Analyst Says Solana Will Go Ballistic In The ‘Mania-Like Stage”, Targets $600
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Solana has experienced notable performance, recovering from $8 after the FTX collapse to hitting $210 in March 2024. Analysts believe SOL is in a breakout formation and ready for a "mania-like stage" if bullish trends persist. There's potential for SOL to surpass all-time highs of $260 and even reach $600 according to some predictions.
Despite a recent pullback, Solana's technical charts show bullish formations if prices stay above $160. Increased adoption, especially with meme coin projects leveraging Solana's high throughput and low fees, has boosted activity on decentralized exchanges, sometimes surpassing Ethereum.
Nonetheless, major firms like BlackRock are cautious about Solana, focusing instead on Bitcoin and Ethereum ETFs.
Source: www.newsbtc.com ↗
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