Legendary Crypto Trader Predicts Solana (SOL) Breakout to $360 Soon

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Solana, often known as the ‘Ethereum killer,’ has been consistently rising, defying market trends, and establishing itself as a major player in the cryptocurrency world. It has surged an impressive 732.20% this year, which has attracted significant investor interest.

Looking at Solana’s phenomenal surge CryptoJack, a popular YouTuber and crypto trader, has made bold predictions for Solana (SOL), highlighting a notable technical pattern and forecasting a price surge to $360.

Solana Ready For Long Run

In a recent tweet, CryptoJack noted that Solana has formed a “rounding bottom” pattern over several weeks, indicating a potentially explosive move shortly.

The “rounding bottom” pattern, a bullish technical indicator, typically signals a trend reversal from bearish to bullish sentiment. This formation is characterized by a gradual price decline followed by a rounded base formation before a potential breakout.

Solana formed a rounding bottom pattern over many weeks and is primed for an explosion any moment now.

I entered a Long position on $SOL and expect it to break ATHs this year! #Solana pic.twitter.com/ApUazaXXz5

— CryptoJack (@cryptojack) May 8, 2024

As per the Cryptozack analysis, Solana (SOL) is now looking for a long position and anticipates the cryptocurrency to surpass its all-time highs (ATH) this year. Currently trading around $146, CryptoJack’s price projection suggests a doubling in value for Solana to $360.

Analyst’s Bullish Outlook

An analyst has emphasized Solana’s bullish outlook, citing critical support and resistance levels that reflect its strong performance. Over the past month, Solana has demonstrated positive momentum with 63% green days, indicating sustained upward movement.

Solana’s market capitalization has surged impressively by 10% since the start of 2024, soaring from $9 billion to $80 billion. This substantial increase underscores Solana’s growing prominence and attractiveness to investors.

Rising Popularity In Meme Coin Success

Solana has gained widespread popularity within the cryptocurrency space, particularly for its success with meme coins. Memes coins like BONK, WIF, and BOME have experienced significant value surges, contributing to Solana’s overall bullish trend.

With Solana riding various waves of explosive growth, the crypto analyst predicts an incoming wild bull run that could potentially multiply Solana’s value by thousands.