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Portfolio Pulse from Mehab Qureshi
Crypto analyst Bluntz predicts that Solana (SOL) is poised for a significant breakout against Bitcoin (BTC) and in its U.S. dollar pair. Bluntz expects SOL to experience a sharp increase in price once it breaks out of its 37-day range. Another analyst, Deftsuo, also provides a bullish outlook, suggesting SOL could reach $100 if it breaks through the $80 resistance level. The search volume for 'Solana' has surged by 250% over the past two months, indicating growing interest.
December 20, 2023 | 1:00 pm
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POSITIVE IMPACT
Solana (SOL) is expected to break out against Bitcoin (BTC) and see significant rallies in its U.S. dollar pair, according to crypto analysts Bluntz and Deftsuo.
The positive sentiment from analysts Bluntz and Deftsuo, combined with the increased search interest in Solana, suggests a strong bullish outlook for SOL in the short term. The technical analysis provided by the analysts indicates a potential breakout above $80, which could lead to a rapid price increase towards $100, thus likely to positively impact the price of SOL-USD.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Solana's expected breakout is predicted to occur against Bitcoin (BTC), which may indicate a relative performance change between the two cryptocurrencies.
While the news is primarily focused on Solana, Bitcoin is used as a benchmark for Solana's performance. The predicted breakout of SOL against BTC does not necessarily imply a negative impact on Bitcoin's price, but rather highlights the potential for Solana to gain relative value against Bitcoin in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50