Perhaps one of the biggest stars of the 2021 bull run in cryptocurrencies From Solana (SOL) was no other. Solana, which rose to $ 260 in just 1.5 years after the start of operations in 2020, then completely collapsed due to unexpected events. The collapse of the FTX exchange, which is considered one of the biggest forces behind SOL, in November 2022 caused SOL to fall to single-digit price levels at the beginning of 2023, which is exactly where the whole incident started.
Analysts’ Comment on Solana
After the periodic bottom level seen at the beginning of 2023, while comments were being made in the entire market that SOL might be over, the situation was completely reversed and an incredible recovery began. After the recovery, the price returned to over $200 again in just 1 year and left the entire market in astonishment. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
At this point, two different analysts made statements based on bullish expectations for SOL, which has been seen to have fallen to the level of $132 due to the general decline in the market. First, one of the well-known names in the market, Ali Martinez Looking at the statement made today, according to SOL’s TD sequential indicator, we may be on the verge of a recovery.
Martinez’s statement was as follows:
The TD Sequential indicator #Solana has issued a buy signal on the daily chart of $SOL, suggesting a potential recovery in a one to four-day candlestick pattern.
It is known that the TD sequential indicator generally examines the 9-day candle process, and in the visual shared by Martinez, a bullish candle was seen to have formed.
Secondly, another well-known name in the market To The Moon when we return Solana’s He stated that a local double bottom had been formed and that it could currently be in a reversal phase depending on the horizontal channel.
Moon drew attention with his post in which he predicted an increase, indicating $135, $148.5 and finally $161 as targets.
How Many Dollars is Solana?
Although the Solana price has increased by over 4% today and moved to the $134 level, the price movement in the last 7 days indicates a decrease of 8.24%. This decrease can be interpreted as a reflection of the general trend of the market.
In recent months, especially due to the influence of the meme coin craze, the SOL price has been seen to host visible increases above the market.
The Left The market volume increased to $62.2 billion due to the price movement and this price movement positioned it as the 5th in the market. Despite the price increase, the transaction volume decreased by 17% and as a result, it decreased to $2 billion. Although the analysts’ estimates include an expectation of increase, it should not be forgotten that the general conditions of the market should be taken into consideration.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
