- Solana stands out in a weekend of crypto market stability, gaining almost 50% in the past week.
- Altcoin Sherpa predicts a bullish path for Solana, noting a breakout above $47.40 and setting the next resistance at $77.65.
- Market indicators indicate a favorable buying opportunity as Altcoin Sherpa anticipates Solana’s price reaching $75 in the coming weeks.
Solana (SOL) has emerged as a standout performer, witnessing an impressive 50% surge in value over the past week. As Bitcoin struggled below the $37,000 mark and Ethereum cautiously hovered around the crucial level of $2,000, Solana’s remarkable run has caught the attention of investors and analysts.
A prominent figure in the crypto analysis realm, Altcoin Sherpa, has recently shared insights into the potential trajectory of Solana’s price in the coming weeks. The analyst’s forecast paints a bullish picture for Solana, highlighting a significant breakthrough as the SOL price successfully surpassed the key resistance level of $47.40. This breakthrough triggered a surge in the token’s value, propelling it into a consolidated range.
Source: Altcoin Sherpa
Altcoin Sherpa has strategically set the next major resistance level at $77.65. The analyst interprets this consolidation as a positive sign, indicative of a bullish trend in the market.
Notably, market indicators align with this assessment, revealing a consistent upward movement in SOL price charts. The averages sharply rising further bolster the indication of a prevailing bullish sentiment. Adding to the bullish sentiment is the recent announcement by Coinbase Global Inc., revealing plans to introduce support for Solana perpetual futures contracts on its International exchange and Advanced platform.
For investors keen on capitalizing on this promising trend, Altcoin Sherpa suggests that the current period represents a favorable buying opportunity. Anticipating Solana’s price to surge to $75 in the coming weeks, the analyst’s prediction aligns with the recent bullish run and the established resistance levels.
