The cryptocurrency Solana (SOL) is trading at a new all-time high, and the technical indicators of the token suggest that the token is ready for further growth.
In particular, Solana has completed the Base 2 stage of its parabolic curve, preparing the ground for a rise to the range of $1000, known as Base 3, concluded Trader Tardigrade.
According to the forecast, the SOL path started at Base 1, where Solana consolidated in the price range of $20, laying the groundwork for further growth. Base 2 stage was recently completed in the range of around $150.
The roadmap envisions Base 4 with a speculative target in the range of $4000. If the parabolic curve persists, Solana will likely become one of the most valuable assets on the market after Bitcoin.
If Solana were to reach a value of $4000, the market capitalization of the cryptocurrency would reach $1.9 trillion. Such a significant influx of capital would likely require active participation from institutional players, likely interested in the potential emergence of exchange-traded funds (ETFs) based on SOL.
With the election of Donald Trump, the chances for additional ETFs have increased, especially considering Gary Gensler's departure from the position of Chairman of the Securities and Exchange Commission. As is known, VanEck and 21Shares are ready to file applications for a spot Solana ETF.
In the current situation, the crypto asset aims to maintain its current momentum. Analyst Rekt Capital believes that after reaching the level of $260, Solana needs a weekly close or a retest above the key level of $250. This will trigger a move to new all-time highs.
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