{"id":626332,"date":"2024-06-25T20:00:10","date_gmt":"2024-06-25T20:00:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=626332"},"modified":"2024-06-25T14:26:39","modified_gmt":"2024-06-25T14:26:39","slug":"solana-price-headed-for-1000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana\/solana-price-headed-for-1000\/","title":{"rendered":"Pundit Is Undeterred By The Solana Price Crash, Says Price Is Headed For $1,000"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The Solana <\/span><a href=\"https:\/\/uniquehot.com\/news\/solana\/bearish-wave-hits-solana-sol-drops-below-140-more-losses-on-the-horizon\/\"><span style=\"font-weight: 400\">bearish price action<\/span><\/a><span style=\"font-weight: 400\"> might be coming to a close, as many cryptocurrencies have started to <\/span><a href=\"https:\/\/uniquehot.com\/news\/solana\/solana-developer-sol-price\/\"><span style=\"font-weight: 400\">show mixed price action<\/span><\/a><span style=\"font-weight: 400\"> in the past 24 hours. Dialing the price action further back shows Solana has been mostly bearish and has been on a price decline since the beginning of the month. Notably, the crypto <\/span><a href=\"https:\/\/bitcoinist.com\/solana-sinks-to-45-day-low-amidst-market-downturn\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">recently reached<\/span><\/a><span style=\"font-weight: 400\"> a 30-day low of $123.96, representing a 29% decline from a monthly high of $174.65. However, some proponents remain undeterred and are still looking forward to a bullish Solana on the long run. Particularly, an interesting prediction from crypto analyst Crypto Patel puts the price of Solana rising to $1,000 in the long term.<\/span><\/p>\n<h2>Solana To $1000?<\/h2>\n<p><span style=\"font-weight: 400\">Crypto Patel, mostly known for his Bitcoin takes, recently dropped a brief analysis on social media platform X regarding Solana&#8217;s price trajectory. According to his Solana\/TetherUS 1 week timeframe chart, Solana&#8217;s price formation on the long-term seems to lead up to a surge towards $1,000. Notably, the chart shows the formation of a giant cup and handle pattern, which is generally considered a bullish pattern.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/cardano\/cardano-next-move-12000-50\/\">Analysts Battle Over Cardano\u2019s Next Move: 12,000% Rally Or 50% Crash?<\/a><\/div>\n<p><span style=\"font-weight: 400\">Solana has been on a U-formation since 2022, with a recent six-month surge since October 2023 completing the other side of the U cup. However, the pattern shows a prevailing neck line resistance around SOL&#8217;s current all-time high of $259, leading to the start of the handle pattern.<\/span><\/p>\n<figure id=\"attachment_626334\" aria-describedby=\"caption-attachment-626334\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-626334\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-1-1.png?w=460&#038;resize=460%2C283\" alt=\"Solana 1\" width=\"460\" height=\"283\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-1-1.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-1-1.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-626334\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">According to the technical analysis, this handle pattern is expected to be completed sometime around late 2025. Following its completion, Solana will have the opportunity to break through this neckline resistance at some point in 2026, which would initiate a surge to new all-time highs. The first price target is around $430, and the second is just above $1,000, representing gains of 220% and 640%, respectively, from the current price levels.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As explained above, the analyst&#8217;s technical analysis is more of a long-term outlook than on a short-term price prediction. This serves more as a strategic roadmap for the next few years.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-will-reach-25000\/\">SkyBridge Capital\u2019s Scaramucci Says Bitcoin Will Reach $250,000 Is This US Presidential Candidate Wins<\/a><\/div>\n<p><span style=\"font-weight: 400\">It&#8217;s important to note that while Crypto Patel&#8217;s final SOL price target might be ultra-bullish, the path to attaining it looks very tough. Surprisingly, the analysis suggests that Solana could fall to as low as $46 during the formation of the handle pattern, a price that might not resonate well with Solana bulls.\u00a0<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-626335\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-2-1.png?w=460&#038;resize=460%2C177\" alt=\"Solana 2\" width=\"460\" height=\"177\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-2-1.png?w=512 512w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Solana-2-1.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Solana is trading at $136 and is 9% in the past 24 hours as the bulls look to undo a month long price decline. According to price history, investors can look forward to Solana kickstarting a bullish price action in July. This is because Solana has <\/span><a href=\"https:\/\/cryptorank.io\/price\/solana\" rel=\"nofollow\"><span style=\"font-weight: 400\">registered price increases<\/span><\/a><span style=\"font-weight: 400\"> in July for the past six years.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/rhgq0Lqc\/\" alt=\"Solana price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">SOL price above $135 again | SourcE: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SOLUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Solana bearish price action might be coming to a close, as many cryptocurrencies have started to show mixed price action in the past 24 hours. Dialing the price action further back shows Solana has been mostly bearish and has been on a price decline since the beginning of the month. Notably, the crypto recently reached a 30-day low of $123.96, representing a 29% decline from a monthly high of $174.65. However, some proponents remain undeterred and are still looking forward to a bullish Solana on the long run. Particularly, an interesting prediction from crypto analyst Crypto Patel puts the price of Solana rising to $1,000 in the long term. Solana To $1000? Crypto Patel, mostly known for his Bitcoin takes, recently dropped a brief analysis on social media platform X regarding Solana&#8217;s price trajectory. According to his Solana\/TetherUS 1 week timeframe chart, Solana&#8217;s price formation on the long-term seems to lead up to a surge towards $1,000. Notably, the chart shows the formation of a giant cup and handle pattern, which is generally considered a bullish pattern. Related Reading: Analysts Battle Over Cardano\u2019s Next Move: 12,000% Rally Or 50% Crash? Solana has been on a U-formation since 2022, with a recent six-month surge since October 2023 completing the other side of the U cup. However, the pattern shows a prevailing neck line resistance around SOL&#8217;s current all-time high of $259, leading to the start of the handle pattern. According to the technical analysis, this handle pattern is expected to be completed sometime around late 2025. Following its completion, Solana will have the opportunity to break through this neckline resistance at some point in 2026, which would initiate a surge to new all-time highs. The first price target is around $430, and the second is just above $1,000, representing gains of 220% and 640%, respectively, from the current price levels. As explained above, the analyst&#8217;s technical analysis is more of a long-term outlook than on a short-term price prediction. This serves more as a strategic roadmap for the next few years.\u00a0 Related Reading: SkyBridge Capital\u2019s Scaramucci Says Bitcoin Will Reach $250,000 Is This US Presidential Candidate Wins It&#8217;s important to note that while Crypto Patel&#8217;s final SOL price target might be ultra-bullish, the path to attaining it looks very tough. Surprisingly, the analysis suggests that Solana could fall to as low as $46 during the formation of the handle pattern, a price that might not resonate well with Solana bulls.\u00a0 At the time of writing, Solana is trading at $136 and is 9% in the past 24 hours as the bulls look to undo a month long price decline. According to price history, investors can look forward to Solana kickstarting a bullish price action in July. This is because Solana has registered price increases in July for the past six years.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":626336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[167,6664,26263,14690,12837,89406,86420,83626,89405,85361,86410,83627],"class_list":["post-626332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n<title>Pundit Is Undeterred By The Solana Price Crash, Says Price Is Headed For $1,000<\/title>\n<meta name=\"description\" content=\"The Solana 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