Despite recent price declines, Solana continues to capture attention, with analysts split on whether the asset is headed for a major breakout or further decline. Here's a detailed breakdown of the latest forecasts:
đ Recent Price Movement
Solana has faced a significant price dip, falling from a high of $161.62 to trade below $137 this week.
In the last 24 hours, the token saw a 4.48% decline, sparking concerns among some traders.
Criticism from notable figures like Edward Snowden has added to the negative sentiment.
đ Bullish Forecasts for Solana
đĄ Crypto Analyst Jelle:
Despite the dip, Jelle, a popular crypto analyst with 91,000 followers, remains optimistic.
He highlights Solanaâs resilience in maintaining its consolidation range between $125 and $165.
Jelle believes Solana could surpass its all-time high of $260 and even reach a new peak within three months.
đ Potential Upside: Solana's strong performance could push it into new price territory, driven by improving market conditions.
đ Conor Kenny:
Kenny projects Solana could achieve a $1,000 per coin valuation, drawing parallels with the tokenâs impressive growth in mid-2021.
This optimistic forecast is shared by several other analysts, fueling excitement around a potential bull run.
đź Davinci Jeremie:
Crypto commentator Jeremie also supports the view that Solana could hit $1,000, aligning with other bullish projections.
â ïž Bearish Warnings
đ Matthew Dixon, CEO of Evai:
Dixon urges caution, suggesting the recent upward movement is corrective rather than impulsive.
He highlights that last nightâs price drop invalidated a potential bullish setup, raising the probability of lower prices ahead.
While Dixon did not provide a specific price target, other analysts warn Solana could drop as low as $55 in a bearish scenario.
đź Conclusion
Solanaâs future is split between bullish optimism and bearish caution. While some analysts foresee a path to $260 or even $1,000, others remain wary of a deeper correction.
đ Disclaimer: This post is for informational purposes only and should not be considered financial advice. Always DYOR (Do Your Own Research) before making any investment decisions!
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