Ethereum
‘Ethereum Killer’ Solana Could Surge To $174, Says Popular Crypto Analyst After Identifying This Bullish Pattern
‘Ethereum Killer’ Solana Could Surge To $174, Says Popular Crypto Analyst After Identifying This Bullish Pattern
Influential Cryptocurrency Analyst Ali Martinez predicts a bull run for Solana (CRYPTO: GROUND), often presented as a “Ethereum (CRYPTO: ETH) killer,” amid growing market optimism around the digital asset.
What happened:On Monday, Martinez posted his bullish forecast for Solana on X, formerly Twitter. He noted the formation of a “W” pattern in Solana’s chart, prompting him to predict a rise to $174.
Also called a double bottom pattern in technical analysis, the “W” pattern typically occurs at the end of an extended downtrend and signals a bullish reversal.
SOL was last seen at around $174 over six weeks ago in May. If Martinez’s forecast holds true, that would mean a 13% rebound from its current price.
See also: Want to trade futures? Find out why 25 million people choose this Chicago Bulls sponsor.
Why is this important?:Solana Market Sentiment Bullish has been supported by renowned analysts in the cryptocurrency field. Syncracy Capital Daniel Cheung predicts that the coin could reach 50% of Ethereum (CRYPTO: ETH) market assessment, while another trader, Eugene Ng Ah Sio, Express confidence that it would become the market favorite.
Earlier, Van Eck And 21 Shares filed S-1 registration forms with the SEC for a Solana ETF, marking a significant step toward opening the world’s third-largest speculative cryptocurrency to mainstream investors.
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This item ‘Ethereum Killer’ Solana Could Surge To $174, Says Popular Crypto Analyst After Identifying This Bullish Pattern originally appeared on Benzinga.com
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