It has been revealed the fact that Solana is expecting some pretty big price movements these days. Check out the latest reports about the prediction below.
SOL price prediction is out
DonAlt, a top crypto trader, believes that Solana (SOL) is poised for a breakout after its initial rally, as it appears likely to surpass a key resistance level.
However, the move to the upside for SOL is dependent on Bitcoin (BTC) holding support levels after its recent significant move to the upside, according to DonAlt’s analysis.
“Solana/USD knocking on heaven’s door here [at $32.98], again. I think that should break, same as what Chainlink (LINK) did, as long as Bitcoin can keep holding up. So, Solana looking good on the USD pair. It keeps on making higher lows.”
The trader’s weekly chart shows Solana hitting recent higher price lows.
The trader also stated the fact that Solana is showing bullish momentum on the monthly chart.
“If you look at the monthly timeframe that is quite nice. You have an impulse. Then you have a bunch of sideways and now you have a second one. I like this chart. If I had to buy an altcoin, still, even at this point, it would be Solana and it would be LINK.”
The trader predicts that Bitcoin could follow a similar price pattern to 2018 and reach a high range of $60,000. If the current level of $35,028 is broken, the target could be $60,000.
The trader believes that if Bitcoin reclaims its range, it will be a good time to invest. In 2018, Bitcoin experienced a consolidation and breakdown, followed by people attempting to short the retest, which did not go as planned.
Instead, Bitcoin reached the range high. The trader is hopeful that Bitcoin will follow a similar pattern, and reach the range high in two months, which is possible if there is positive news on the ETF front. However, there is currently high time frame resistance.
There are all kinds of crypto predicitons revealed these days and most of them are really optimistic ahead of the alleged approval of the BTC ETF.
