2024

Solana

<p>The price of <a href="https://www.thecoinrepublic.com/price-prediction/solana/" rel="noopener noreferrer nofollow">Solana (SOL)</a> has risen by more than 26% in the last two weeks, signaling a potential bullish trend shortly. It is currently valued at about $104 billion, close to its May value of over $185.</p>
<h2 class="wp-block-heading" id="h-solana-etf-decision-expected-next-year"><strong>Solana ETF Decision Expected Next Year</strong></h2>
<p>The approval of spot Ethereum ETFs in the United States has raised more questions about Solana’s future. VanEck has applied to the US SEC to have a Solana ETF. But the decision may not be made until next year.</p>
<p>Prominent investors are betting heavily on Solana’s success in the Web3 ecosystem. Franklin Templeton, an asset manager with $1.64 trillion in assets under management, spotlighted Solana as one of the best blockchain projects. This approval could also increase Solana’s usage and value.</p>
<h2 class="wp-block-heading" id="h-analyst-predicts-900-surge-for-solana"><strong>Analyst Predicts 900% Surge for Solana</strong></h2>
<p>In the wake of its recent surge, crypto analyst Ali Martinez has forecasted that Solana may increase by 900%. Solana’s price stabilized at around $120. Also, the weekly Relative Strength Index (RSI) returned at 50%.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Solana</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> has officially broken out from this bull pennant, suggesting a potential 900% rally ahead. <a href="https://t.co/CWQdWGny0X" rel="noopener noreferrer nofollow">pic.twitter.com/CWQdWGny0X</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1816222323109732386?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
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<p>Peter Brandt, a veteran trader, says investors should be more careful and wait for Solana to break through May’s high. Nevertheless, Solana’s on-chain activity has increased. Whale investors bought more than 238,000 SOL units from Binance at a cost of over $41 million.</p>
<h2 class="wp-block-heading" id="h-increased-adoption-could-propel-sol-bull-run"><strong>Increased Adoption Could Propel SOL Bull Run</strong></h2>
<p>Activity on the Solana network has been on the rise lately, and its ecosystem has been experiencing a lot of activity. Solana surpassed Ethereum in a 30-day trailing DEX volume for the first time. The growth can be attributed to solid meme coins on the Solana network.</p>
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   <p lang="en" dir="ltr">The most interesting and consequential milestone in crypto markets today -&gt; <br><br>Solana has surpassed Ethereum in trailing 30 day DEX volume for the first time ever…<br><br>…it is now the most used chain by that measure. <a href="https://t.co/wD3Ok9ztCM" rel="noopener noreferrer nofollow">https://t.co/wD3Ok9ztCM</a> <a href="https://t.co/MF89Q5hZr7" rel="noopener noreferrer nofollow">pic.twitter.com/MF89Q5hZr7</a></p>— Ryan Connor | BWR <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f7ea.png" alt="🟪" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@_ryanrconnor) <a href="https://twitter.com/_ryanrconnor/status/1815753548841300025?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
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<p>The current crypto cash rotation is still positive for the altcoin market. Solana’s price is in an excellent position to move towards its ATH. More adoption could lead to the next phase of the bull run.</p>
<h2 class="wp-block-heading" id="h-peter-brandt-urges-caution-despite-optimism"><strong>Peter Brandt Urges Caution Despite Optimism</strong></h2>
<p>Analysts expect that the price of Solana could rise to $1700. According to Ali Martinez, this bullish view is correct. The support level is $120, and the RSI rebound enhances this prediction.</p>
<p>This is best captured by Peter Brandt’s caution that to have a stronger bullish signal; the index must reclaim and close above the May high. Franklin Templeton’s endorsement gives credence to the Solana protocol’s prospects. Institutional support can be a key factor in the upward movement of Solana’s price.</p>
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   <p lang="en" dir="ltr">Random ramblings of a relic<br>It can be argued that <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> broke out <br>This is NOT a signal for me because I consider this to be a diagonal pattern<br>I do not consider this a BO until May high is penetrated but by then the R:r is not favorable <a href="https://t.co/65s5NAoRmJ" rel="noopener noreferrer nofollow">pic.twitter.com/65s5NAoRmJ</a></p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1816157118564606394?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 24, 2024</a>
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<h2 class="wp-block-heading" id="h-growing-adoption-boosts-sol-s-price-potential"><strong>Growing Adoption Boosts SOL’s Price Potential</strong></h2>
<p>There is increasing interest in the cryptocurrency community in Solana. However, some influential people are against it. The market mood remains somewhat optimistic, though still not without certain apprehensions.</p>
<p>This bullish run of Solana has institutional investors’ support. This support is still in growth inertia, and the number of people adopting is still increasing. Solana’s attaining a price of $1700 is gradually becoming possible.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/25/solana-price-could-skyrocket-to-1700-says-this-crypto-analyst/" rel="noopener noreferrer nofollow">Solana Price Could Skyrocket to $1700, Says This Crypto Analyst</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Solana Price Could Skyrocket to $1700, Says This Crypto Analyst

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