Solana (SUN)) Of course it could be so. Continue your amazing steps From 2023, according to the latest analysis: Cryptocurrency analyst Ali Martinez. The analyst laid out certain conditions under which SOL could rise next. Up to $150 soon.
How Solana Got to $150
Martinez commented on X (formerly Twitter): post Solana escaped. bull flag This is an evolution of the 4-hour chart he shared. According to him, the cryptocurrency token could rise towards the $150 to $165 price range if it continues to close above $106. However, this was not the case for SOL as price levels have fallen significantly since then.
#Solana It is breaking away from the rising flag shown on the 4-hour chart. A sustained close above $106 could trigger a 47% rally. $SOL Aiming for the $150 – $165 price range. pic.twitter.com/VmbA9L4QuL
— Ali (@ali_charts) January 11, 2024
Currently, SOL appears to be moving with the tide of the broader cryptocurrency market, which has been in decline since 2008. Spot Bitcoin ETF Approved. This decline is believed to be the result of Bitcoin pricing before confirmation orders were placed. Therefore, traders may consider: make a profit From flagship cryptocurrency tokens and altcoins like SOL that may have been invested.
SOL market cap currently at $39.974 billion. Chart: TradingView.com
Despite these events, general outlook on SOL appears optimistic as the cryptocurrency token is likely to hit an all-time high of $260 once again this year. Considering the next bull market, this seems more feasible. predicted This year will probably start after the Bitcoin halving.
In the meantime, investors in SOL may view the current downturn as an opportunity to secure more tokens. Especially considering that SOL is currently trading below the psychological price level of $100.
ETH Could Be Entering Altcoin Season
Cryptocurrency Analyst Jaydee Recently suggestion ETH could be entering altcoin season. This is said to be the point at which other cryptocurrency tokens begin to outperform Bitcoin. analyze Ethereum The analyst pointed out on the Bitcoin price chart that the “real altcoin season” begins when the Relative Strength Index (RSI) crosses the 20 level.
#ETH/BTC – While “Dumb Money” Hits #EthereumPlanning ‘Smart Money’ $ETH The SEASON just before the REAL ALTSEASON begins!
Alternate Season:
1. SRSI 20 level break!
2. RSI occurs! (Confirmed!)If the orange box fits, I buy a lot of replacements!
Please retweet/like for updates!… pic.twitter.com/4gkDVUdHha– JD 🇵🇭 (@jaydee_757) January 12, 2024
His theory that Ethereum is entering altcoin season is supported by recent sentiment in the cryptocurrency market. I see all interest. Switch to Ethereum We look forward to the potential approval of the Ethereum Spot ETF. Market information platform Santiment recently mentioned How traders are particularly bullish on Ethereum.
📊 Sentiment on top equity assets remains extremely optimistic as the weekend begins. #ETFs approval. Traders especially #stress towards #Ethereum After the market value surpassed $2,700 for the first time.
(Continued) 👇 pic.twitter.com/JxitOuX6Ww
— Santiment (@santimentfeed) January 13, 2024
With this in mind, ETH can begin publishing. Significant gains compared to Bitcoin It will set the tone for other altcoins in the coming weeks. ETH has already shown tremendous strength following the approval of the Spot Bitcoin ETF, rising to $2,700, the first time it has reached this level since May 2022.
Featured image from iStock
Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.
Source: NewsBTC.com