Will Solana surge to $1,000 or fall to $80?
The SOL price is currently at the lower limit of its trading range. This could indicate a possible increase towards the middle or upper limit of the channel. Solana has been fluctuating in this range since April, signaling a period of calm and stability.
Martinez expects that the price may initially rise to $154 or $187, the middle and upper end of the range. But his optimism goes further. He even thinks that Solana has a chance to rise to $1,000 in this bull run.
So this is a potential buying moment. But profits are certainly not guaranteed. As can be seen from the chart, the previous upward reaction at this lower limit has been more convincing. In the past, the SOL price stayed at the lower limit of the range for only 1 or 2 days at a time. Currently, the price has been in this area for nearly a week, but there is no clear upward trend
Other analysts also see opportunities for Solana. Analyst "The Moon" mentioned that as long as Solana stays within the descending triangle, its possible target price is $155. However, he also warned of additional downward pressure, and he believes that a drop to $112 cannot be ruled out. If this negative scenario materializes, he believes that it would be a good entry point for long-term investors.
However, not everyone is equally optimistic. Analyst Crypto Kaleo first expects a drop to $80 before Solana hits new highs.
He based this prediction on a similar correction pattern in January, when the price fluctuated around $80 and then rose to over $100. Kaleo believes that after a possible drop, Solana could rise to $375.
