Ethereum

Solana

2024

Bull Flag

Rise

<a href="https://www.newsbtc.com/news/solana/solana-headed-to-100/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL</a>) could well be on course to <a href="https://www.newsbtc.com/news/solana/solana-2024-roadmap-key-price-targets/" target="_blank" rel="noopener noreferrer nofollow">continue its remarkable run</a> from 2023, going by a recent analysis by <a href="https://bitcoinist.com/crypto-capital-inflow-2-years/" target="_blank" rel="noopener noreferrer nofollow">crypto analyst Ali Martinez</a>. The analyst laid out a certain condition that could see SOL rise to <a href="https://www.newsbtc.com/analysis/sol-price-surges-10-solana-aim-125/" target="_blank" rel="noopener noreferrer nofollow">as high as $150</a> soon enough.&nbsp;
<h2 id="b-how-solana-could-rise-to-150-b">How Solana Could Rise To $150</h2>
Martinez noted in an X (formerly Twitter) <a href="https://x.com/ali_charts/status/1745427405156516075?s=20" target="_blank" rel="noopener noreferrer nofollow">post</a> that Solana was breaking out from <a href="https://www.newsbtc.com/analysis/xrp/xrp-bull-run-bull-flag-formed/#:~:text=XRP%20Bull%20Run%20Confirmed%3A%20Largest%20Bull%20Flag%20In%20Crypto%20History%20Just%20Formed,-by%20Scott%20Matherson&amp;text=XRP%20could%20well%20be%20on,this%20is%20on%20the%20horizon." target="_blank" rel="noopener noreferrer nofollow">a bull flag</a> that had developed on the 4-hour chart that he shared. According to him, the crypto token could rally towards the $150 to $165 price range if there was a sustained close above $106. However, that hasn’t been the case as SOL has declined to price levels far from that since then.&nbsp;
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Solana</a> is breaking out from a bull flag that developed on the 4-hour chart. A sustained close above $106 can trigger a 47% rally that pushes <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> toward the $150 – $165 price range. <a href="https://t.co/VmbA9L4QuL" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/VmbA9L4QuL</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1745427405156516075?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 11, 2024</a>
</blockquote>
At the moment, SOL looks to be moving with the tide in the broader crypto market, which has been on a decline since the <a href="https://bitcoinist.com/breaking-spot-bitcoin-etfs-approved-by-us-sec/" target="_blank" rel="noopener noreferrer nofollow">approval of the Spot Bitcoin ETFs</a>. This decline is believed to be a result of Bitcoin being priced in before the approval order came in. As such, traders may be looking to <a href="https://bitcoinist.com/spot-bitcoin-etf-approval-sell-the-news-event/" target="_blank" rel="noopener noreferrer nofollow">take profits</a> from the flagship crypto token and altcoins like SOL which they may have been invested in.&nbsp;
Despite this occurrence, the <a href="https://www.newsbtc.com/news/solana/solana-2024-roadmap-key-price-targets/" target="_blank" rel="noopener noreferrer nofollow">general outlook</a> on SOL looks bullish as there is the possibility that the crypto token could once again hit its all-time high of $260 this year. This looks more feasible, considering that the next bull run has been <a href="https://bitcoinist.com/crypto-leaders-bitcoin-at-100000-by-2024/" target="_blank" rel="noopener noreferrer nofollow">predicted</a> to begin this year, possibly after the Bitcoin Halving.
In the meantime, SOL’s investors might see the current dip as an opportunity to load up on more of the tokens, especially considering that it is currently trading below the psychological price level of $100.&nbsp;
<h2 id="b-eth-could-usher-in-the-altcoin-season-b">ETH Could Usher In The Altcoin Season</h2>
<a href="https://bitcoinist.com/analyst-dogecoin-chart-beautiful/" target="_blank" rel="noopener noreferrer nofollow">Crypto analyst Jaydee</a> recently <a href="https://x.com/jaydee_757/status/1745842918836130038?s=20" target="_blank" rel="noopener noreferrer nofollow">hinted</a> that ETH could usher in the Altcoin season. This is known to be when other crypto tokens begin to outperform Bitcoin. Analyzing the <a href="https://www.newsbtc.com/news/ethereum/bullish-predictions-for-ethereum/#:~:text=Crypto%20Expert%20Anthony%20Sassano%20has,high%20(ATH)%20this%20year." target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> to Bitcoin price chart, the analyst noted that the “real altcoin season” begins when the Relative Strength Index (RSI) breaks above the 20 level.&nbsp;
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ETH</a>/BTC – While “Dumb Money” bashes on <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a>, “Smart Money” is planning <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ETH</a> SEASON right before the REAL ALTSEASON starts!
 ALTSEASON: 1. SRSI 20 LEVEL BREAKS! 2. RSI break out! (confirmed!)
 If orange box get hit, I’m BUYING HEAVILY into alts! Retweet/Like for updates!… <a href="https://t.co/4gkDVUdHha" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/4gkDVUdHha</a>
 — JD <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1f5-1f1ed.png" alt="🇵🇭" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@jaydee_757) <a href="https://twitter.com/jaydee_757/status/1745842918836130038?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 12, 2024</a>
</blockquote>
His theory about Ethereum ushering in the altcoin season is also backed by recent sentiments in the crypto market. All attention looks to be <a href="https://www.newsbtc.com/news/ethereum/bullish-predictions-for-ethereum/#:~:text=Crypto%20Expert%20Anthony%20Sassano%20has,high%20(ATH)%20this%20year.'" target="_blank" rel="noopener noreferrer nofollow">turning to Ethereum </a>in anticipation of a potential approval of the Ethereum Spot ETFs. Market intelligence platform Santiment <a href="https://x.com/santimentfeed/status/1746069577610690923?s=20" target="_blank" rel="noopener noreferrer nofollow">recently noted</a> how traders are particularly bullish about Ethereum.&nbsp;
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> As the weekend has kicked off, sentiment toward top cap assets remain at extremely optimistic levels with spotlights on them following the <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#ETF</a> approvals. Traders are particularly <a href="https://twitter.com/hashtag/bullish?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#bullish</a> toward <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> after its market value climbed above $2,700 for the first
 (Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/JxitOuX6Ww" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/JxitOuX6Ww</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1746069577610690923?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 13, 2024</a>
</blockquote>
With this in mind, ETH could begin to post <a href="https://www.newsbtc.com/news/ethereum/bullish-predictions-for-ethereum/#:~:text=Crypto%20Expert%20Anthony%20Sassano%20has,high%20(ATH)%20this%20year." target="_blank" rel="noopener noreferrer nofollow">significant gains against Bitcoin</a> in the coming weeks, setting the tone for other altcoins. ETH already showed huge strength post the Spot Bitcoin ETF approval as it rallied to $2,700, the first time it has attained this level since May 2022.&nbsp;
Featured image from iStock

Solana Is Not Done: Analyst Identifies Bull Flag That Will Trigger Massive Rally Above $150

Table of Contents

NewsBTC

Other articles published on Jan 13, 2024

The Top 5 Bitcasino Alternatives To Consider In 2024

India’s Regulatory Pressure Leads to Decline in Binance’s Local Operations

Influx of Institutional Funds into Bitcoin and Altcoins

Kaspa Crypto (KAS) Erased Its Weekly Profits: Will It Slump More?

ETH ETF Next? Seasoned VC Vance Spencer Shares His Views

CyberConnect Token Dynamics: Unlocking Event and Market Impact

Join our free newsletter for daily crypto updates!