The post Here’s when Solana will reach $620, according to analyst appeared on BitcoinEthereumNews.com.

Solana (SOL) could be poised to climb as high as $620 in the coming months, according to a trading analyst who also sees the potential for the DeFi asset to rally all the way to $1,000. This bullish outlook comes as SOL recovers from a dip on June 6, when it touched the weekly low of $141. As of press time, the token was trading at $149.52, down 1.5% over the past 24 hours. SOL one-week price chart. Source: Finbold Solana is facing short-term bearish pressure, with the price lingering below the 50-day simple moving average (SMA) of $161 and the 200-day SMA at $164.19. A decisive break above the 200-day SMA could confirm a trend reversal and ignite renewed bullish momentum. The 14-day relative strength index (RSI) is 40.14, indicating mild bearish pressure without entering oversold territory. SOL’s path to $620 From a technical standpoint, analyst Master Ananda shared a TradingView post on June 6 outlining a potential path for SOL to reach $620, with a minimum target of $420 and an extended high of $1,020.  After a roughly 24% correction from $188 to $141, Ananda believes the pullback phase may be over. In this case, the cryptocurrency is developing a higher low pattern, which suggests the start of a new upward trend. SOL price analysis chart. Source: TradingView Meanwhile, key Fibonacci extension levels support this projection: $420 at the 1.618 level, $620 at the 2.618 level, and $1,021 at the 4.618 level.  According to the forecast, the digital asset could hit the $620 mark by January 2026, a 316% increase from its current price. If this target is reached, Solana’s market cap could balloon to approximately $325 billion, potentially ranking it second behind Bitcoin (BTC), assuming minimal growth from Ethereum (ETH) during the same period. Finally, the trading…

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Filed under: News - @ June 8, 2025 5:19 pm