Solana to $1,000? Analyst remains bullish despite recent downturn


After a minor market fall today, Solana (SOL) maintained key support levels and boosted investor confidence. The altcoin is among the top cryptocurrencies with a $6.50 billion 24-hour trading volume. SOL has 3.04% market share.

Analyst Expects Solana Boom

Famous crypto analyst Trader Tardigrade makes wild forecasts. Recent study by Tardigrade was hopeful about Solana's pricing trend. The expert says SOL, trading at $170, has broken out of its consolidation pattern and is headed toward $1,000.

Beyond price estimates, Tardigrade highlighted intriguing Solana ecosystem developments. SocialFi apps, blockchain-based social media sites, are one example.

Although SOL prices fell 4.50% in the previous 24 hours and 1.30% in the last week, the prognosis is positive. Market watchers are optimistic about cryptocurrency's short- and long-term prospects.

Ethereum ETF Approval Impact

The recent approval of the Ethereum ETF is likely to boost the altcoin market, including Solana. This market-wide optimism might boost SOL prices.

The Ethereum ETF's acceptance boosts institutional confidence in the cryptocurrency industry and helps other blockchain initiatives receive mainstream attention. Alternates like Solana will benefit from higher liquidity and acceptance as more investors get comfortable with bitcoin investments via regulated financial instruments.

Solana saw its maximum price at $259 on November 6, 2021, and its lowest price of $ 0.503701 on May 11, 2020.

The lowest price since ATH was $8.00. The highest SOL price since the cycle low was $207. Positive sentiment surrounds the Solana price prediction, and the Fear & Greed Index is 76.

#Sol #altcoins #buythedip #solana $SOL