Bitrabo Editorial
While the crypto market is currently experiencing a bearish trend, optimism surrounding Solana is on the rise as many analysts foresee a significant surge in SOL’s value in the coming months. Market strategist and trader, Curbo, has identified a critical factor that needs to be met for Solana to reach the crucial $500 price milestone.
Anticipating Price Targets for Solana
Despite market fluctuations, Curbo remains positive about Solana’s long-term potential, projecting a price range between $400 and $500 for the cryptocurrency.
Curbo emphasizes that Solana’s ability to break out of its current consolidation phase, which has lasted around 170 days with prices between $120 and $210, will be crucial for its upward trajectory. If SOL successfully exits this phase, Curbo anticipates a significant price increase to $400 and eventually $500.
Curbo’s forecast aligns with the speculation of SOL potentially reaching $1,000 by the end of the current bull cycle. He predicts that following a $500 breakthrough, SOL could steadily climb to approximately $800 and ultimately $1,000.
Collaborating with Curbo’s analysis, XForce Global has also predicted Solana reaching the $400 to $500 range, drawing parallels between SOL and Bitcoin’s market positions.
Comparing SOL to Ethereum’s Previous Rally
With bullish predictions gaining momentum, SOL seems poised for a significant uptrend in this bull cycle, with analysts highlighting positive developments in the asset’s chart.
Another analyst, Crypto Kaleo, has pointed out similarities between SOL’s current chart and Ethereum’s pattern in 2020 before Ethereum’s substantial surge to new all-time highs.
If Solana follows a growth trajectory akin to Ethereum’s, Crypto Kaleo is optimistic that SOL could achieve the much-anticipated $1,000 price target by the end of the cycle.