By Nermeen Nabil Khear 
TL;DR
-
Solana (SOL) saw wild price swings, with one analyst eyeing a possible rally to $147 if it pumps above a certain level.
-
Others predict a potential slump to as low as $80 but view this as a buying opportunity.
Can the Bulls Erase Some of the Losses?
The cryptocurrency market turbulence observed in the past few days had a huge impact on Solana (SOL), whose price was on a rollercoaster. On April 7, it crashed below $100 for the first time since February 2024. The following day, SOL briefly surpassed $110 before retracing to the current $107 (per CoinGecko’s data).
The renowned analyst Ali Martinez recently raised the bulls’ hopes that a resurgence could be on the way. He estimated that the TD Sequential indicator flashed the buy signal on Solana’s weekly chart. In his view, staying above $95 and rising beyond $121 could set the stage for a pump towards $147 (a nearly 40% increase from the current valuation).
It is worth mentioning that Martinez was less optimistic just days ago when SOL’s price was in a state of a freefall. He predicted the dive under $114 could lead to a massive slump to as low as $60.
The user Ted Pillows chipped in, too. He noted that SOL briefly bounced from the multi-year support trendline of around $110. He argued that the last time the price retested this level was in Q3, 2023, and in the following months, it skyrocketed by 1,000%. “Will something similar happen again?” he questioned.
Ready to Stack at This Level
Another popular market observer who touched upon Solana’s price dynamics is the X user Alex RTB. They believe the asset may plummet to $80 before experiencing a pump. However, the analyst seems unfazed by the potential pullback, preparing to enter the ecosystem as an investor at these levels.
“$20 – $25 don’t matter much for long term but if we are looking for safest entry, its coming. Prove me wrong if you can,” they concluded.
Earlier this week, Crypto_Jobs suggested that SOL could find a “key bottom level” even lower:
“Zooming on my monthly and weekly view, I can tell you with some confidence that the magnet & key bottom level will be around $68 – $70.”
The post Solana (SOL) Can Soar by 40% But Under This Critical Condition (Analyst) appeared first on CryptoPotato.
“TD Sequential flashes buy signal on the Solana weekly chart,” Ali Martinez estimated. Crypto Bits, Crypto News, SOLBTC, SOLUSD, Solana (SOL) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.