Analysts predict that Solana cryptocurrency (SOL) will experience a significant growth in the near future and its price will reach $500 and even higher. Despite market volatility and the overall bearish trend in the crypto market, optimism about the future of the currency is rising.
A strategist and trader named Curbo, as one of these analysts, believes Solana has the potential to reach $500. He points out that SOLANA has fluctuated in a certain price range for about 170 days and if it can break out of this stabilization phase, it can quickly move towards the $400 and $500 prices.
Curbo also predicts Solana to reach the $800-$1,000 price levels if this exit from the consolidation phase occurs. According to the latest digital currency news, this analysis is in line with the views of other analysts such as XForce Global, who also predicted that SOLANA could reach the range of $400-$500.
Also, another analyst named Crypto Kaleo has pointed out the similarity of Solana’s chart with Ethereum’s chart in 2020 and believes that if Solana follows the same path, it may reach $1000.
Analysts believe that Solana is poised for a big run this market cycle, and if it can break out of its current price range, there is a possibility of higher prices as well.