Solana Soars 1650% as Analysts Spot Bullish Pattern
Solana is making a strong comeback in the cryptocurrency market after its two-week correction period following its record high of $263 on November 23. The token's price increased by nearly 7% on Wednesday, touching $232.
Crypto analyst Ali Martinez has identified a bullish 'cup and handle' pattern on Solana's monthly chart, which could lead to a substantial potential upswing. If this pattern unfolds as expected, Solana could experience a 1,650% increase, taking its price to an unprecedented $4,000 per token.
However, not all analysts are optimistic about Solana's future path. While some focus on the current momentum indicators and prevailing buying pressure, others advise caution, highlighting a completed pullback structure that indicates a distinct five-wave downturn.