$174 In Sight: Analyst Projects Major Surge For Solana (SOL)

Name	Symbol	Market	Market Cap ($)	Algorithm
Optimism	OPUSD	Crypto	1,742,428,994	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Optimism

OPUSD

Crypto

1,742,428,994

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.030	1.68%	1.82	1.82	1.82

Price Change

Price Change %

Current Price

Bid Price

Offer

0.030

1.68%

1.82

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1.89	1.79	1.80	1.79	1.15 - 4.86

High Price

Low Price

Open Price

Prev. Close

52 Week Range

1.89

1.79

1.80

1.79

1.15 - 4.86

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:34:14	1.57	1.82	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:34:14

1.57

1.82

USD

Price x Volume	Volume	Base Symbol	Related Pairs
6,188,843.52	3,356,895.41	OP	OPEUR	OPGBP	OPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

6,188,843.52

3,356,895.41

OPEUR

OPGBP

OPBTC

$174 In Sight: Analyst Projects Major Surge For Solana (SOL)

17/07/2024 9:00pm

NEWSBTC

A favorable breakthrough for Solana is happening very soon. At least, this is what the crystal ball of Ali Martinez tells him. The crypto specialist has come to the conclusion that Solana (SOL) is expected to see significant gains. Based on his latest examination of his chart’s 12-hour pattern, Martinez discovered a typical “W” pattern, which is a well-known sign of a bullish reversal that indicates that the price of SOL is likely to surge in the near future. Related Reading: Expert Foresees XRP Soaring To $250: Technical Analysis Explained Two obvious troughs separated by a peak around the same price level define the “W” pattern, a double bottom. Solana’s most recent movement had an initial bottom on June 23 around $119, topping on June 30 at almost $147. On July 5, the second dip dropped to about $123, thereby verifying the trend before recovering. #Solana appears to be forming a W pattern, which suggests $SOL will surge toward $174! pic.twitter.com/OxXODWi1yA — Ali (@ali_charts) July 15, 2024 Forecast And Investor Emotion Driven by the strong technical basis set up by the “W” formation and backed by optimistic indications generally, Martinez forecasts Solana may reach $174 in the near term. This mark marks a notable comeback from the lows of mid-June, therefore highlighting SOL’s tenacity and future for more expansion. Current estimates indicate Solana will climb by about 14%, maybe reaching $185 by August 16, 2024. Standing at 69 (Greed), the Fear & Greed Index shows rising market confidence; SOL records 18 out of 30 (60%) green days within 4.66% price volatility over the last month. Technical Indices Verify Upward Trajectory Solana, trading at $157 right now, has showed tenacity in keeping its rising trend with a 14% rise over the previous seven days. With the altcoin swinging between its upper and middle bands, indicating ongoing rising momentum, the Bollinger Bands (BB) indicator highlights SOL’s positive posture. Early trading hours saw SOL momentarily dip the middle band, suggesting a minor stop before maybe picking back on its ascent towards the $174 resistance level. This positive view is supported by the Moving Average Convergence Divergence (MACD) indicator, which shows a significant crossover whereby the MACD line stayed regularly above the signal line for a long time. Related Reading: $50 Injection? Analyst Bullish On Injective After 25% Surge Green bars on the MACD histogram are also intensifying concurrently, indicating strong purchasing pressure and supporting SOL’s upward trend. The stochastic RSI indicator, meantime, has often shown overbought conditions—many peaks over 80—reflecting consistent demand and investor optimism in SOL’s future. With technical signs and market mood supporting more increases, Solana’s explosive ascent towards the $174 goal marks a turning moment for the altcoin. Featured image from Getty Images, chart from TradingView

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