Solana (SOL) recently flashed a buy signal, suggesting that now might be a great time to accumulate the altcoin. Crypto analysts, including Ali Martinez, predicted a significant price surge for Solana. Martinez revealed in an X (formerly Twitter) post that the TD sequential has presented a buy signal on Solana’s daily chart, indicating that the altcoin could rebound from the lower boundary of the parallel channel toward the middle or upper boundaries.
The crypto analyst mentioned that the altcoin has been consolidating within this channel since April earlier this year. Martinez provided insights into how Solana could rise if this rebound happens, revealing that the middle and upper boundaries are positioned at $154 and $187, respectively. However, a sustained close below the channel’s lower boundary at $126 could trigger a significant price correction, causing it to drop to as low as $110 or even $90.
Another analyst, The Moon, suggested that Solana could rally to as high as $155, depending on market conditions. He noted that Solana is trading within a descending triangle, highlighting $155 as a possible target but also mentioned that it could drop to $112.5.
A more bearish outlook comes from Crypto Kaleo, who predicted that Solana could drop to as low as $80 before reaching a new ATH. He noted that the last time Solana dropped to $80 was in January earlier this year. Crypto analyst Unknown Trader made a similar prediction, highlighting the $77-$83 range.
At the time of writing, Solana is trading at around $127, down almost 1% in the last 24 hours.
