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- Crypto analyst Ali Martinez predicts a 900% and 44% surge for Solana and Dogecoin respectively as Bitcoin rebounds to $65,200.
- A potential combined ETF for Bitcoin, Ethereum, and Solana could cause a market frenzy leading to a bull run.
A prominent crypto analyst has risen to the occasion as he shared a bold bullish prediction for Solana. Ali Martinez has predicted Solana could witness a potential 900% surge propelling its price to a staggering $1,600 by early 2025. This bullish prediction comes after Solana’s recent break out of a bullish pennant formation. The aforementioned technical pattern is often associated with significant price surges.
Solana Poised for a Major Price Surge
Sharing his prediction to his more than 68k followers on X, Martinez stated that “Solana has officially broken out from this bull pennant, suggesting a potential 900% rally ahead,”
According to the analyst charts, Solana is poised for a potential price breakout by the end of summer followed by a significant price surge eventually attaining the $1600 mark. At the time of writing, Solana is swapping hands at $177.28 marking a 4.41% surge in the last 24 hours.
Solana’s recent price surge has drawn massive attention to the smart contract blockchain. This, including Ali Martinez’s prediction, has cemented Solana’s position as an Ethereum competitor.
Could a Combined Spot ETF for Bitcoin, Ethereum, and Solana Lead to a New Bull Run?
A recent development left the crypto community abuzz after Nate Gerace, head of The ETF Store shared an exciting ETF prediction. According to Nate, the cryptocurrency landscape is ripe for a combined ETF. With a Bitcoin spot ETF already underway and Ethereum’s recent approval, the tidal barriers for ETFs are now open.
Particularly, Solana is a viable candidate with the token attracting institutional giants like VanEck who have already filed for a Solana ETF.
A potential approval of a combined ETF could cause a frenzy in the cryptocurrency space. Having witnessed Bitcoin soar to $74,000, a similar action is expected from both Ethereum and Solana. With such a scenario, not only the mentioned assets will experience price surges but a broader impact will mean a potential bull run.
Even though Solana being the proverbial “Ethereum Killer” could complicate matters, the fact remains that crypto ETFs will cater to diversified investors seeking exposure by traditional market methods.
Taking a focus on Solana, some experts believe the altcoin can reach as high as $1,000 once its ETF is approved.
Martinez Predicts Bitcoin Could Surge to $65,200
According to Ali Martinez, “BTC could rebound to $65,200 to liquidate $42.16 million in short positions!” Bitcoin, the largest cryptocurrency by market cap, is at the time of writing, exchanging hands with $67,183.40 marking a 5.00% surge in the past week.
No coins selectedTurning to Dogecoin, Martinez expressed unwavering confidence in the meme coin. According to the analyst, DOGE is poised for a 44% price surge. At the time of writing, DOGE is exchanging hands at $0.1299 marking a 4.01% surge in the last 24 hours.
“I haven’t sold one single DOGE. I’ve just been buying! Dogecoin is playing the same pattern we’ve seen before. It consolidates in a descending triangle, sees a 140% to 230% rally, and retraces by 56% to 60% before entering a bull run. So now we just wait!!!” Martinez explained.
