Analysts Predict Solana's Price Surge to $300.
Recently, the overall rise in the cryptocurrency market has led to a significant increase in Solana's price.
Despite a slight drop during the day, expectations persist that Solana 's price increase could continue, with analysts suggesting it has the potential to reach $300.
Technical Analysis and the "God Candle" Surge.
According to cryptocurrency analyst Inmortal, Solana is preparing for a strong upward movement known as a "god candle." Inmortal noted that SOL recently surpassed the important resistance level of $211. This breach of resistance typically indicates the beginning of a bullish trend. Another analyst, Moon, predicts that Solana has broken through a symmetrical triangle pattern, which could drive its price to $300.
Strong Performance Against Ethereum
In the past year, Solana has provided its investors with a return of 188.42%, while Ethereum 's return remained at 39.03%. Analyst Antony Pompliano emphasizes that Solana poses a strong competition to Ethereum in the field of decentralized application development. A survey by MV Capital indicates that 30% of investors believe Solana could be one of the top-performing assets in the current market cycle, reflecting the acceptance of Solana's fast and scalable structure by investors.
Expectations for a Spot Solana ETF.
Another positive expectation for Solana's price is the possible emergence of a spot Solana ETF in the U.S. Cboe, VanEck, and 21Shares have applied to the SEC for the listing of the Solana ETF. If a crypto-friendly SEC board is appointed, the likelihood of Solana ETF approval may rise. The implementation of a spot Solana ETF could facilitate access to assets from traditional markets, leading to an increase in demand for SOL.
Robinhood Relists Solana.
Additionally, Robinhood has relisted Solana (SOL) alongside Cardano (AD A), XRP, and Pepe (PEPE). Solana, which was removed from the platform last year due to an SEC lawsuit, has found its way back onto Robinhood.
