Solana in the ‘Process of Breaking a Downtrend’ – SOL Price Projected to Gain +25% in October

SOL holders have good reasons to smile again as Solana is now in the process of breaking a downtrend. This is according to Alan Santana, a top analyst with over 100k strong following on TradingView. What’s more? SOL is set to move above EMA10 and EMA21 on the same day.

Though this is yet to be confirmed, it appears inevitable. Again, this is not the first time Solana will pull through in this manner. It happened in August but this time, the signal is even stronger. In line with that, SOL price is projected to gain +25% in October.

A signal too strong to miss

The last time Solana managed to close above EMA10/21 on the same day, it moved lower against expectations. In that period, the MACD remained above zero with much room to move lower. This time around, the MACD has gone through a full reset.

Based on the current signal, the MACD is moving forward from a low point. Also, there is plenty of room for growth this time around, as the chart below shows clearly.

What is random and what is not?

While the crypto market is notoriously volatile and somewhat unpredictable, some factors are irrefutable. Against popular belief, the financial markets are not really random. This also applies to the cryptocurrency market.

Though some periods on the market seem to be characteristically random, top analysts are able to spot trends and take advantage of specific periods. This is looking like one of those periods of certainty in SOL price prediction.

For informed traders, trends represent structured periods of market actions. With trends, the market becomes predictable within specific periods. Technical analysts are trained to spot and interpret these specific periods as trends for trading purposes.

What this means for SOL price

As earlier stated, Solana’s price has been estimated to gain +25% next month. This is according to recent market trends and Alan Santana supports that. Solana may not have a defined cycle like the popular Bitcoin four-year cycle, but it is showing a strong signal for price pumps in the coming weeks.

The Solana ecosystem has been busy in recent times. Thanks to its inherent qualities such as speed, scalability, and security, Solana has been able to attract a global community to shape the future of decentralized internet. The Hyperdrive Hackathon is heating up, and it is expected to accommodate over 4,000 builders from across the world.

Coincodex Solana price prediction has always been realistic. With projects from the Solana-backed Hyperdrive Hackathon due on October 15 and up to $1 million in prizes and seed funding up for grabs, the ecosystem is about to light up.

Wrapping Up

Volatility and randomness aside, Solana looks set to break a downtrend and move above EMA10 and EMA21 in a single day. Also, the MACD is moving up with lots of room for growth. This marks a positive trend that SOL holders should be ready to take advantage of.

We expect a lot to happen in the coming weeks, even as the Solana ecosystem continues to bask in the euphoria of the Hyperdrive Hackathon. This is a good time to keep an eye on SOL price as it has been forecasted to gain by +25% in October.