A slight correction is taking place on the cryptocurrency market. After briefly reaching $66,000 last week, Bitcoin (BTC), fell to below $64,000. Solana, (SOL), followed the trend by dipping 0.9% on the daily charts.
In spite of the correction, SOL is still up by 6,6% on weekly charts and 18,2% on 14-day charts. It’s also 16% higher than the previous month. SOL has also been one of the most successful assets in the past year. Its rally since October 2023 is 629.6%.
One analyst believes that SOL is likely to continue its current surge.
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Solana Predicted To Rise 5x
According to X User MartyPartySOL has “been consolidating organically at $150 for 225 days.” Analysts expect the asset to grow five times before Q4 2020, which is roughly a year hence. The asset will reach $776 if it grows 5x its current value. At $776, a 400% increase from the current price will be achieved.
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How much can the asset reach in 2017?
Changelly analysts believe that SOL’s price will remain below $700 in the coming year. Platform predicts SOL will trade for a maximum of $202,05 by Q4 2025. SOL is not expected to reach $776 before February 2029. That’s five years away.
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Telegaon’s researchers also present a similar scenario for Solana. Platform analysts predict that Solana (SOL) will reach $776 by 2030.
SOL could hit its $776 goal next year, however several conditions must be met. The market must have a positive sentiment and an aggressive bull run.
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Source: watcher.guru
