- Analyst marks Solana as a highly potent altcoin in this bull cycle.
- He breaks down the altcoin’s previous pump action in the last bull run.
- Sets $800 as the nest ATH price for SOL based on historical price action.
Bitcoin recently experienced a sharp drop to the $67,000 level, but market sentiment remains largely positive. The Crypto Fear & Greed Index still sits firmly in the Greed zone, with a score of 70, indicating high expectations for Bitcoin (BTC) to soon reach new all-time highs by the end of what many expect to be a bullish Q4.
Many prominent crypto analysts believe that Bitcoin could surge to between $100,000 and $150,000 by the end of Q4. Looking further into the bull run, projections for Bitcoin’s next all-time high (ATH) vary, with estimates ranging from $220,000 to as high as $550,000. These bullish forecasts suggest strong optimism for the crypto market and especially for a bullish altseason.
Altseason Looms on the Horizon
As we can see from the post above, expectations for altseason to arrive have not been deterred despite Bitcoin’s prolonged sideways movement in the later $60,000 price range. In fact, expectations for the long-anticipated altseason to arrive have only gained more momentum as many altcoins have begun to show bullish signals on their price charts.
As we can see from the post above, one analyst notices how USDT.D has broken its ascending channel to the downside after almost 8 months. He notes that every time this has happened in the past, we’ve seen an altseason (yellow area as indicated in the chart) afterwards.
SOL Could Hit $800 ATH This Bull Run
This paired with the fact that altcoins like SUI and FET have already begun to rally while assets like VET, ADA, and XRP continue to show highly bullish signs further fuels positive sentiment towards altseason’s arrival. As we can see from the post below Solana (SOL) has also joined the bullish altcoins party.
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According to the post above, this analyst expects SOL price to hit $800. It highlights how in the last bull run, SOL has two phases. The first phase took the price of SOL from $3 to $50 and then from $25 to $250. This time it anticipated SOL to go from $200 to $800 as it went from $16 to $200 earlier this cycle.
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