{"id":575861,"date":"2024-02-19T21:00:17","date_gmt":"2024-02-19T21:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=575861"},"modified":"2024-02-19T15:02:48","modified_gmt":"2024-02-19T15:02:48","slug":"sol-prediction-analyst-bullish-on-solana-time-to-buy","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/sol-prediction-analyst-bullish-on-solana-time-to-buy\/","title":{"rendered":"SOL Prediction: Analyst Bullish On Solana, Time To Buy?"},"content":{"rendered":"<p style=\"font-weight: 400\">Recently, renowned crypto analyst Altcoin Sherpa gave his positive outlook on Solana (SOL) in an X (former Twitter) post. The analyst reviewed the token\u2019s recent behavior and shared his predictions for SOL\u2019s performance.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/sol-price-surges-to-115\/\" target=\"_blank\" rel=\"noopener \">SOL Price Surges To $115 \u2013 Why Solana Could Rally Another 10%<\/a><\/div>\n<h2 style=\"font-weight: 400\">Wait For The 20% Dip Or Buy Now?<\/h2>\n<p style=\"font-weight: 400\">In the X post, the pseudonym analyst suggested that the fifth cryptocurrency by market capitalization may see a bright 2024, surpassing the heights reached at the end of last year.<\/p>\n<p style=\"font-weight: 400\">The chart displays SOL\u2019s recent behavior, starting in late December 2023 when the cryptocurrency reached its highest price since early 2022. Based on the recent <a href=\"https:\/\/wncen.com\/news\/solana-tvl-nears-2-billion-will-sol-cruise-to-120-before-valentines\/\" target=\"_blank\" rel=\"noopener \">performance<\/a> shown in the chart, the analyst expects SOL\u2019s price to break above the key resistance levels. However, he predicts a price pullback and market selling during the highs of the price.<\/p>\n<p style=\"font-weight: 400\">As the prediction shows, SOL\u2019s price would surpass the $120 price range before facing a pullback. Then, the pattern would repeat itself, and the cryptocurrency\u2019s price would reach the price level <a href=\"https:\/\/wncen.com\/news\/solana\/solana-sol-price-to-200\/\" target=\"_blank\" rel=\"noopener \">established<\/a> in December.\u00a0Following this uprise, the token\u2019s price would face a small price correction before breaking above the $126 price range.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SOL<\/a>: It&#39;s a bizarre chart seeing this grind up slowly. I expect some sort of selling to happen around the highs given the length of time spent in between each peak but the entire market is still up only right now. I think that expecting any huge correction for <a href=\"https:\/\/twitter.com\/hashtag\/Solana?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Solana<\/a>  is meh\u2026 <a href=\"https:\/\/t.co\/8VnHcJ4bNX\" rel=\"nofollow\">pic.twitter.com\/8VnHcJ4bNX<\/a><\/p>\n<p>&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href=\"https:\/\/twitter.com\/AltcoinSherpa\/status\/03730520?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 18, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"font-weight: 400\">Despite the small corrections seen in the prediction, the pseudonym analyst doesn\u2019t forecast a huge correction happening soon and considers that expecting one is \u201cmeh for now.\u201d<\/p>\n<p style=\"font-weight: 400\">Further expressing his view on the possibility of a big price correction, the analyst agreed with a member of the crypto community. The X user <a href=\"https:\/\/twitter.com\/PermaBull2024\/status\/91581948\" target=\"_blank\" rel=\"noopener nofollow\">highlighted<\/a> that Solana \u201cjust came off a 35% drawdown from 125 to 80\u201d and suggested that \u201cby the time the next big correction comes, [the price] will be much higher than it is now.\u201d<\/p>\n<p style=\"font-weight: 400\">To the analyst, it seems more appropriate to buy SOL now and sit on it for the coming months instead of trying to wait for a 20% correction before buying:<\/p>\n<blockquote>\n<p style=\"font-weight: 400\">Bullish on this one bigly going into 2024 and I think most would make more $ just buying here and sitting on this thing for months instead of trying to wait for the 20% correction.<\/p>\n<\/blockquote>\n<h2 style=\"font-weight: 400\">Solana (SOL) Sees Green<\/h2>\n<p style=\"font-weight: 400\">The month of February has been filled with ups and downs for Solana. At the beginning of the month, Solana\u2019s DeFi ecosystem <a href=\"https:\/\/wncen.com\/news\/solana\/solana-dexs-outperform-ethereum-in-key-metric-heres-what-this-means\/\" target=\"_blank\" rel=\"noopener \">reached an important milestone<\/a> after the Solana-based decentralized exchanges (DEXs) surpassed Ethereum\u2019s daily trading volume for the second time.<\/p>\n<p style=\"font-weight: 400\">However, the blockchain saw its 11<sup>th<\/sup> outage in 2 years just a week after its DeFi ecosystem\u2019s achievement, with the chain being down for almost five hours. Despite crypto investors\u2019 concerns about the outage, Solana\u2019s price rapidly recovered from the price drop.<\/p>\n<p style=\"font-weight: 400\">SOL recently <a href=\"https:\/\/twitter.com\/inmortalcrypto\/status\/27768344\" target=\"_blank\" rel=\"noopener nofollow\">became<\/a> the fourth-largest cryptocurrency by market capitalization after surpassing BNB on February 14; since then, Solana has gone back to the fifth spot, with its market capitalization sitting at $49.7 billion, an impressive 19.34% increase in the last month.<\/p>\n<p style=\"font-weight: 400\">Solana\u2019s trading volume in the last day has decreased by 9.20%. According to CoinGecko data, it sits at $1.5 billion, suggesting a recent fall in market activity.<\/p>\n<p style=\"font-weight: 400\">At writing time, the crypto market is seeing green, and Solana\u2019s cryptocurrency is not the exception. SOL is trading at $112.4, accounting for a 1.0% price surge in the last 24 hours and a notable 7.8% increase in the past week.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/solana-surges-open-interest-hits-1-75-billion-price-up-8-today\/\" target=\"_blank\" rel=\"noopener \">Solana Surges: Open Interest Hits $1.75 Billion, Price Up 8% Today<\/a><\/div>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-575862 aligncenter\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?resize=1023%2C518\" alt=\"SOL, SOLUSDT, Solana\" width=\"1023\" height=\"518\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?w=1023 1023w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/ENv59RPJ.png?w=750 750w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">SOL is trading at $112.90 in the hourly chart. Source: SOLUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/ENv59RPJ\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recently, renowned crypto analyst Altcoin Sherpa gave his positive outlook on Solana (SOL) in an X (former Twitter) post. The analyst reviewed the token\u2019s recent behavior and shared his predictions for SOL\u2019s performance. Related Reading: SOL Price Surges To $115 \u2013 Why Solana Could Rally Another 10% Wait For The 20% Dip Or Buy Now? In the X post, the pseudonym analyst suggested that the fifth cryptocurrency by market capitalization may see a bright 2024, surpassing the heights reached at the end of last year. The chart displays SOL\u2019s recent behavior, starting in late December 2023 when the cryptocurrency reached its highest price since early 2022. Based on the recent performance shown in the chart, the analyst expects SOL\u2019s price to break above the key resistance levels. However, he predicts a price pullback and market selling during the highs of the price. As the prediction shows, SOL\u2019s price would surpass the $120 price range before facing a pullback. Then, the pattern would repeat itself, and the cryptocurrency\u2019s price would reach the price level established in December.\u00a0Following this uprise, the token\u2019s price would face a small price correction before breaking above the $126 price range. $SOL: It&#39;s a bizarre chart seeing this grind up slowly. I expect some sort of selling to happen around the highs given the length of time spent in between each peak but the entire market is still up only right now. I think that expecting any huge correction for #Solana is meh\u2026 pic.twitter.com\/8VnHcJ4bNX &mdash; Altcoin Sherpa (@AltcoinSherpa) February 18, 2024 Despite the small corrections seen in the prediction, the pseudonym analyst doesn\u2019t forecast a huge correction happening soon and considers that expecting one is \u201cmeh for now.\u201d Further expressing his view on the possibility of a big price correction, the analyst agreed with a member of the crypto community. The X user highlighted that Solana \u201cjust came off a 35% drawdown from 125 to 80\u201d and suggested that \u201cby the time the next big correction comes, [the price] will be much higher than it is now.\u201d To the analyst, it seems more appropriate to buy SOL now and sit on it for the coming months instead of trying to wait for a 20% correction before buying: Bullish on this one bigly going into 2024 and I think most would make more $ just buying here and sitting on this thing for months instead of trying to wait for the 20% correction. Solana (SOL) Sees Green The month of February has been filled with ups and downs for Solana. At the beginning of the month, Solana\u2019s DeFi ecosystem reached an important milestone after the Solana-based decentralized exchanges (DEXs) surpassed Ethereum\u2019s daily trading volume for the second time. However, the blockchain saw its 11th outage in 2 years just a week after its DeFi ecosystem\u2019s achievement, with the chain being down for almost five hours. Despite crypto investors\u2019 concerns about the outage, Solana\u2019s price rapidly recovered from the price drop. SOL recently became the fourth-largest cryptocurrency by market capitalization after surpassing BNB on February 14; since then, Solana has gone back to the fifth spot, with its market capitalization sitting at $49.7 billion, an impressive 19.34% increase in the last month. Solana\u2019s trading volume in the last day has decreased by 9.20%. According to CoinGecko data, it sits at $1.5 billion, suggesting a recent fall in market activity. At writing time, the crypto market is seeing green, and Solana\u2019s cryptocurrency is not the exception. SOL is trading at $112.4, accounting for a 1.0% price surge in the last 24 hours and a notable 7.8% increase in the past week. Related Reading: Solana Surges: Open Interest Hits $1.75 Billion, Price Up 8% Today SOL is trading at $112.90 in the hourly chart. Source: SOLUSDT on TradingView.com Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":573697,"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":[26263,12837,83626,85361,89753,83627],"class_list":["post-575861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-crypto-analyst","tag-sol","tag-solana","tag-solana-price","tag-solana-price-prediction","tag-solusdt"],"acf":[],"yoast_head":"\n<title>Solana Prediction: Analyst Bullish On SOL, Time To Buy?<\/title>\n<meta name=\"description\" content=\"An analyst predicts Solana performance for 2024 and suggest whether to buy SOL now or wait for the price to drop.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/wncen.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Solana Prediction: Analyst Bullish On SOL, Time To Buy?","description":"An analyst predicts Solana performance for 2024 and suggest whether to buy SOL now or wait for the price to drop.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/news\/solana\/sol-prediction-analyst-bullish-on-solana-time-to-buy\/","og_locale":"en_US","og_type":"article","og_title":"Solana Prediction: Analyst Bullish On SOL, Time To Buy?","og_description":"An analyst predicts Solana performance for 2024 and suggest whether to buy SOL now or wait for the 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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