Based

bullish

Solana

when

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Solana (SOL) appears to be forming a bullish pattern as the market awaits upward movement. Renowned crypto analyst Jelle has highlighted a breakout scenario for the coin. He&nbsp;<a href="https://x.com/CryptoJelleNL/status/1818576044523196634" rel="noopener noreferrer nofollow">tweeted</a> that Solana has broken out from the reaccumulation structure.
The analyst further explained that the SOL price is now prepared to push higher. He predicted that once Solana starts this upward movement, it will then enter a mania-like phase, and the market will witness one of the biggest rallies.
He also explained that the market will be scaling out aggressively once SOL breaks above its all-time highs (ATHs). Jelle concluded his tweet by predicting that the final target of Solana will be the $600 mark. This will indeed be a&nbsp;<a href="https://u.today/solana-to-outshine-ethereum-investors-go-bullish-on-sol" rel="noopener noreferrer nofollow">major milestone</a> for Solana.
<h2 dir="ltr" id="how-can-solana-achieve-this-target">How can Solana achieve this target?</h2>
Based on rough estimates, the SOL price will have to rally above 200% from its current levels to claim the $600 price target. While it may seem a daunting task, historic patterns suggest that it can be achieved. For instance, the Solana price has rallied around 642.79% in the past year, according to CoinMarketCap&nbsp;<a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">data</a>.
Consequently, a 200% price rally does not seem a far-fetched idea, and it is likely to be achieved in the future. Meanwhile, Solana is currently trading at $182.04, after an increase of 0.83% in the last 24 hours. The price has rallied 29.16% to achieve the current levels over the last 30 days.
These&nbsp;<a href="https://u.today/major-solana-sol-price-moves-incoming-heres-why-it-might-happen" rel="noopener noreferrer nofollow">price movements</a> suggest that SOL has remained in a bullish trend, and despite the ongoing volatility in the market, it has managed to sustain it. Since it has broken out from the reaccumulation phase, as revealed by Jelle, it is likely that Solana is heading toward higher levels.
While Jelle’s Solana price prediction may sound outlandish, all these figures really support this narrative. It may take some time, but it is likely that the SOL price is now eyeing a new all-time high. Only time will reveal when and how it is going to happen.

Solana (SOL) Eyes $600 Price Target, Here's Why

Съдържание

U_Today

Други статии, публикувани на 31.07.2024 г.

Worldcoin Floats its World ID Orb Verification in Austria

XRP Skyrockets 8% to Print Best Month of Year

Experts highlighted 5 altcoins poised for 1000x surge in 2024

SEC Gives Up Fight Against $SOL $ADA & $MATIC!🚨Fed Meeting Today

Dompet Whale yang Tertidur 12 Tahun Bangkit dan Pindahkan 1.000 BTC, Pertanda Apa?

Wisconsin launches public tracker to fight crypto scams

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!