Major

Solana

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/will-solana-see-a-major-price-shift" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Solana See a Major Price Shift?</a><br></p>
<p style="text-align: justify">Analyst Jamie Coutts forecasts a potential price surge for <a href="https://en.bitcoinhaber.net/solana-links-blockchain-to-websites" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a> (SOL) based on recent market patterns. In a recent update on social media, he pointed out that SOL has been forming a significant triangular pattern over the last six months, suggesting that a breakout could result in considerable price movement.</p>
<h2 style="text-align: justify" id="what-does-technical-analysis-reveal">What Does Technical Analysis Reveal?</h2>
<p style="text-align: justify">Coutts highlighted that breaking through the upper limits of this triangular formation could lead to a substantial upward price shift for SOL. The cryptocurrency has shown signs of consolidation against both USD and <a href="https://en.bitcoinhaber.net/german-authorities-sell-bitcoin" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.bitcoinhaber.net/bitcoin-recovers-after-massive-liquidation-market-impact-and-opportunities" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>), indicating positive trends in on-chain metrics which could signal a price increase.</p>
<h2 style="text-align: justify" id="are-on-chain-metrics-favorable">Are On-Chain Metrics Favorable?</h2>
<p style="text-align: justify">Over the past six months, there has been a rise in active addresses and total value locked (TVL) for SOL. Despite this, Coutts noted a general decline in on-chain usage metrics, which may hinder revenue growth due to Solana’s unique blockchain dynamics.</p>
<p style="text-align: justify">Key insights from Coutts include:</p>
<ul>
 <li>Potential price target for SOL could reach between $210 and $220.</li>
 <li>Current trading price of SOL is approximately $165.</li>
 <li>Solana could trigger an altcoin season if it surpasses $160 alongside Bitcoin exceeding $70,000.</li>
</ul>
<p style="text-align: justify">The overall sentiment indicates that Solana poses a promising opportunity for traders, as highlighted by experts like Raoul Pal and Coutts, given its favorable technical indicators and solid on-chain data.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/will-solana-see-a-major-price-shift" data-wpel-link="internal" rel="noopener noreferrer nofollow">Will Solana See a Major Price Shift?</a></h5>

Will Solana See a Major Price Shift?

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