Founder and Chief Executive Officer (CEO) of Evai Crypto Ratings,
Matthew Dixon, has expressed optimism about the Solana future price
outlook, projecting a new bullish target for the
cryptocurrency. CEO Predicts Bullish Outlook For Solana In a
recent post on X (formerly Twitter), Dixon shared a Solana and USD
pair price chart originally published on TradingView, a crypto
analysis platform. The crypto CEO indicated that the ongoing price
correction for Solana, identified as “wave 4 (blue)” on the price
chart, has not concluded and is expected to experience further
declines. Related Reading: Ethereum Staking Reaches Historic
Milestone As ETH Price Barrels Past $2,400 He predicted that the
ongoing wave 4 (blue) would reach a price level similar to Solana’s
previous price correction, albeit to a lesser degree. The Evai CEO
also anticipates that after the conclusion of the recent
correction, Solana may experience a price rally once again.
Previously, Solana witnessed a major surge, nearly surpassing the
$125 threshold. However, the cryptocurrency lost a substantial
portion of its gains as the bullish hype faded, eventually settling
below the $100 price mark at some point. Additionally, on
Tuesday, February 6, the Solana blockchain was temporarily halted
due to an outage, resulting in no new blocks being produced for
over 25 minutes. This unexpected disruption significantly impacted
the overall sentiment of the cryptocurrency, causing slight
declines in the price of SOL. Following this, a solution was
coordinated among validators, and the network officially resumed
operations. Presenting another price chart for Solana, Dixon
has projected a new upside target of $120 for the cryptocurrency.
The crypto CEO has stated that despite the recent blackout, Solana
has maintained both short-term and long-term positive prospects.
Nonetheless, investors are advised to anticipate a potential
mid-term price correction for the cryptocurrency. SOL Price
Surges Above $100 Mark Reports from Santiment, a global market
intelligence platform, have also indicated a bullish outlook for
Solana. Earlier on Thursday, the crypto data platform disclosed on
X that Solana is currently dominating the altcoin market and has
become one of the few cryptocurrencies outperforming Bitcoin.
Related Reading: Bitcoin Price Jumps Above $44,000, Here Are The
Factors Driving It Santiment shared a price chart illustrating
Solana’s recent price action, showcasing a robust climb over the
past few days. According to their data, in the last 36 hours,
Solana’s price relative to Bitcoin has increased by over
4.5%. The cryptocurrency market intelligence platform
disclosed that the outage earlier this week has instigated “Fear,
Uncertainty and Doubt” (FUD) amongst investors, contributing to the
current price rebound in Solana. Solana rallied by almost 5%
in the last day, and at the time of writing, the cryptocurrency is
trading at a price of $105.46, reflecting a weekly increase of
4.39%, according to CoinMarketCap. SOL price trending at $105
| Source: SOLUSD on Tradingview.com Featured image from Crypto
News, chart from Tradingview.com
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