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<ul>
 <li>Solana (SOL) poised for 100% growth due to technical patterns.</li>
 <li>Active user base surges, driven by meme coin frenzy.</li>
 <li>Ethereum parallels suggest SOL’s trajectory.</li>
</ul>
<p>SOL, the native coin of the Solana blockchain, a platform popular for high-speed transactions and low fees, is poised for a meteoric rise. Analysts have been closely monitoring <a href="https://cryptonewsland.com/solanas-ascent-record-breaking-milestones-and-a-1000-surge-whats-next-for-this-blockchain/" rel="noopener noreferrer nofollow">SOL’s </a><a href="https://cryptonewsland.com/solanas-ascent-record-breaking-milestones-and-a-1000-surge-whats-next-for-this-blockchain/" target="_blank" rel="noopener noreferrer nofollow">trajectory</a>, and their predictions are nothing short of bullish.</p>
<p>At the heart of this optimism lies a technical pattern visible on Solana’s 8-hour chart: the <a href="https://www.centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge" rel="noopener noreferrer nofollow">descending </a><a href="https://www.centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge" target="_blank" rel="noopener noreferrer nofollow">broadening</a><a href="https://www.centralcharts.com/en/gm/1-learn/7-technical-analysis/27-chart-patterns/504-descending-broadening-wedge" rel="noopener noreferrer nofollow"> wedge</a> formation. This pattern suggests that SOL is coiling up for a potential breakout. If an upside move occurs, brace yourself for a significant bullish wave.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> Update: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Telegram channel <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/D6adSbGP81" rel="noopener noreferrer nofollow">https://t.co/D6adSbGP81</a><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;">A Descending Broadening Wedge formation is visible on the 8-hour timeframe. If an upside breakout occurs, expect a significant bullish wave .<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/SOLUSDT?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SOLUSDT</a> <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SOL</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://twitter.com/hashtag/Solanaseason?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solanaseason</a> <a href="https://twitter.com/hashtag/solanaETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#solanaETF</a> <a href="https://t.co/z0wQT4Qt9D" rel="noopener noreferrer nofollow">pic.twitter.com/z0wQT4Qt9D</a></p>— CryptoBreakout_trade (@breakout_expert) <a href="https://twitter.com/breakout_expert/status/1812356272907288741?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 14, 2024</a>
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<h2 class="wp-block-heading" id="h-ethereum-parallels-and-raoul-pal-s-insights">Ethereum Parallels and Raoul Pal’s Insights</h2>
<p>Analysts draw parallels between Solana’s current price action and Ethereum’s historic bull run in 2018. <a href="https://twitter.com/raoulgmi?lang=en" target="_blank" rel="noopener noreferrer nofollow">Raoul Pal</a>, a prominent investor, has been vocal about SOL’s potential.&nbsp;</p>
<p>He points out that the charts of Solana and Ethereum during their respective lows exhibit striking similarities. Ethereum surged 47X from its 2018 bottom, and Solana seems to be following a similar trajectory.</p>
<p>The key differentiator? Solana’s closed system, which fosters community loyalty. Unlike Ethereum, Solana offers cheaper gas fees, making it an attractive choice for developers and users alike.&nbsp;</p>
<p>The Solana community’s resilience and unwavering support have been instrumental in its success. <a href="https://cryptonewsland.com/solana-blockchain-sees-record-surge-in-new-addresses/" rel="noopener noreferrer nofollow">Solana’s active </a><a href="https://cryptonewsland.com/solana-blockchain-sees-record-surge-in-new-addresses/" target="_blank" rel="noopener noreferrer nofollow">user</a><a href="https://cryptonewsland.com/solana-blockchain-sees-record-surge-in-new-addresses/" rel="noopener noreferrer nofollow"> base</a> has skyrocketed, growing from 426,000 to a staggering 932,000 in Q1 2024.&nbsp;</p>
<p>This phenomenal growth is partly fueled by the meme coin frenzy, which has led to increased transaction numbers and higher fee revenue for the network.</p>
<p>While SOL has already surged nearly 15X compared to its bottom, some experts remain cautious. The inflation of SOL tokens poses a challenge.&nbsp;</p>
<p>However, the overall sentiment remains optimistic, with predictions ranging from substantial gains to nearly 100% growth in 2024. Meanwhile, SOL is trading at $145.13 having gained 4% in the last 24 hours.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also&nbsp;</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/raoul-pal-states-solana-to-lead-new-crypto-market-expansion-rblk-set-to-follow-in-wifs-footsteps-after-bigger-gains-than-bonk-this-month/" rel="noopener noreferrer nofollow">Raoul Pal States Solana To Lead New Crypto Market Expansion, RBLK Set To Follow In WIF’s Footsteps After Bigger Gains Than BONK This Month</a></li>
 <li><a href="https://cryptonewsland.com/expert-predicts-solanas-value-could-skyrocket-by-47x-from-recent-lows/" rel="noopener noreferrer nofollow">Expert Predicts Solana’s Value Could Skyrocket by 47x from Recent Lows</a></li>
 <li><a href="https://cryptonewsland.com/parabolic-btc-surge-imminent-as-bitcoin-enters-the-dramatic-banana-zone-new-ath-soon/" rel="noopener noreferrer nofollow">Parabolic BTC Surge Imminent as Bitcoin Enters the Dramatic Banana Zone, New ATH Soon?</a></li>
 <li><a href="https://cryptonewsland.com/real-vision-ceo-foresees-solana-doubling-sparking-crypto-summer-in-2024/" rel="noopener noreferrer nofollow">Real Vision CEO Foresees Solana Doubling, Sparking Crypto Summer in 2024</a></li>
 <li><a href="https://cryptonewsland.com/parallel-finance-launches-eth-backed-nft-finance-beta/" rel="noopener noreferrer nofollow">Parallel Finance Launches ETH-Backed NFT Finance Beta</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/analysts-foresee-sol-skyrocketing-by-100/" rel="noopener noreferrer nofollow">Solana (SOL) to Skyrocket: Analysts Foresee 100% Growth</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Solana (SOL) to Skyrocket: Analysts Foresee 100% Growth

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