Solana sets sights on reaching 1000 as an attainable goal this cycle

Solana (SOL) has been experiencing a downturn along with the rest of the cryptocurrency market lately, but a well-known crypto analyst believes that its price could soar to $1,000 and beyond in the coming months.

According to Trader Tardigrade, a popular pseudonymous crypto trading expert, Solana is showing a “cup with handle” chart pattern, indicating a bullish trend that could easily push its price to the $1,000 mark in the current cycle. The analysis suggests that Solana, currently the fifth-largest cryptocurrency by market capitalization, could start its upward trajectory in late summer and potentially reach the impressive $1,000 target by late 2025.

As of June 14, Solana is trading at $148.17, with a slight decline of 1.97% in the past 24 hours and a 13.95% drop over the last seven days. Despite this, it has still managed to maintain a 2.18% gain on its monthly chart. Another crypto specialist, Ali Martinez, has also expressed optimism about Solana’s future performance, highlighting a triangle formation with key support at $143 and resistance at $178, suggesting a potential breakout.

Martinez’s analysis points to a bullish bias towards a resistance breakout, with a prediction of a 53% surge in Solana’s price. This positive sentiment towards altcoins and the overall market outlook could further boost Solana’s price in the near future.

In light of these developments, investors may want to consider accumulating Solana at its current price before it potentially surges. However, it is important to conduct thorough research and exercise caution, as the cryptocurrency market can be unpredictable. Remember that investing always carries risks, and it’s essential to make informed decisions.