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A pseudonymous crypto analyst predicted that Solana (CRYPTO: SOL) could reach all-time highs of $360 by early 2025.
What Happened: Inmortal shared a chart on X, that shows the sixth-ranked cryptocurrency by market capitalization which is also called as “Ethereum (CRYPTO: ETH) killer” might climb to roughly $100 by year’s end, $200 by September 2024 and $360 by 2025. This would mean a 462% increase in its price.
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“You look lonely, I can fix you,” wrote the analyst on X.
SOL is currently trading downward at $64.81, surging over 4% in the last 24 hours. This is far from its all-time high of $260 set in November 2021.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: On the other hand, another analyst, Ali, hinted at a potential downturn in Solana’s market price. “Solana remains at risk of a price correction! The TD Sequential recently presented a sell signal on the $SOL weekly chart, while the RSI is in overbought territory. A spike in profit-taking could trigger a retracement to $47.6.”
According to Ali, for Solana to dodge this adverse trend, it would need to “print a weekly candlestick close above $68.4 to invalidate the bearish outlook and aim for $108.”
Earlier in November, ARK Invest CEO Cathie Wood said, “Solana is doing a really good job. Ether was faster and cheaper than Bitcoin (CRYPTO: BTC) [back] in the day — that’s how we got Ether. Solana is even faster and [more] cost-effective than Ether.”
Photo by Rafapress on Shutterstock
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Options 101: Ready to Shift 2023 Into High Gear Ahead of 2024?
In a market primed for success with halted rate hikes, slowing inflation, and bullish outlook from big banks, Options Starter is your key to capitalizing on these opportunities. Unlock market-winning strategies now with Options Starter. Grab your 90% discount here.
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