Analyst reveals Solana (SOL) is on track to reach $300 due to multiple factors

important point:

  • Expert analysts highlight Solana’s bullish potential, pointing to optimism on multiple timeframes, suggesting potential positive momentum for the cryptocurrency.
  • A significant increase of 35-45% in SOL price is projected, especially in the context of its performance against Bitcoin on the weekly and monthly charts, which could take Solana bid closer to $300.

In a new video update, Guy Turner, host of popular YouTube channel Coin Bureau, shared his analysis on the current state of smart contract platform Solana (SOL). With over 2.45 million subscribers, Turner highlighted that Solana’s weekly and monthly charts were showing bullish signs, suggesting a potential 35-45% rally above $300, thus outperforming its rival. Surpassed Ethereum (ETH).

Turner also noted that Solana is showing positive performance against Bitcoin (BTC). He noted that given the upcoming Bitcoin halving event in April, the expected rally in the price of BTC could further boost Solana. This would lead to a potential 35-45% increase in the price of SOL against BTC, taking it above the $300 milestone.

The analyst also highlighted the importance of the four major milestones planned by the Solana Foundation. These milestones include the expansion of token extensions, the launch of new validator clients, increased institutional support, and a call for developers to take advantage of all the tools available on the Solana network.

Despite a 5% decline in the last 24 hours, SOL is currently trading at $181.55. However, Turner stressed that this improvement may be temporary and that Solana still has great potential in the near future.

In summary, Turner’s analysis of Solana suggests a positive outlook for this smart contract platform, with the potential for a strong rally in its price driven by a number of factors, including the upcoming Bitcoin halving event and major milestones set by the Solana Foundation. .

(TagstoTranslate)Guy Turner(T)SOL(T)Solana

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