Solana Technical Analysis: SOL could grow more than 340% by 2025, according to analyst

A renowned crypto strategist sees a bright future for Solana (SOL), a direct competitor to Ethereum (ETH). With a robust base of 206,500 followers on social network explosive growth of ETH, which rose from US$80 to reach a peak of US$4,500 in 2021.

Inmortal bases its forecast on a detailed analysis of market behavior, aligning Solana for a parabolic growth, “SOL will go from US$8 to US$450 in 2025”. Although he believes that Ethereum could outperform in the short term, the analyst predicts that Solana will regain its leadership after this period. He highlights, “ETH has a good chance of outperforming SOL in the coming months. After that, SOL will once again be the leader.”

Three most important levels in $SOL

We teleport from one to the other. pic.twitter.com/umDzixYtlX

— Immortal (@immortalcrypto) February 22, 2024

The expert also points to the next price milestones for Solana, with ranges of $120 to $130 and $190 to $200 as the main resistance levels that, once overcome, could solidify support for future appreciation. . At the time of analysis, Solana is trading at $100.16, facing a slight pullback in the last 24 hours. Still, the analyst’s conviction remains firm with a promising long-term outlook for the digital asset.

In addition to Solana, the trader also sheds light on Bitcoin, predicting an imminent test of the $47,000 level next week, followed by a possible rise beyond $53,000 in early March. Maintaining an optimistic stance, Inmortal states, “I’m not interested in shorts. I’m going to turn off my brain and wait for this configuration to develop.”

Inmortal’s forecast for Solana reflects significant confidence in the cryptocurrency’s potential to post monumental gains in the coming years, echoing a bullish trend previously seen in other prominent digital assets. At the time of publication, the price of SOL was quoted at US$102.72, up 2% in the last 24 hours.

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.