A crypto analyst is predicting a huge price jump for Solana (SOL). They believe the cryptocurrency could nearly double in value.
Solana’s Upward Trend
According to the analyst, Solana’s price chart shows it’s moving upwards within a specific pattern. This pattern suggests continued growth, with a potential rise to $387. Currently, SOL is trading around $201, meaning a jump to $387 represents a massive 92% increase. The analyst highlights that maintaining its current support level is key to this prediction.
Strong Network Growth
The analyst also points to Solana’s strong network growth as a positive sign. They note that over 5 million new addresses are being created daily, indicating significant adoption.
Bitcoin’s Influence
The analyst also mentions Bitcoin (BTC), noting that over $6.794 billion worth of BTC has left cryptocurrency exchanges in the past week. This is seen as a sign of long-term investor confidence in Bitcoin. At the time of writing, Bitcoin is trading at $96,932.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto is risky, and you could lose money.
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