solana Its price showed crazy growth, gaining 50% on a weekly basis, while benefiting positively from the current momentum in the market. Moreover, the price continues to register strong bullish price action, indicating the possibility of another price bounce soon.
While the cryptocurrency market spent the weekend generally ‘sideways’, the Bitcoin price lost the $ 37,000 level. Prominent altcoin Ethereum, on the other hand, continued to remain close to $2000 levels. While business is still going well on a monthly basis, investors remain hopeful about the future.
Altcoin Sherpa, a well-known crypto analyst with a significant following of over 198 thousand on the “X” platform, recently commented on the possible targets of Solana price for this year. made.
During the bull run, SOL price successfully broke out of the key resistance level at $47.40. The next major resistance level is set at $77.65.
$LEFT: still probably going to go to $75 within the next few weeks. Consolidations like these are healthy; bidding $55 is a decent idea for traders. I think you have a chance for it to go there again. #totheleft pic.twitter.com/ImVydFdCs8
— Altcoin Sherpa (@AltcoinSherpa) November 13, 2023
NEWS CONTINUES BELOW
Following the rise in price, Solana price has been trading in a narrow range for the last two days. Koinfinans.com As we reported, altcoin Sherpa assumes that this consolidated range is healthy, as such ranges indicate a bullish trend in the market.
Indicators show that SOL price is constantly rising on its charts. Moreover, the averages are rising sharply, indicating a bullish strength in the market. Additionally, the analyst expects the price to reach $75 in the coming weeks and therefore believes it is the right level to buy.