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- One analyst believes Solana is poised for a surge to $500; its next resistance at $174 and then $202, and if it breaks past these, a new all-time high could be on the cards.
- The analyst says that Bitcoin will slow down after hitting its new all-time high and could dip to $62,000 in the short term, but it will shoot up again to $100,000.
Solana has been one of the star performers of the bull run that started in the fourth quarter of 2023, and according to one analyst, SOL still has heights to scale.
SOL trades at $149.11 at press time, gaining just below 1% in the past day and over 13% in the past week, which started at $131.
SOL trading volume has recovered after the expected weekend dip, gaining around 60% to hit $4.63 billion, the sixth highest in the market, as Solana maintains its position as a mainstay in the top ten cryptos.
According to pseudonymous analysts Altcoin Sherpa, SOL is set to keep rising and will surge past its all-time high, which it set in Nov 2021. As the graph below shows, SOL has rebounded after its massacre in 2022 and is now surging towards its all-time high.
The analyst tells his 210,000 X followers that SOL’s next resistance levels are $174 and $202; if it surges past these, its next stop could be over $500. He stated:
SOL: This will cleanly break all time highs this cycle, the only question is how high. $500 is probable, something obscene like $1,000 isn’t out of the question in my opinion.
Unlike in previous markets, SOL is surging alongside Solana ecosystem tokens like Bonk and DogWifhat, two meme coins that are setting the pace for the broader market, as Crypto News Flash reported. Other ecosystem projects are also thriving, from DeFi, where the TVL continues to grow, to NFTs, where Solana now only ranks behind Bitcoin and market leader Ethereum for daily sales.
Bitcoin to $100,000
On Bitcoin, Altcoin Sherpa believes the top crypto is headed to six figures in the medium term. However, there will be volatility before then, and it could dip by $10,000.
BTC hit a new all-time high today at $ 71,564, breezing past its 2021 high as the market opened the new week on high momentum. It has since retraced slightly, trading at press time at $71,225.
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Over the past day, over $48 billion worth of BTC changed hands, with the volume shooting up 84% in one day as traders jumped in to trade the new high.
According to Altcoin Sherpa, traders must prepare for a highly volatile market in the medium term before BTC finds its legs again and hits six figures for the first time ever. He told his followers:
There is going to be a shitload of volatility here in the coming hours/days. Do not lose sight of the goal, though: Bitcoin is going to go to 100k+ this cycle and these short movements are a blip on the radar. Don’t lose your stack when we’re so close to the finish line.
