The majority of crypto traders are betting on Solana (SOL) because multiple factors indicate that the coin may experience a significant pump.
The current trade price of Sol coin is $156.5 & this trade price is 2.18% high over the last 24 hours period. In the last 20 days, the trade price of this cryptocurrency fluctuated around $125 level multiple times. So we can say that the Sol price surged nearly 25% from all -time low of July 2024.
Popular crypto analyst shared his analysis on the current trade price level of Sol coin & predicted that it may soon hit $174 price level.
#Solana appears to be forming a W pattern, which suggests $SOL will surge toward $174! pic.twitter.com/OxXODWi1yA
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— Ali (@ali_charts) July 15, 2024
The W pattern, or double bottom pattern, signals that a coin has bottomed twice at a similar price level, offering traders a buying opportunity. It suggests an upcoming bull run after the coin bottoms out. For Solana, this pattern shows that its price has bottomed out around $123 twice, indicating a potential major rebound and surge to higher levels.
Many crypto traders currently believe that discussions around a Solana spot ETF will resume in about 10 days, following the anticipated approval of Ethereum spot ETF applications by the United States Securities and Exchange Commission (SEC).
Many crypto experts believe there is a strong likelihood that spot ETF applications will be approved in 2025, especially with the potential presidency of Donald Trump, who is seen as pro-crypto.
In a recent significant move for cryptocurrency enthusiasts, Donald Trump has named Ohio Senator J.D. Vance as his vice presidential candidate. Vance, a former venture capitalist, is a vocal supporter of cryptocurrency and owns between $100,001 and $250,000 worth of Bitcoin through Coinbase as of 2022. This selection signals a potential shift towards more favorable cryptocurrency policies in the U.S., reflecting a future American leadership increasingly populated by pro-crypto figures.
Read also: Ethereum Spot ETF Trading Set to Begin July 23, SEC Announces: Report
Analyst Predicts Solana ($SOL) Could Soar to $180 Amid Bullish Surge
https://bitcoinik.com/analyst-predicts-solana-sol-could-soar-to-180-amid-bullish-surge/feed/
https://bitcoinik.com/analyst-predicts-solana-sol-could-soar-to-180-amid-bullish-surge/feed/
