{"id":603055,"date":"2024-04-13T16:30:29","date_gmt":"2024-04-13T16:30:29","guid":{"rendered":"https:\/\/wncen.com\/?p=603055"},"modified":"2024-04-13T10:10:43","modified_gmt":"2024-04-13T10:10:43","slug":"market-expert-reveals-why-solana-price-is-poised-to-go-higher","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/market-expert-reveals-why-solana-price-is-poised-to-go-higher\/","title":{"rendered":"Market Expert Reveals Why Solana Price Is Poised To Go Higher"},"content":{"rendered":"

A cryptocurrency analyst, who accurately foresaw the market\u2019s bottom in 2018, is now focusing on <\/span>Solana<\/span><\/a>, foreseeing a <\/span>price bottom<\/span><\/a> for the cryptocurrency and identifying its next target after reaching it.\u00a0<\/span><\/p>\n

Solana To Rise Above $200 After Hitting This Bottom<\/b><\/h2>\n

In a Wednesday X (formerly Twitter) post, a crypto analyst identified as \u2018Bluntz\u2019 has <\/span>highlighted <\/span><\/a>a potential price bottom for Solana. Following up on the previous <\/span>forecast<\/span><\/a> on April 4, where he predicted that Solana would hit a bottom at or below $160 before <\/span>pushing back up<\/span><\/a>, Bluntz revealed in his new post that the next price bottom would be $162.\u00a0<\/span><\/p>\n

Related Reading: XRP To Blast Off? Analyst Predicts \u2018Realistic\u2019 5x Surge To $3<\/a><\/div>\n

The crypto analyst anticipates that Solana\u2019s price will hit a bottom at $162 before it begins to move higher, suggesting a possible bullish rebound for the cryptocurrency. Sharing several price charts illustrating <\/span>Solana\u2019s price movements<\/span><\/a> between March and April 2024, Bluntz uses the Elliot wave theory as a <\/span>technical pattern<\/span><\/a> to guide his predictions.<\/span><\/p>\n

The Elliott wave theory<\/span><\/a> is a unique form of technical analysis which predicts price movements by observing and identifying recurrent long-term price patterns related to persistent changes in investor sentiment and psychology.\u00a0\u00a0<\/span><\/p>\n

In his earlier post, Bluntz shared a price chart which indicated that <\/span>Solana\u2019s next leg up<\/span><\/a> after hitting the predicted price bottom would be $224. He estimated the timeline for this significant surge, predicting that the cryptocurrency could jump to $224 before April 22.\u00a0<\/span><\/p>\n

<\/p>\n

Solana is now trading at $151. Chart: TradingView<\/a><\/pre>\n
Price Update On Solana (SOL)<\/b><\/h2>\n
Lately, the <\/span>price of Solana<\/span><\/a> has been on a major downward trend, recording double-digit losses for the past few weeks. At the time of writing the cryptocurrency is trading at a price of $151.15, marking a 12.32% decrease in the last 24 hours and a 13.93% drop in the past week, according to CoinMarketCap.\u00a0<\/span><\/p>\n
This continuous decline has been attributed to the <\/span>congestion issues Solana\u2019s network currently faces<\/span><\/a>. Earlier in April, Solana had fallen victim to a network outage, resulting in about 75% of transactions on the network failing. This caused a major disruption in the blockchain\u2019s operations, raising concerns among <\/span>investors<\/span><\/a> and the broader crypto community.\u00a0<\/span><\/p>\n
Following the blackout, the price of Solana <\/span>plummeted<\/span><\/a> significantly and has continued on a downward trend. Despite <\/span>scheduling April 15 for a network resolution<\/span><\/a>, the cryptocurrency\u2019s value has not shown any positive response.\u00a0<\/span><\/p>\n
Related Reading: Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears<\/a><\/div>\n
It\u2019s also important to note that Solana\u2019s current price has dropped way below the previously stipulated bottom of $162 predicted by Bluntz. The possibility of a <\/span>bullish rebound<\/span><\/a> for the cryptocurrency remains uncertain, as more doubts have been raised concerning the network\u2019s ability to handle significant transaction volumes.\u00a0<\/span><\/p>\n
Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
A cryptocurrency analyst, who accurately foresaw the market\u2019s bottom in 2018, is now focusing on Solana, foreseeing a price bottom for the cryptocurrency and identifying its next target after reaching it.\u00a0 Solana To Rise Above $200 After Hitting This Bottom In a Wednesday X (formerly Twitter) post, a crypto analyst identified as \u2018Bluntz\u2019 has highlighted a potential price bottom for Solana. Following up on the previous forecast on April 4, where he predicted that Solana would hit a bottom at or below $160 before pushing back up, Bluntz revealed in his new post that the next price bottom would be $162.\u00a0 Related Reading: XRP To Blast Off? Analyst Predicts \u2018Realistic\u2019 5x Surge To $3 The crypto analyst anticipates that Solana\u2019s price will hit a bottom at $162 before it begins to move higher, suggesting a possible bullish rebound for the cryptocurrency. Sharing several price charts illustrating Solana\u2019s price movements between March and April 2024, Bluntz uses the Elliot wave theory as a technical pattern to guide his predictions. The Elliott wave theory is a unique form of technical analysis which predicts price movements by observing and identifying recurrent long-term price patterns related to persistent changes in investor sentiment and psychology.\u00a0\u00a0 In his earlier post, Bluntz shared a price chart which indicated that Solana\u2019s next leg up after hitting the predicted price bottom would be $224. He estimated the timeline for this significant surge, predicting that the cryptocurrency could jump to $224 before April 22.\u00a0 Solana is now trading at $151. Chart: TradingView Price Update On Solana (SOL) Lately, the price of Solana has been on a major downward trend, recording double-digit losses for the past few weeks. At the time of writing the cryptocurrency is trading at a price of $151.15, marking a 12.32% decrease in the last 24 hours and a 13.93% drop in the past week, according to CoinMarketCap.\u00a0 This continuous decline has been attributed to the congestion issues Solana\u2019s network currently faces. Earlier in April, Solana had fallen victim to a network outage, resulting in about 75% of transactions on the network failing. This caused a major disruption in the blockchain\u2019s operations, raising concerns among investors and the broader crypto community.\u00a0 Following the blackout, the price of Solana plummeted significantly and has continued on a downward trend. Despite scheduling April 15 for a network resolution, the cryptocurrency\u2019s value has not shown any positive response.\u00a0 Related Reading: Uniswap Bloodbath: UNI Price Crashes 16% On SEC Lawsuit Fears It\u2019s also important to note that Solana\u2019s current price has dropped way below the previously stipulated bottom of $162 predicted by Bluntz. The possibility of a bullish rebound for the cryptocurrency remains uncertain, as more doubts have been raised concerning the network\u2019s ability to handle significant transaction volumes.\u00a0 Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":603057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[134,4735,3505,12837,83626],"class_list":["post-603055","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-altcoin","tag-price-action","tag-price-analysis","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nMarket Expert Reveals Why Solana Price Is Poised To Go Higher<\/title>\n<meta name=\"description\" content=\"A cryptocurrency analyst, who accurately foresaw the market\u2019s bottom in 2018, is now 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Market Expert Reveals Why Solana Price Is Poised To Go Higher","url":"http:\/\/wncen.com\/news\/solana\/market-expert-reveals-why-solana-price-is-poised-to-go-higher\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana\/market-expert-reveals-why-solana-price-is-poised-to-go-higher\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_f3d6a9.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_f3d6a9.jpg?fit=5184%2C3888"},"articleSection":"Solana","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","price action","price analysis","sol","solana"],"dateCreated":"2024-04-13T16:30:29Z","datePublished":"2024-04-13T16:30:29Z","dateModified":"2024-04-13T16:30:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Market Expert Reveals Why Solana Price Is Poised To Go Higher\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/market-expert-reveals-why-solana-price-is-poised-to-go-higher\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/market-expert-reveals-why-solana-price-is-poised-to-go-higher\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_f3d6a9.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/a_f3d6a9.jpg?fit=5184%2C3888\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"price action\",\"price analysis\",\"sol\",\"solana\"],\"dateCreated\":\"2024-04-13T16:30:29Z\",\"datePublished\":\"2024-04-13T16:30:29Z\",\"dateModified\":\"2024-04-13T16:30:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_f3d6a9.jpg?fit=5184%2C3888","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/603055"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=603055"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/603055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/603057"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=603055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=603055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=603055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}