Crypto Analyst Projects Solana To Rally, Eyes $500 Target By End Of This Year: 'Still Bullish As Hell'
Portfolio Pulse from Mehab Qureshi
Crypto analyst Altcoin Sherpa projects Solana (SOL) could reach $500 by the end of the year, despite expecting a pullback in the $200-$250 range. Another analyst, Ali Martinez, supports a bullish outlook for SOL, noting the invalidation of a TD sell signal on its daily chart, which historically precedes significant rallies. Currently, SOL is trading at $166, down 9.71% in the last 24 hours.
March 20, 2024 | 11:00 am
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POSITIVE IMPACT
Solana (SOL) is projected to potentially double in value by the end of the year, with a short-term pullback expected in the $200-$250 range. The invalidation of a TD sell signal suggests a bullish outlook.
The optimistic projections by Altcoin Sherpa and the technical analysis by Ali Martinez, indicating the invalidation of a TD sell signal, suggest a strong bullish sentiment for Solana. However, the current price dip and the expected short-term pullback introduce some uncertainty, hence the confidence score is not at the maximum.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100