Solana Is Poised For Massive Surge To $1000 Amid Solana ETF Rumors

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Recent speculation surrounding the approval of an Ethereum ETF has not only boosted Ethereum’s price but also sparked interest in Solana as a potential ETF contender. However, after a month of correction, Solana surged to $187 today before a slight dip. Meanwhile, renowned crypto analysts believe that soon Solana will surpass $200, and later in a few months it will hit $1000.

Is Solana Going To Hit $200

Altcoin Sherpa, a renowned cryptocurrency analyst, recently shared insights on Solana’s (SOL) price trajectory, particularly its ascent towards the $200 milestone, followed by speculative observations on potential outcomes.

$SOL grind to $200, pullback, and then lets see what happens. pic.twitter.com/nN0KgneaTM

— Altcoin Sherpa (@AltcoinSherpa) May 22, 2024

According to Sherpa’s analysis, SOL’s chart shows favorable conditions, having experienced a slight dip recently, indicating a potential setup for another short-term rally. Meanwhile, the RSI has dipped close to 50 earlier but is now rebounding, signaling a resurgence in momentum.

Despite fluctuations, the charts maintain a bullish outlook for the altcoin. SOL’s current support level is at $175, with a critical resistance point at $190. If Solana breaches the $188 threshold, it could pave the way for further upward movement, potentially reaching $195 and eventually $200.

Solana Big Goal $1000 

Echoing a similar bullish outlook, another crypto enthusiast borovik made a bold prediction regarding the price of Solana ($SOL), suggesting that the approval of Ethereum exchange-traded funds (ETFs) could propel Solana (SOL) to $1,000.

The Ethereum ETFs will send $SOL to $1,000

— borovik (@3orovik) May 22, 2024

According to Borovik, introducing these ETFs could significantly impact the broader cryptocurrency market, particularly on altcoins like Solana.

Solana spot ETF is Coming Soon

Daniel Yan, co-founder of Matrixport, highlighted Solana’s potential candidacy for an ETF, drawing parallels with historical market trends. He noted that the approval of a Bitcoin ETF historically led to heightened interest and investment in Ethereum. Yan implied that if Ethereum were to secure ETF approval, it could similarly bolster interest in Solana, potentially triggering a price surge.

Yan recommended considering investment in Solana over Ethereum, citing it as a more promising trading prospect with greater profit potential. He pointed out the comparatively lower competition in the Solana market, indicating a higher likelihood of achieving profits compared to Ethereum.