Among the various altcoins on the market, Solana price has been doing relatively well, with slight price increases every now and then.
Based on a cryptocurrency analyst’s prediction, Solana may be gearing up for a major bull flag that could take its price to new all-time highs above $1,000.
It's worth noting that Solana is currently trading at less than one-ninth of that projected $1,400 price target.
A cryptocurrency analyst on the X platform (formerly Twitter), identified as ‘Titan of Crypto’, has shared a bullish forecast for Solana, predicting its rise to astronomical levels.
The analyst predicted that Solana price could jump to $1,400 soon, identifying a well-defined bullish flag pattern in a comprehensive analysis of Solana’s price movement from 2023 to date.
This bullish flag pattern signals the potential for a major rally in the coming weeks and months.
If SOL manages to complete this pattern without experiencing significant price drops, the analyst expects the altcoin to reach new all-time highs at $1,429 by 2026.
However, a more conservative price was suggested by another analyst, who stated that a rise to $1,000 based on the Heads and Shoulders technical indicator would be a more realistic price target for Solana.
The Titan of Crypto also confirmed that if Solana continues to capture this projected price increase, its current market cap of $72.7 billion could potentially double, surpassing Ethereum's market cap, which currently stands at $315 billion.
While analysts expect Solana to experience a bullish move soon, the cryptocurrency has also shown strong price fundamentals amid market volatility and previous dips in the price of Bitcoin (BTC).
Solana’s price is currently at $154.92, marking an increase of 8.59% in the past week.
The popular altcoin has already seen another 1.75% surge in the past 24 hours, highlighting investors’ positive outlook for Solana.
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