Bitcoin and October, known as the rising month for altcoins, started with a decline. While reasons that are not specific to crypto (tension between Iran and Israel) were effective in this decline, investors still continue to expect an increase in October.
At this point analysts solanaWhile he expected the price to rise in October, he evaluated that increased network activity, strong partnerships and market sentiment would be effective in this rise.
Speaking to The Block Ryan Lee, Chief Analyst at Bitget Research, Increased activity on the Solana network combined with key partnerships and positive market sentiment LEFT He claimed that it paved the way for the rise in price.
“Given current market sentiment, increased activity and continued development of the Solana ecosystem and key partnerships, we expect Solana to be more bullish than bearish in October, potentially reaching a price range of $160 to $180.”
Stating that $110 is an important support level in Solana, Lee said that this support also worked during the big collapse at the beginning of August and SOL held on to this level firmly.
Stating that on-chain data shows that Solana experienced a significant increase in daily active addresses in September, the analyst pointed out that Solana’s total locked value reached approximately 5.5 billion dollars, reaching the highest level in recent months.
*This is not investment advice.
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