Altcoin Sherpa, a prominent name in the crypto space, has expressed a striking bullish expectation for the popular altcoin called Solana (SOL). Solana is the fifth largest crypto asset by market cap and according to Altcoin Sherpa, it has huge upside potential in the coming period.
According to Altcoin Sherpa’s analysis, Solana’s value may increase by approximately 250% to 600% this cycle. Sherpa believes that SOL will easily break all-time highs, but it is difficult to predict with certainty how much this increase will be. Based on his estimates, it seems likely that Solana will hit a $500 price target, but it’s unrealistic to expect an extravagant raise like $1,000.
The analyst also emphasizes that Solana is still one of his largest investments. In his eyes, Solana’s potential is quite high and could bring big returns. According to the analyst’s predictions, Solana’s next target will be to reach the $170 level. However, at this point investors should be careful and make their decisions considering the fluctuations of the market.
“LEFT: This will break cleanly all-time highs from this cycle, the only question is how high it will go. $500 is possible, something exaggerated like $1000 is out of the question in my opinion. It’s still one of my biggest investments. “Next level is $170.”
NEWS CONTINUES BELOW
According to the chart, important resistance levels have been determined for Solana. After climbing above $140, the major resistance levels that Solana will face appear to be around $174 and $202. Exceeding these levels could contribute to a further rise in the altcoin price.
Altcoin Sherpa also talks about Bitcoin, the market’s leading cryptocurrency your predictions updated. The analyst says BTC will experience major volatility in the short term but will eventually reach a six-figure price tag this cycle. According to the analyst’s chart, Bitcoin could rise to just under $70,000 before falling to $62,000 in the near future.
“Bitcoin will hit $100,000 this cycle, and these short-term moves are dazzling on the radar. “Don’t lose your savings so close to the finish line.”
At the time of writing, Bitcoin is trading at $67,299, with a small increase in the last 24 hours.
You can follow the current price movement here.
