Evai Crypto Ratings Founder and CEO Matthew Dixon expresses optimism about Solana’s future price outlookpredicting new bullish targets for cryptocurrencies.
CEO predicts bullish outlook for Solana
In a recent post on X (formerly Twitter), Dixon shared a price chart of the Solana-USD pair that was originally published on TradingView, a cryptocurrency analysis platform. Cryptocurrency CEO shown Solana's ongoing price correction, marked as “Wave 4 (Blue)” on the price chart, is not over yet and further declines are expected.
He predicted that the ongoing wave 4 (blue) will reach price levels similar to Solana's previous price correction, albeit to a lesser extent. Evai CEO also expects that Solana may experience difficulties after the recent corrections are completed. price increase once again.
Previously, Solana witnessed a significant surge. Over $125 threshold. However, as the bullish hype faded, the cryptocurrency lost a significant portion of its gains and eventually settled down. Price range below $100 At some point.
Additionally, on Tuesday, February 6th, the Solana blockchain was temporarily suspended due to the following reasons: power outage, resulting in no new blocks being generated for more than 25 minutes. This unexpected disruption had a major impact on the overall sentiment of cryptocurrencies, slight decrease At the price of SOL. Following this, a solution was coordinated between validators and the network. We have officially resumed business.
Dixon presents another price chart for Solana. Predict new upside price target $120 for cryptocurrencies. Cryptocurrency CEO recent power outage, Solana maintains a positive outlook both in the short and long term. Nevertheless, investors are advised to anticipate possible medium-term price corrections for cryptocurrencies.
SOL price soars above $100
In a report by Santiment, a global market information platform, Bullish outlook on Solana.Early Thursday morning, Crypto Data Platform disclosed According to X, Solana currently dominates the altcoin market, making it one of the few cryptocurrencies to outperform Bitcoin.
Santimento shared a price chart showing: Recent price trends for Solana, showing a strong rise over the past few days. According to their data, in the past 36 hours, Solana's price against Bitcoin has increased by more than 4.5%.
The crypto market intelligence platform revealed that the outage earlier this week caused “fear, uncertainty and doubt” (FUD) has contributed to Solana's current price recovery among investors.
Solana rose almost 5% over the past day, and the cryptocurrency is trading at all-time highs at the time of writing. Price $105.46This reflects a weekly increase of 4.39%, according to CoinMarketCap.
SOL price trending at $105 | Source: SOLUSD on Tradingview.com
Featured image from Crypto News, chart from Tradingview.com
