Solana Expects A Flood In Price, Following This Level

It has been just revealed that Solana will be expecting a flood regarding price after the coin takes out a specific level. Check out the latest reports about the matter below.

There have been a lot of predicitons about the price of SOL lately, and we’re going to focus on the latest one.

An important crypto trader who managed to guess Bitcoin’s (BTC) 2018 bear market bottom believes that the floodgates will open for Solana (SOL). This will rerpoedtly happen after the coin takes out the resistance of its multi-month accumulation range.

Bluntz recently said that Solana looks poised for a breakout against Bitcoin (SOL/BTC) and the US dollar.

“Very impressed with SOL price action this week.

Today’s price action is most likely a breakout on the BTC pair and [it’s] looking like a whole year of accumulation on not just USD but SOL/BTC is close to coming to an end.

Once it breaks $32, the floodgates get unleashed. That is still 20% higher but looking very promising in terms of high time frame structure.”

The trader’s chart indicates bullishness on SOL/BTC, as the pair has formed higher-low structures while moving above a diagonal resistance. At the time of writing, Solana is valued at $29.44, and SOL/BTC is trading at 0.00098 BTC.

More than that, it has been also reported the fact that Bluntz is bullish on Ethereum (ETH). According to the analyst, Ethereum may experience a rally after maintaining support at $1,550 and creating a bullish higher-low pattern.

Although ETH/BTC has experienced a significant decline recently, ETH/USD is back within the range it broke down from and has also created a higher low in the process.

Not too long ago, we were revealing that Squads Labs, a software development company, has successfully raised $5.7 million in a strategic funding round to support the growth of its Solana-based multisig protocol, Squads.

The funding round was led by Placeholder VC, a leading venture capital firm that invests in blockchain and cryptocurrency projects. Check out our previous article in order to learn more details about this.