The crypto market has recently seen a significant increase. This renewed optimism saw Bitcoin soaring over $64,000, with top coins like Solana basking in the wave. 

Amid the bullish momentum, Solana (SOL) broke the $154 resistance level to reach $160, marking a 12% over the past week. Some analysts think the rally is over, predicting Solana to soar to $1,000. 

If the present trend persists, SOL could close this week in green. Moreover, technical indicators support the bullish sentiment.

Solana (SOL) Price Movement

SOL reached a high of $170 on June 5 before hitting a rough patch that plummeted its price to $120 by June 24. This sharp decline represents a significant drop of about 29.4%.

However, the downturn didn’t last long as Solana rebounded, reaching $154 on July 2. Unfortunately, the bullish momentum couldn’t hold, as SOL tumbled again, touching the $120 support level.

But Solana showed its resilience once more; signs of recovery emerged as the bulls started returning on July 5. On July 15, SOL achieved a significant milestone, breaking through the $154 resistance level and flipping it to support.

If SOL can remain above this new support, it could signal the start of a more sustained upward trend. 

Analyst’s Bold Prediction: Solana’s Potential Surge to $1,000

In a July 15 tweet, a well-known crypto analyst, Captain Faibik, shared his thoughts on Solana’s price trajectory.

I believe $SOL #Solana will hit the $1,000 mark in the upcoming Bullish Rally…✍️ pic.twitter.com/YKSGrmsgiq

— Captain Faibik (@CryptoFaibik) July 15, 2024

Faibik thinks Solana is entering the euphoric stage of a more extensive bull run. He set a bold price target of $1,000 for SOL. This prediction could significantly impact Solana’s price as it could strengthen investor confidence in the coin.

Another Analyst Predicts Solana’s Potential for New All-Time Highs

In addition to Captain Faibik’s prediction, another analyst is bullish on Solana. The crypto expert, known as ‘NoLimit_777,’ pointed out a significant cup and handle pattern in Solana’s chart. This pattern resembles the one seen before SOL’s previous all-time high in 2021. 

Further, the analyst uses the Fibonacci extension to support their bullish view. Based on his analysis, NoLimit_777 suggests SOL could reach $550 or even $840, marking a massive 450% increase from current prices. 

However, the analyst notes that long-term growth depends on fundamental factors. One key factor highlighted is the potential approval of Solana ETFs, which could be a strong catalyst for SOL’s price surge. 

Additionally, the analyst parallels Ethereum ETFs, which are expected to significantly boost ETH’s price. Interestingly, the SEC could decide on Solana ETFs around mid-March 2025.

We at @vaneck_us are pleased to announce that @CBOE just filed our 19b-4 to list and trade shares of the FIRST Solana exchange-traded fund in the US!

We look forward to engaging with the SEC during the review period.

— matthew sigel, recovering CFA (@matthew_sigel) July 8, 2024

This follows recent applications filed by CBOE proposing that the SEC approve VanEck and 21Shares’ Solana ETFs. Some experts believe if approved, Solana ETFs could lead to up to 900% gains. 

This aligns with the overall bullish sentiment surrounding SOL’s future price potential. However, it’s important to remember that predictions aren’t guarantees. 

SOL Technical Analysis: Bullish Signals Point to Potential Uptrend

Solana (SOL) shows bullish signals across multiple technical indicators. It attempts to break above the upper Bollinger Band, which, if successful, could trigger a significant price surge. 

Also, a break above this level often attracts more buyers, potentially increasing prices. The Moving Average Convergence Divergence (MACD) is above its signal line, with bullish histogram bars indicating increasing buying pressure.

Solana trades above its 50-day and 200-day Simple Moving Averages (SMA). These moving averages could act as robust support levels, potentially preventing the price from falling sharply.

The Relative Strength Index (RSI) is over 60 below the overbought territory, suggesting intense buying pressure and room for more price increases. Based on these technical indicators, SOL appears poised for further price ascent. 

However, while technical analysis can provide valuable insights, it does not guarantee future performance. 

Solana Alternative: Pepe Unchained Presale Gains Momentum as Crypto Market Heats Up

Pepe Unchained ($PEPU) is among the top projects making buzz in the crypto market. This new project combines the viral nature of meme coins with the utility of a layer two blockchain. 

The presale has caught the attention of investors, already gathering over $4 million in a few weeks.

While Solana has been making headlines with its viral meme coins, Pepe Unchained offers unique features that set it apart. It’s the first Pepe-themed cryptocurrency with a blockchain that can support other meme coins and offer scaling functionalities. 

Moreover, Pepe Unchained promises faster transactions and lower fees than Ethereum. It also offers impressive staking rewards, with the current APY at 464%, an attractive opportunity for early investors.

Additionally, Pepe Unchained (PEPU) leverages the popularity of Pepe (PEPE), one of the most successful meme coins in 2024. By combining meme coin allure with layer 2 technology, PEPU could tap into the $53 billion meme coin market and the growing layer 2 sector.

Experts have also noticed PEPU, with analysts from the popular 99Bitcoins YouTube channel believing Pepe Unchained could lead meme coin gains in the upcoming bull market.

With all these in mind, the project’s potential to surge once launched is strong. In the ongoing presale, each PEPU token is priced at $0.0084937. Interested investors can visit the presale page and follow the instructions to buy.