Solana Eyes Bullish Breakout as Analyst Sees Rally to $100
Solana's price has been on an upward trend over the past week, rising by 5.89%. However, despite this increase, the cryptocurrency remains within a deep downtrend that has seen its value plummet by 57% over the past year.
The lowest point of $60.13 was reached on June 6, marking the first time Solana's price had dipped below this level since December 2023.
Crypto analyst Ali Martinez believes that a bullish breakout could be imminent, citing several technical indicators that support a rally to $100.
The TD Sequential has flashed a buy signal on the daily timeframe, while a golden cross on the MACD suggests a shift in momentum. Additionally, the parallel channel price action is poised to flip bullishly, with a potential move toward $83 and beyond.