Will the Price of solana (SOL) Increase by 20%? These Analyst Chips
TL;DR
- SOL is up 10% for the week, with analysts divided on its future: Some predict it will rise above $113, while others predict it will fall to $70.
- Solana-based meme coins including Wen (WEN), bonk Inu (BONK), and dogwifhat (WIF) have seen significant gains, with WEN reaching an all-time high following a recent airdrop.
Can SOL Climb Above $110?
Solana’s SOL is among the few leading cryptocurrencies whose price was in the green last week. Currently, it is trading at around $98 (according to data from CoinGecko), which represents a 10% increase on a seven-day scale.
Some experts believe that the token, including popular X (Twitter) user Ali, may be poised for further rises.
Hey presented A chart where SOL has “exited” from a specific descending parallel channel. The analyst claimed that staying above the $94 level could lead to an appreciation towards $113.
X user Bluntz also contributed recently, but outlined a more bearish future for the asset. The analyst sees SOL charting a specific trajectory called the “B-wave triangle” that indicates a possible drop to the “low 70s”.
The pattern is one of the phases in Elliott Wave Theory and occurs during the correction phase. In the “b wave triangle” the value of a particular cryptocurrency creates a series of lower highs and higher lows, suggesting a period of consolidation before making a significant move in any direction.
However, Bluntz remains unfazed by the potential decline and sees it as a buying-the-dip opportunity. Those interested in exploring additional SOL predictions can check out our exclusive video below:
Solana Meme Coins under the spotlight
SOL may have been up “only” 10% last week, but some Solana-based meme coins have made headlines with astronomical increases lately. The latest sensation seems to be Wen (WEN). rose It hit an all-time high today (January 29) following an airdrop from decentralized exchange jupiter.
Bonk Inu (BONK) and dogwifhat (WIF) have also been very successful and their prices have reached record levels. lists On major cryptocurrency exchanges such as Binance.
SPECIAL OFFER (Sponsored)
binance $100 Free (Exclusive): Use this link to sign up and get $100 free and 10% discounted fee on Binance Futures for your first month (conditions).
#Price #Solana #SOL #Increase #Analyst #Chips