Solana continues to push forward, climbing above $70 and setting the stage for new local highs. It is currently trading at $72, up 9% today, 15% this week, and 32% this month.
Meanwhile, the newly launched TG Casino is also gaining momentum. Its presale is approaching the $4 million milestone, with a hard cap of $5 million.
Solana outbreak
The broader cryptocurrency market has turned bullish this week, allowing Solana to continue its recent upward trajectory. As a result, traders are bullish on Solana, with some predicting that it could reach over $100 in the short term.
Following Solana’s recent rally, trader Deftsuo said Solana “looks like it’s about to breakout above $80. The parabolic structure is also there.”
The analyst continued, “In my opinion, we will likely see SOL over $100 by the end of the year; because if it breaks above $80, there won’t be much resistance until $100.”
Deftsuo uses the EMA indicator along with the RSI, Stochastic RSI, and BBWP indicators to predict Solana’s next move.
Another bullish trader is ALTSREET BETS. The analyst published a long-term Solana price prediction in October, when SOL was priced at just $28, predicting that its price would reach $100 to $150.
Following the recent rally, the analyst updated his followers, saying “$100 is next.”
Meanwhile, CryptoDog maintains a bullish outlook on Solana after the price broke above trendline resistance.
Turning to fundamental analysis, Solana Key Opinion Leader (KOL) Solana Sensei believes that the upcoming token launch could push SOL to $100. < /span>
The token in question is JUP, the native currency of Solana’s multi-purpose decentralized exchange Jupiter. The platform offers perpetual trading, dollar-cost averaging, and more.
JUP will be distributed via airdrops, and Solana Sensei speculated, “JUP is going to be huge. I think this could even push SOL prices up to $90-100 levels. We are not ready for what is going to happen.”
Clearly, the community is bullish. However, it is important to consider that Solana has already rallied significantly, so a deeper pullback could be due.
Among traders supporting this thesis is TradingView analyst Engulfing Premium, who predicts that it will reject the resistance area between $70-80 and pullback to $47 and then $38.
While the broader market consensus is bullish, the forecast highlights that Solana is not without risk.
TG Casino pre-sales approach $4 million
TG Casino is an anonymous cryptocurrency gaming platform launched on Telegram.
This improves user experience, security, and the registration process.
The project’s native token TGC offers benefits such as rewards, game and room access, 158% staking APY, 25% cashback on losses, and more.
This token utility means that the demand for TGC will be correlated with the demand of casinos.
Moreover, the project also has a repurchase mechanism, using part of the platform's revenue to repurchase TGC from the market. It will burn 40% and use 60% for staking rewards. This makes TGC deflationary.
The presale has raised nearly $4 million so far. Prominent analysts support the project, with analyst Poe predicting it can compete with market leader Rollbit.
As of this writing, Rollbit has a market cap of $630 million, while TG Casino launched with a fully diluted market cap of just $12.5 million.
【Disclaimer】The market is risky, so be cautious when investing. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Investing based on this information is at your own risk.
