Solana Price Prediction: Analyst Calls for $2,700 SOL – But Only If This Crucial Level Holds

The Solana price has risen by 3% in the past 24 hours, with its move to $166 coming as Bitcoin reaches a new all-time high of $122,838 today.

SOL is now up by 12% in the past week and by 16.5% in the last 30 days, while also posting a very healthy 104% increase in the past year.

Yet with the market only just beginning to heat up again after several quiet months, some analysts are now predicting that Solana may be on course for a charge towards $2,000 and higher.

This may be a best-case scenario, but with some of the best fundamentals in the market, the medium- and long-term Solana price prediction looks very optimistic right now.

Posting on X, analyst Ali Martinez suggested that, if the Solana price can pass and stay above $170 by the end of the week, it could break out towards $2,700.

This optimism is based largely on SOL’s one-week chart forming a classic cup-and-handle pattern, which would imply a breakout if the alt can rise above the cup’s ceiling.

This is a critical level for Solana $SOL. A weekly close above $170 could ignite the next major bull run and open the gates to $2,000! pic.twitter.com/JjTaRdUL4h

The post above attracted some skeptical replies, yet the fact remains that Solana is still 43% below its all-time high of $293, so it certainly has some catching up to do.

And given its fundamentals, there’s every chance that it could set new records later in the year, even if a surge towards $2,700 is perhaps a stretch.

Indeed, not only is Solana the second-biggest layer-one blockchain in terms of TVL, but it’s looking forward to the possibility this year of spot-based SOL ETFs.

Bloomberg analysts have given Solana ETFs a 95% chance of approval, and given that the SEC has previously accepted Ethereum ETFs, there seems to be no fundamental reason why they would refuse most SOL ETFs.

As such, now is still a very good time to buy Solana, with the coin’s chart today showing a big surge in momentum, albeit one that’s still some way from becoming overbought.

Of particular note is the relative strength index (yellow), which has risen beyond 60 and is likely to reach 70 or 80 before SOL begins to correct.

Likewise, the coin’s moving average convergence divergence (orange, blue) has also recently moved into a more bullish position, and is very far from overheating.

We are therefore on track to see the Solana price pass $200 at some point in August, while it’s likely to reach $300 by Q4.

If Solana is too much of a major token for some traders, they may want to investigate one of several promising presale coins available right now.

Such coins can often generate so much momentum during their sales that they go on to rally big once they list, with Snorter (SNORT) being one likely candidate to do just this.

Snorter opened its presale a few weeks ago and has already gone on to raise more than $1.8 million, a sign of its growing popularity.

A automated sniping bot, Snorter will use AI to identify new coins before they rally, helping traders to improve their portfolios and returns.

Users will need to hold native token SNORT to gain access to Snorter’s features, which also include copy trading, limit orders, atomic swaps, as well as protection from rugpulls.

Snorter has already been busy growing its online community, with the token’s official X account now boasting over 13,000 followers.

Its SNORT token will have a max supply of 500 million tokens, and it will run on Ethereum and also on Solana, giving it a wide reach.

Holders will be able to stake it for a passive income, while newcomers can join its sale by going to the Snorter website.

It’s currently selling for $0.0981, but this price will continue to rise for as long as the sale continues.

The post Solana Price Prediction: Analyst Calls for $2,700 SOL – But Only If This Crucial Level Holds appeared first on Cryptonews.