Solana (SOL), a leading cryptocurrency, has shown signs of price recovery after a bearish performance in August. The asset, which declined nearly 10% last week, is regaining momentum entering September. Solana has risen from $124 to above $134 in early trading today, showing a 2.7% increase in the last 24 hours, now trading at $132.
Renowned crypto analyst Javon Marks maintains a bullish outlook on Solana, with a projected target of $233.8. Marks' prediction is based on a hidden bullish divergence pattern observed in SOL's trading. He has maintained this target since mid-2023 when Solana's price was $16.12, forecasting a 1,203% climb.
Marks suggests that if Solana breaks past the $233.8 level, it could rise further towards $457, representing an additional 93% increase. Alongside Marks' outlook, other analysts believe Solana’s price could see significant gains around the upcoming SOL Breakpoint event.
Crypto analyst Marty Party highlighted that historically, Solana’s price surges leading up to Breakpoint. For instance, Solana saw a 68% price increase before the 2021 event, 42% in 2022, and 58% in 2023. This year's event is set for September 20th in Singapore, generating excitement in the Solana community.
Marty Party noted that Solana could potentially see a 62% increase, pushing its price to $215.46. As Breakpoint approaches, analysts like Sai anticipate a potential rally similar to previous years, supported by historical data and bullish signals.
