Solana Cryptocurrency: Forecast Reveals Target Price in New Rally

In the dynamic world of cryptocurrencies, Solana (SOL) has been attracting notable interest. Cryptocurrency trader Bluntz recently shared his analysis of SOL’s performance on Twitter, highlighting the absence of significant resistance levels until the $137 mark. This observation suggests a potentially clear path for the coin’s rise.

After a price rise Solana rose close to the US$126 mark with more than 15% increase. At the time of publication, Solana’s price was stabilizing at US$116.57, up 2% in the last 24 hours.

Bluntz details that Solana, after breaking a high time frame, entered an “uponly” trajectory, a term used to describe a solid upward trend. This phase offers an opportune window for investors and enthusiasts who are aware of these changes and ready to capitalize on them.

The trader expresses that SOL’s recent appreciation represents, in his words, “honestly the easiest trade that so many have failed at.” This statement indicates that although the market presents clear opportunities, many traders fail to take advantage of them due to underestimation or lack of perception.

Bluntz also highlighted that, despite the recent increase, Solana is still 113% away from its all-time high. Advising his followers, he suggests the strategy of “just buying dips up to $400”, emphasizing the importance of a long-term view in the cryptocurrency market.

there was in fact no resistance whatsoever until $137.$SOL legit been uponly since this high timeframe range break.

this was honestly the easiest trade that so many faded. https://t.co/fv0dyklg8b

— Bluntz (@Bluntz_Capital) December 26, 2023

Furthermore, Bluntz mentions the relevance of adopting long-term strategies, highlighting that history tends to remember more those who achieve big milestones than those who seek quick profits in small market fluctuations. He advises: “Don’t think too much”, positioning Solana as the “darling chain of cycles”.

In recent times, Solana has actually exhibited a notable increase. SOL registered an appreciation of 93% in the last 30 days and 49% in the last week, highlighting its growing potential in the market.

This positive scenario for Solana sparks discussion about whether we are at the beginning of a new rally for cryptocurrency. As the cryptocurrency market continues to evolve, Solana emerges as a promising candidate to lead this new phase.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.