Solana Bulls Eye $500 as Bears Warn of Sharp Correction
Solana (SOL) is trading just below $100 after a nearly 33% monthly gain, sparking debate among analysts about whether it will break through to new heights or suffer a sharp correction.
The token has gained significant traction in recent weeks, with whale purchases and spot ETF demand supporting the bullish case. In fact, analytics platform Lookonchain reports that investors known as HURDw bought nearly $30 million of SOL over three weeks.
Some analysts are even more optimistic, predicting Solana could reach $500 or even $1,000. Ash Crypto calls it 'one of the most bullish setups in crypto right now,' citing its first green monthly candle in 10 months and improving momentum indicators.
However, not all views are rosy. The bearish case warns of a potential drop to $80, with some analysts pointing to weakening momentum and possible downside. Crypto with Haris ₿ expects a drop toward $80, citing a bearish divergence in the Stochastic oscillator.