances of the SOL price rising and hitting $2,000 are within reason. At $165, Solana is significantly lower than its previous high of $220. Analysts suggest that SOL could reach a market cap similar to Ethereum, implying a price target of around $840. So far, Solana is outperforming Ethereum. Solana price is up 51% year-to-date, while Ethereum’s price has only increased by 9.4% over the same period.  Furthermore, the SOL/ETH pair hit a new all-time high of 0.06461, meaning Solana has overtaken Ethereum. Data from DeFiLlama shows Solana TVL hit $7.472 billion, breaking a 2-year high. Another $2.47 billion and SOL will have broken its all-time high record.  These metrics indicate Solana has the capability of taking Ethereum’s place and by implication, has a high chance of surging to $840 per coin. But can it reach $2,000? Regression Band Reveals Path to $2000 SOL Price A less-commonly used indicator suggests Solana price could surge to at least $2,000, with an upside target of $4,032. The Regression Band indicator tool analyzes price trends and potential support and resistance levels using linear regression lines that…

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Filed under: News - @ October 23, 2024 8:20 pm