The post Ethereum Competitor Solana To Surge More Than 20% In The Coming Weeks, Per Analyst appeared first on Coinpedia Fintech News
On November 5th, Google announced that the Google Cloud would run a validator on the Solana blockchain. This news caused the SOL price to spike by nearly 15%. However, the bulls couldn’t maintain the momentum for too long; thus, the currency began trending toward the south in the early hours of today.
At the time of publication, Solana is selling at $31.14 after a drop of 13.48% over the last 24hrs. The immediate support is around $28, and resistance is at $35.
Solana Price Beyond $40?
A well-known crypto strategist, anonymously known as Cantering Clark, informs his 149,500 followers on Twitter that the Ethereum competitor, Solana, will soon claim a massive bull run. He added that he was so bullish since FTX Ceo Sam Bankman-Fried holds Solana as well.
The analyst claims that if Solana manages to regain $34.50, then the currency can easily trade beyond $40.
I have trouble with the idea that Solana does not put in a massive pump again at some point. The more I think of it, SBF holding a bunch should make me more bullish than bearish.
From a purely trend following and swing standpoint, this too is getting close to a green light. $SOL pic.twitter.com/ZtSHyQHclV
— Clark (@CanteringClark) November 4, 2022
He isn’t alone regarding this perspective. Another crypto analyst, Immortal, is also on the same page as Clark. Immortal makes an effort to inform his 180,000 followers over Twitter that Solana is about to surge towards a target of $50.
A man can dream.$SOL pic.twitter.com/f6skSRnEd1
— Inmortal (@inmortalcrypto) November 1, 2022
Even a popular analyst, Altcoin Sherpa, has joined in agreement. He believes that in the coming weeks, Solana will regain a target of $40.
$SOL: I think it’s at a key level on the 4h, would really like to see this area hold given the EMAs. $30 is the next area up if we fail. I’m still of the opinion we’ll see high 40s though in the coming weeks. #Solana pic.twitter.com/CJM57PZHhE
— Altcoin Sherpa (@AltcoinSherpa) November 2, 2022
It’s essential to understand that each analyst has their own set of facts based on which they predict specific targets for the assets. Hence, if Solana has to make its bullish move, then the altcoin should first capture its price trend above $34 before moving past $40.
