The post Solana eyes $1,000 this cycle as an ‘easy target’ appeared on BitcoinEthereumNews.com.

Although Solana (SOL), much like the larger part of the cryptocurrency market, has been underperforming in recent days, there’s a chance its price could skyrocket to $1,000 (and beyond) in a matter of months, as a renowned crypto analyst has observed. Indeed, $1,000 looks like an “easy target” for Solana in this cycle, taking into account the current “cup with handle” chart pattern, indicating a bullish continuation, observed by the popular pseudonymous crypto trading expert Trader Tardigrade in an X post on June 13. Solana price action analysis. Source: Trader Tardigrade Specifically, the crypto sector expert’s analysis suggests that the currently fifth-largest asset in the cryptoverse by market capitalization could begin its upward movement in late summer this year and then reach and surpass the impressive $1,000 price target sometime in late 2025. Solana price analysis For now, Solana is changing hands at the price of $148.17, which represents a decline of 1.97% in the last 24 hours, a 13.95% drop across the previous seven days while still holding onto the accumulated 2.18% advance on its monthly chart, as per the most recent data on June 14. Solana price 30-day chart. Source: Finbold Meanwhile, it is also worth noting that another famous crypto specialist, Ali Martinez, is bullish on Solana’s future performance, recently identifying a triangle formation that draws key support at $143 in an uptrend line while facing resistance at $178 as a downtrend level that could break out soon. Considering this chart pattern, a bullish bias toward a resistance breakout, and the overall positive sentiment favoring altcoins, Martinez shared a Solana price prediction that sees the price of this crypto asset surging a whopping 53%, as Finbold reported on June 12. All things considered, Solana could be looking at a massive price increase, which means now would be…

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Filed under: News - @ June 14, 2024 10:18 am