Solana (SOL) Surges Over 5%: Analyst Predicts Potential Rally Beyond $140
- SOL sees a 5% surge in daily charts, marking a 4.9% increase over the last week and over 47% since December 2023.
- Analyst “Bluntz” predicts a potential rally beyond $140 in the coming weeks, emphasizing the tested downtrend and a corrective three-wave move.
The latest surge may not be the end for SOL, as per crypto analyst “Bluntz,” who anticipates a potential rally beyond $140 in the upcoming weeks. The analyst emphasizes that the downtrend has been tested multiple times and highlights the correctness of the three-wave move down from SOL’s highs.
i think $sol might be gearing up for a leg up to 140+, this downtrend has been tested too many times now for me to consider bearish and cant ignore the clear 3 wave move down from the highs looking corrective.
looks like the past 2 week range has been a base, send it. pic.twitter.com/X9gnzCuKIJ
— Bluntz (@Bluntz_Capital) January 17, 2024
SOL showcased an exceptional performance in 2023, rallying by nearly 1000% at one point from January to December. Despite a subsequent decline, SOL remains down by over 60% from its all-time high of $259.96, achieved in November 2021, over two years ago. The November 2022 collapse of FTX, a now-defunct exchange bullish on SOL, significantly impacted SOL’s price.
Predictions for 2024
Changelly offers a long-term perspective, predicting SOL’s potential to reclaim its 2021 peak in March 2026, reaching a maximum price of $251.77. However, for 2024, Changelly anticipates a bearish outlook, suggesting SOL’s price could drop to below $30 in August.
Telegaon aligns with the expectation of SOL surpassing its all-time high in 2026 without specifying the month. For 2024, Telegaon foresees SOL reaching a maximum price of $165.
Solana’s recent surge and the optimistic predictions from analysts and platforms indicate a potential comeback for the cryptocurrency, sparking interest and speculation in the crypto community.
