Expert Analyst Issues ‘Final Warning’ For Solana Price Before 60% Rally

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As a seasoned analyst with over two decades of experience in the financial markets, I must admit that predicting exact price movements is always a challenging task, especially when it comes to cryptocurrencies like Solana (SOL). However, based on the information provided and my own analysis, I find the bullish outlook presented by Kale Abe compelling.

There’s a possibility that Solana’s price may be nearing the end of its six-month flat phase and preparing for a significant surge. This optimistic view is supported by an expert’s assertion of a “final warning,” predicting that SOL could experience double-digit percentage gains within the next two weeks. The analyst’s positive forecast aligns with his belief that Bitcoin‘s price will reach $80,000 within the same timeframe.

Will the SOL price rally 50% in just 13 days, as predicted by the analyst?

Why Is Solana Price Rising Today?

On the 24th of October, the price of SOL increased by 4.9%, now standing at $173.46. This upward trend is likely due to a surge in Bitcoin’s value during the late trading session in New York on Wednesday, suggesting a positive market outlook for SOL.

There are a few reasons why Solana has been outperforming Ethereum over the past few months:

  1. Solana’s total value locked (TVL) recently hit a two-year high, indicating increased network usage.
  2. Solana has surpassed Ethereum in daily transaction fees, driven by the growing popularity of meme coins on its blockchain.

Despite a 4.9% increase over the last day, driven by Bitcoin’s surge, this analyst thinks Solana might see a jump of around 50% within just two weeks.

Final Warning For SOL Price Before $250

Crystal ball-gazing Crypto Analyst Kale Abe anticipates that the price of Solana may soar to an impressive $250, given his 110,000 YouTube followers. Abe posits that if Bitcoin’s price recovers and heads back towards the $70,000 mark, it could potentially propel Solana up to $200.

The analyst notes that SOL was the strongest crypto asset in the market in 2024 and, in what he notes as a ‘final warning,’ anticipates a significant price surge in SOL once Bitcoin reaches price discovery.

Abe anticipates that the price will be approximately $250 around 13 days from October 24th, which aligns with the highly anticipated November U.S. elections. Given Donald Trump’s involvement in the blockchain sector, the influence of cryptocurrency on U.S. politics has grown increasingly important.

Abe foresees that if Trump emerges victorious, the Bitcoin price might soar up to $80,000, as this political outcome could serve as a significant trigger for market fluctuations. Currently, Trump holds a substantial lead over Vice President Kamala Harris on Polymarket, with 59.9% compared to her 40.2%.

Solana Price Analysis: Will SOL Rally 50% in 13 days?

As a crypto investor, I’ve been closely watching the 12-hour Solana price chart, and it’s clear that we’re seeing a robust uptrend forming a parabolic ascent. This powerful rise suggests a bullish outlook. Moreover, the recent break above the crucial resistance level of $160 underscores the continuation of this upward surge.

The steep upward trend might cause Abe’s forecast to become a reality, since the asset appears ready to execute two bullish breakouts, potentially propelling its value up to approximately $259.

As Solana climbs, it may encounter resistance near the $190 mark, which aligns with the supply area of the ongoing consolidation phase Solana is in. This level is psychologically significant for many traders as it’s where they have set their sell orders. However, if it overcomes this hurdle, the price of SOL could potentially skyrocket to $259.

Analysis of Solana Price Trend Indicates Potential Bearish Shift: If the resistance at around $190 proves tough to breach, Solana (SOL) might slide down to approximately $160. If even this level doesn’t hold, there’s a possibility it could retest the price range of $120.

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2024-10-24 11:19