- Solana sees a surge in bullish sentiment amid rumors of Apple involvement.
- Traders anticipate potential price surges up to fivefold.
- Market consolidation suggests a significant breakout is imminent.
As most cryptocurrencies enjoyed gains on Friday, Solana ($SOL) emerged as the standout performer, driven by a surge in bullish crowd sentiment. According to analytics firm Santiment, Whispers of a possible partnership between Solana and Apple have created a buzz for the altcoin, propelling it to the top. These, though, are still rumors, but factoring these into SOL performance, it is attracting the crypto space’s attention itself, with most now watching for its upward movements.
Solana Price Speculation: Traders Eye 5x Increase
Speculation toward upside potential for Solana has already started among seasoned traders, ranging from a simple double to as much as a fivefold increase. The current market fervor has SOL holders hoping the token’s price will break above $150 on an extended bull run.
With adoption expected to rise significantly by 2025, Solana is poised to play a bigger role within the blockchain space, further cementing its position as a key player in the industry. According to a recent analysis on TradingView, SOL changes within the narrow consolidation range of $143.33 and $145.
With the token just lingering in this range, traders are closely eying the situation for its imminent breakout. The inability of the price to take a firm direction, either upwards or downwards, stirs into action the interest of many, as a huge shift in price has been expected.
The Path Ahead: Breakout or Pullback?
The SOL is within the consolidation phase, epitomizing the tug-of-war between bulls and bears. Furthermore, since the price is below both their 34-period and 89-period EMAs, momentum remains slightly bearish at the moment. If the price breaks upward through the resistance at $144.70, it would be a bullish movement toward the next key level at around $150.54.
On the other hand, if SOL cannot hold the $143.33 level, a further correction toward $137.25 should be expected. In any direction, this contraction suggests an imminent significant price move, wherein traders are looking either for a sharp move to the upside or for a deeper correction.
Adding fuel to the fire of speculation, Standard Chartered has thrown in a prediction that SOL could surge by 400% in 2025 if some political contingencies arise to play, of which the re-election of Donald Trump is one. If it does, then SOL will blow through $700, making traders question if all this is just the tip of the iceberg.
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