Solana Set to Repeat History with 7X Rally to $1,432 in Four Months
The post Solana Set to Repeat History with 7X Rally to $1,432 in Four Months appeared on BitcoinEthereumNews.com.
Prominent analyst Ali Martinez forecasts a resurgence of history in which Solana could rally by over 700% within the next four months to $1,432. Solana (SOL) has rebounded notably from the brief Bitcoin-led retracement, now posting a gain of over 6.5% today to trade at $180. At this price, SOL delivers an over 30% return for investors who acquired the asset a month ago. This impressive performance has attracted the attention of prominent market observer Ali Martinez to explore Solana’s likely future trajectory. Taking to X, Martinez revealed that Solana’s current chart patterns are giving vibes of the 2021 bull season. Solana Eyes $1,431 with Likely Historical Resurgence Specifically, Martinez pointed out a symmetry between Solana’s current candlesticks and those of the consolidation phase leading up to July 2021, when the trend shifted. Notably, when the Solana downtrend recalibrated in July 2021, the asset traded at an average of $30. From then on, Solana engineered an up-only trend, reaching a high of $214 by September 9, 2021. This marks an impressive growth of 616% within two months. The token encountered a brief retracement afterward but resumed the uptrend shortly after. Ultimately, Solana set an all-time high of $260 in November that year. Essentially, Solana experienced an over 7X surge within four months, from July to November. As Martinez observes a similar trend currently emerging with Solana, he proposes a seven-fold price growth that would add $1,212 to SOL’s value. Notably, this projection potentially puts Solana above $1,432. Accordingly, the analyst declared that a $1,000 Solana is on the horizon, likely by November, based on historical observation. #Solana is looking a lot like July 2021… $1,000 $SOL coming soon! pic.twitter.com/J0Yx5npfiS — Ali (@ali_charts) July 26, 2024 Can Solana Surpass $1,000 this Season? Reacting to Martinez’s bullish sentiment, an X user suggested…
Filed under: News - @ July 27, 2024 2:28 am