Crypto Analyst Who Called 2018 Market Bottom Eyes Solana Rebound, Targets Low $70s for $SOL

In dissecting the recent price behavior of smart contract platform Solana ($SOL), a popular cryptocurrency strategist known or accurately calling the cryptocurrency market bottom in 2018, has suggested he would gain interest in the cryptocurrency again when it gets to the $low $70s.

Timeline of Solana

OpenSea, a prominent NFT marketplace, is currently developing a platform upgrade known as OpenSea 2.0. According to Devin Finzer, the CEO, this upgrade aims to enhance user experience and better differentiate NFT categories as their use cases continue to evolve.

Top Altcoins: Bitcoin ETFs experienced a remarkable debut when they started trading on Thursday, January 11. Following their approval, these ETFs rapidly drew in close to $1.5 billion in fresh capital, with around 500,000 transactions in just two days.

Solana (SOL) could well be on course to continue its remarkable run from 2023, going by a recent analysis by crypto analyst Ali Martinez. The analyst laid out a certain condition that could see SOL rise to as high as $150 soon enough.

The latest dog-themed meme coin on Solana (CRYPTO: SOL) reporting explosive growth. What Happened: Myro is up 35% in the last 24 hours and a stunning 101.2% in the last seven days.

The Solana Foundation has unveiled a roadmap for 2024, focusing on innovation, developer engagement and network scalability. “2024 is the year of Solana,” the foundation proclaimed, focusing on the key milestones achieved and strategic goals for the year in the statement.

With the recent approval of Bitcoin exchange-traded funds (ETFs) injecting new inflows and igniting a sense of bullish sentiment in the market, Solana (SOL) is emerging as one of the top gainers in the past 24 hours. The cryptocurrency has experienced a 4.5% surge, trading at $99, aiming to reclaim the significant $100 milestone lost during a recent deep correction.

A widely followed crypto strategist is updating his outlook on Ethereum (ETH) competitor Solana (SOL). Pseudonymous crypto strategist Pentoshi tells his 738,500 followers on the social media platform X that SOL could dip in the coming months by more than 40% from its current value.

Solana's SOL price experienced a notable setback during the first week of the new year, sliding by 10% to under $100. This decline marked a significant retracement from its recent peak of $115 on January 2.

During the initial week of 2024, the digital currency solana experienced a sharp decline, shedding over 6% in value. This downturn has relegated the crypto asset to the fifth position in market rank, as it oscillates beneath the $100 threshold on Saturday, Jan. 6, 2024.

A number of technical analysis (TA) indicators make Solana (SOL) enthusiasts feel optimistic, but major announcements coming might affect SOL's performance. Here's who should be particularly vigilant, and what might be next for SOL's performance in the midterm.