{"id":661240,"date":"2024-12-12T11:30:51","date_gmt":"2024-12-12T11:30:51","guid":{"rendered":"https:\/\/wncen.com\/?p=661240"},"modified":"2024-12-12T07:06:01","modified_gmt":"2024-12-12T07:06:01","slug":"solana-set-for-explosive-growth-expert-predicts-1650-price-increase-based-on-this-pattern","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-set-for-explosive-growth-expert-predicts-1650-price-increase-based-on-this-pattern\/","title":{"rendered":"Solana Set For Explosive Growth: Expert Predicts 1650% Price Increase Based On This Pattern"},"content":{"rendered":"

As the broader crypto market rebounds following Donald Trump’s election on 5 November, Solana (SOL), currently the sixth largest token by market capitalization, has resumed its bullish trajectory, recently reclaiming the $230 price level.<\/p>\n

On Wednesday, the Solana price surged nearly 7%, reaching $232 after a two-week correction period that followed its current all-time high achievement of $263 on November 23.<\/span><\/p>\n

Could The Solana Price Soar To $4,000?<\/span><\/h2>\n

The recent price action suggests that Solana may be on track to not only retest its previous peak but potentially exceed it significantly.\u00a0<\/span><\/p>\n

Crypto analyst Ali Martinez highlighted a bullish “cup and handle” pattern forming on Solana’s one-month chart, <\/span>indicating <\/span><\/a>the potential for a remarkable uptrend.\u00a0<\/span><\/p>\n

Martinez forecasts that if this pattern plays out, Solana could see gains exceeding 1,650%, resulting in a new record price of $4,000 per token.<\/span><\/p>\n

Related Reading: XRP Price Defies Bearish Crypto Trend, Rallies 6%: Key Drivers Revealed<\/a><\/div>\n

However, perspectives among analysts vary regarding the future trajectory of Solana. While some, like Cryptorangutan, <\/span>emphasize <\/span><\/a>the current momentum indicators and established buying pressure, predicting a surge toward the $300 mark, others urge caution.\u00a0<\/span><\/p>\n

Analyst MoreCryptoonl on the other hand, <\/span>points out<\/span><\/a> a completed pullback structure, indicating a clear five-wave move downward. This analysis suggests that while the recovery rally is underway, it remains uncertain whether it will develop into a bullish pattern or an ABC corrective structure.<\/span><\/p>\n

\"Solana\"
SOL’s price scenarios in which could surge toward $300 or retrace to $160. Source: MoreCryptoonl on X<\/a><\/figcaption><\/figure>\n

Total Value Locked Hits $9.198 Billion<\/span><\/h2>\n

Despite the mixed technical signals, key financial metrics paint a largely positive picture for Solana. <\/span>According <\/span><\/a>to CoinMarketCap, the market capitalization stands at approximately $112.73 billion, positioning Solana as the sixth-largest cryptocurrency.\u00a0<\/span><\/p>\n

Additionally, its Total Value Locked (TVL) has reached $9.198 billion, reflecting continued interest in its decentralized finance (DeFi) ecosystem. However, decentralized exchange (DEX) volumes have fallen by 25% to $28 billion, indicating some volatility in trading activity.<\/span><\/p>\n

The narrative surrounding Solana has been further fueled by recent developments in the market. Grayscale’s <\/span>filing <\/span><\/a>for a spot Solana ETF in the US has generated buzz, as the cryptocurrency community anticipates the potential for increased institutional investment.\u00a0<\/span><\/p>\n

Additionally, the project Jupiter has revised its $1.6 billion airdrop after a failed vote, while the platform Pump.fun reported record <\/span>revenue <\/span><\/a>of $93 million for November, despite experiencing a 66% weekly drop.<\/span><\/p>\n

Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here\u2019s What Happened Last Time<\/a><\/div>\n

In the DeFi landscape, Solana has slipped to third place as Tron\u2019s TVL surged 78% to $13 billion, yet it maintains a strong lead with 5.56 million active addresses.\u00a0<\/span><\/p>\n

However, the recent decline in DEX revenue and <\/span>volume<\/span><\/a>, particularly with Raydium experiencing an 8.22% drop, indicates a need for stability in trading activities within the ecosystem.<\/span><\/p>\n

\"Solana\"
The daily chart shows SOL’s price recovery. Source: SOLUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from DALL-E, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

As the broader crypto market rebounds following Donald Trump’s election on 5 November, Solana (SOL), currently the sixth largest token by market capitalization, has resumed its bullish trajectory, recently reclaiming the $230 price level. On Wednesday, the Solana price surged nearly 7%, reaching $232 after a two-week correction period that followed its current all-time high achievement of $263 on November 23. Could The Solana Price Soar To $4,000? The recent price action suggests that Solana may be on track to not only retest its previous peak but potentially exceed it significantly.\u00a0 Crypto analyst Ali Martinez highlighted a bullish “cup and handle” pattern forming on Solana’s one-month chart, indicating the potential for a remarkable uptrend.\u00a0 Martinez forecasts that if this pattern plays out, Solana could see gains exceeding 1,650%, resulting in a new record price of $4,000 per token. Related Reading: XRP Price Defies Bearish Crypto Trend, Rallies 6%: Key Drivers Revealed However, perspectives among analysts vary regarding the future trajectory of Solana. While some, like Cryptorangutan, emphasize the current momentum indicators and established buying pressure, predicting a surge toward the $300 mark, others urge caution.\u00a0 Analyst MoreCryptoonl on the other hand, points out a completed pullback structure, indicating a clear five-wave move downward. This analysis suggests that while the recovery rally is underway, it remains uncertain whether it will develop into a bullish pattern or an ABC corrective structure. Total Value Locked Hits $9.198 Billion Despite the mixed technical signals, key financial metrics paint a largely positive picture for Solana. According to CoinMarketCap, the market capitalization stands at approximately $112.73 billion, positioning Solana as the sixth-largest cryptocurrency.\u00a0 Additionally, its Total Value Locked (TVL) has reached $9.198 billion, reflecting continued interest in its decentralized finance (DeFi) ecosystem. However, decentralized exchange (DEX) volumes have fallen by 25% to $28 billion, indicating some volatility in trading activity. The narrative surrounding Solana has been further fueled by recent developments in the market. Grayscale’s filing for a spot Solana ETF in the US has generated buzz, as the cryptocurrency community anticipates the potential for increased institutional investment.\u00a0 Additionally, the project Jupiter has revised its $1.6 billion airdrop after a failed vote, while the platform Pump.fun reported record revenue of $93 million for November, despite experiencing a 66% weekly drop. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here\u2019s What Happened Last Time In the DeFi landscape, Solana has slipped to third place as Tron\u2019s TVL surged 78% to $13 billion, yet it maintains a strong lead with 5.56 million active addresses.\u00a0 However, the recent decline in DEX revenue and volume, particularly with Raydium experiencing an 8.22% drop, indicates a need for stability in trading activities within the ecosystem. Featured image from DALL-E, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":626745,"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":[6664,26263,14690,83626,86515,89405,85361,90228,91344,93323],"class_list":["post-661240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-solana","tag-solana-sol","tag-solana-news","tag-solana-price","tag-solana-price-analysis","tag-solana-price-forecast","tag-solana-price-prediction-2025"],"acf":[],"yoast_head":"\nSolana Set For Explosive Growth: Expert Predicts 1650% Price Increase Based On This Pattern<\/title>\n<meta name=\"description\" content=\"As the broader market recovers, Solana (SOL) has regained its bullish trajectory, recently 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Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. 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