Solana (SOL), the rising star of the altcoin market, has recently attracted the attention of investors. Based on technical analysis, experts predict that the SOL price may enter a significant uptrend in the coming period. Solana (SOL), which has entered a rapid uptrend since the last quarter of last year, has become one of the most talked about topics in the cryptocurrency market. Studies by technical analysis experts in particular indicate that the SOL price may increase by up to 900 percent in the coming period. This situation directs both individual investors and large institutions to Solana.
The rise is expected for the altcoin project SOL
The cryptocurrency world has been moving like a volcano recently. Solana (SOL), which rose from $ 20 levels in the last quarter of last year, dazzled investors by quickly rising above $ 200. The cryptocurrency, which has been following a horizontal course in recent months, has never left the experts’ radar. According to famous cryptocurrency analyst Ali Martinez, Solana is preparing for a new uptrend. Based on technical analysis results, Martinez claimed that the SOL price could increase by 900 percent and reach $ 1,700. This prediction had a great impact in the cryptocurrency world.
Martinez’s bold prediction is based on a technical formation that Solana recently achieved. This technical indicator, known as a “flag formation,” usually occurs after a major uptrend or downtrend and signals a period of consolidation in price. Solana’s completion of this formation could be a sign of a new uptrend, according to experts.
Solana’s rise in focus of big institutions
Solana’s potential to rise is not just drawing the attention of technical analysts. Its popularity in the cryptocurrency ecosystem continues to attract the attention of both individual investors and large institutions. Recently, Franklin Templeton, one of the world’s largest asset managers, listed Solana among its promising blockchain projects. The company, known for its interest in Bitcoin and Ethereum, invited investors not to ignore other ecosystems and reiterated its confidence in Solana.
Solana, which has gained 577.86 percent in value in the past year, has increased by 67.56 percent since the beginning of 2024. The cryptocurrency, which has increased by 24.66 percent in the last month, is currently trading at $170.69. Although there are different opinions about Solana’s future, its recent performance is remarkable. While the potential rise indicated by technical analyzes excites investors, experts are also closely following the developments. We will all see what surprises Solana, which has become one of the most popular names in the cryptocurrency world, will prepare for its investors in the coming period.
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