Solana (SOL), the popular altcoin that everyone expected to collapse after FTX’s sudden bankruptcy but rose from the ashes, has stalled after reaching the critical level of $150 earlier this week.
But one analyst argued that Solana could be on the verge of an explosive bull run.
Experienced analyst Ali Martinez claimed in his analysis from his X account that Ethereum’s biggest rival SOL could reach up to $4,500.
The analyst based his big prediction on the cup-handle model.
According to the analyst, a cup-handle pattern is forming on the Solana chart, which could take the SOL price to $4,500. However, for this pattern to be confirmed, Solana would need to break out of the resistance line in the handle and make a weekly close above it. Therefore, the analyst did not provide a timeline for when the SOL price could reach this target.
However, some analysts also state that Solana price is unlikely to rise in the near term due to the negative funding rate, decreasing social volumes, and falling memecoin activity, and that Solana will go through a consolidation process.
Solana, which has fallen 2.7% in the last 24 hours, continues to trade at $148.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/solana-could-be-on-the-verge-of-a-big-rally-veteran-analyst-reveals-his-incredible-prediction-for-sol/