Solana (SOL) Price To Explode By 100%, Analyst Says

There are all kinds of optimistic price predicitons about some altcoins and the latest one that we are addressing is Solana (SOL). Check out the new price prediciotn below.

A popular analyst who is known for his deep-dive research is laying out what might be on the horizon for a top Ethereum (ETH) competitor.

In a new strategy session, the pseudonymous host of Coin Bureau known as Guy said not too long ago that he thinks layer-1 protocol Solana (SOL) could double in price if the broader altcoin rally keeps on rolling.

“SOL’s price action is also looking interesting from several angles. In terms of raw price action, SOL could potentially pull a 2x if the current recovery rally continues. This doesn’t sound like much, but if the rally does continue, it would be a larger percentage gain than other large cap altcoins.”

He continued and stated the following:

“That’s why there’s some legitimacy to [FTX CEO] Sam Bankman-Fried’s remark that Solana is underrated. There’s some more evidence to suggest that SOL could see a serious rally if the current crypto market momentum continues.”

The very same analyst also talks about Ethereum’s transition to a proof-of-stake (PoS) consensus mechanism that’s scheduled for mid-September.

As noted by the online publication the Daily Hodl, he believes the prospect of glitches or outright failure is sparking interest in several other ETH rivals, including Avalanche (AVAX) and NEAR Protocol (NEAR).

“Some of you may have noticed that Solana, Avalanche, Near Protocol and other so-called Ethereum killers have been rallying as the Merge approaches.”

He continued and stated this:

“This is no coincidence, as there are many traders who are likely trying to hedge their portfolios in case something goes horribly wrong with the Merge.”

At the moment of writing this article, both SOL and ETH are trading in the red amidst a new market correction.