The key take-away for InvestingHaven’s Solana (SOL) targets – any drop to the ‘buy the dip’ area can be bought. While the bullish targets are high, we might see a drop in SOL first, before it continues its meteoric rise in 2025.
SOURCE – Solana Price Predictions 2024 2025 2026
With a focus on objective price forecasts, InvestingHaven tends to publish new price targets once every few months.
SOL in 2023
In January, we suggested to take profits after SOL went up 6x. Admittedly, a few months later, SOL continued to rise but that’s besides the point. We flashed a strong buy on SOL in August of 2023, and hitting a rally of 600% is the big topic, not the next leg of 40%.
That said, we are refining our SOL targets now: we add a higher target for 2025, and slightly adjusted upward our downside target for H2/2024.
Solana (SOL) targets for 2024
Crypto investors, at least most of them, hate it when an analyst talks about downside targets. The concept of ‘mooning’ is ingrained in the brains of many investors. It’s almost as if most crypto market participants are conditioned.
While it is nice to dream of multi-baggers, the reality is that most investors enter way too late and exit way too late. They leave a lot on the table which, in our view, causes the feeling of not wanting to hear about downside targets.
Still, we believe there will be a drop in crypto late summer 2024.
The upside Solana (SOL) target is where it currently trades, there might be some 40% more upside, that’s the max that SOL can do in this bull run, is our view.
This analyst shares our viewpoint:
I like to ruffle some feathers sometimes so here’s a $SOL macro update I made for paid group subscribers that I decided to make public.
— Bluntz May 25, 2024
Solana (SOL) targets for 2025
Now, for 2025 we believe that SOL will pierce through its ATH.
If SOL would drop in 2024, respect the key Fibonacci levels like the 38.2% and 50%, in doing so also respect its rising trendline, it will be creating a cup and handle chart formation. That’s a very bullish chart setup.
This is what we wrote on our Solana predictions research page:
Our Solana forecast 2024 is based on Solana’s bullish cup and handle pattern. SOL should drop to support at $82.84 which, if hit, we predict will offer an epic buy opportunity. If this support holds, InvestingHaven’s Solana forecast 2025 suggests bullish targets in the $500 – $1,000 area.
The chart visualizes our point. The short version: if our 2024 upside and downside targets will be respected, it will be wildly bullish for Solana in 2025.
SOLUSD
In sum, first a pop followed by a drop which is the setup that will enable to secular breakout.
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This news is republished from another source.
