#SOL
Long Position
Entry @ Market Price
$100 - $101
Leverage 45x - 60x
Set SL according to your risk appetite.
This range is an opportunity to ride the bullrun of SOL. It mirrors the movement of #BTC
Here a few takeaways why it would go up to $120.
Prominent crypto analyst Rekt Capital issued an upbeat short-term forecast for Solana’s SOL token this week, calling for a “significant surge” toward the $115 level. The prediction comes as Solana prices regain positive momentum after reclaiming former range lows.
According to Rekt Capital, Solana continues tracking a predetermined price path that has already powered a 33% SOL rally off recent swing lows. The advance reestablished support in a week-long trading range as technical indicators flashed increasingly bullish.
SOL currently trades around $104.50, building on a 27% pop for the week. Rekt Capital now eyes the $98.90 level representing SOL’s former range bottom as a potential “reclaim event” should prices correct temporarily. From there, a lift-off toward topping $115 becomes distinctly possible.
On-chain data also captures intensifying tailwinds, with SOL trading volumes spiking 60% in the past 24 hours alone. The surge has forced nearly $10 million worth of futures trader liquidations in the last day as well.
The volatility reflects how swiftly sentiment pivots across risky assets like cryptocurrencies. But analysts generally believe Solana’s strong platform usage metrics provide a favorable backdrop, especially should macro gloom lift.
Even this week’s rally merely returns SOL to levels breached last September. Nonetheless, excited Solana proponents starved for good news will take any suggestion of a durable trend reversal.
If SOL maintains or builds on its nascent breakout in the coming sessions, focus turns to the $120 barrier for evidence bears are sustaining casualties in what could become a mid-year rally.
