š„š„š„ Solana to hit $600 in āmania-likeā stage, according to analyst
Despite some assets in the cryptocurrency market experiencing slowdowns, Solana ($SOL ) is showing promising signs and could continue to rise, potentially reaching $600 in the coming weeks.
Solanaās Positive Momentum
According to a July 31 analysis by pseudonymous crypto trading expert Jelle, Solana has recently broken out from a re-accumulation structure and appears poised for significant gains. The analysis suggests that Solana might soon enter a "mania-like stage" and experience aggressive scaling, with a target price of around $600 over the next few months.
Solana Price Prediction 2024
If Jelleās forecast holds true, Solana could see an impressive increase of 229.04% from its current price and a 130.81% gain from its all-time high (ATH) of $259.96 reached in November 2021.
Current #Priceanalysis
As of now, Solana is trading at $182.35, reflecting a 1.13% gain over the past 24 hours, a 2.71% increase over the last week, and a 24.99% rise over the past month.
Factors Driving the Surge
Solanaās recent price surge may be influenced by recent developments in the legal battle between the U.S. Securities and Exchange Commission (SEC) and Binance. The SEC has recently withdrawn its claim that certain crypto assets, including Solana, are unregistered securities, which may have positively impacted Solanaās price.
Conclusion
Given these positive indicators, Solana could potentially reach the high target set by the crypto expert. However, market trends can change rapidly, so conducting thorough research before investing is essential.
Source - finbold.com
