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Analyst’s Solana Price Forecast Hints $4,000 Target

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2 weeks ago

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Solana price, a Layer 1 blockchain, has showcased exceptional growth, becoming a standout performer in the cryptocurrency market. Since early November, SOL has gained significant momentum, breaking key resistance levels amid a wider crypto rally. Over the past year, its value has surged by 218%, reflecting strong investor confidence. Despite minor dips, analysts suggest Solana’s price could climb higher, with some projecting an ambitious target of $4,000.

Can Solana Price Hit $400 According to Analyst

A prominent crypto analyst has tweeted a bold price prediction for Solana, citing a “cup and handle” chart pattern. According to the analysis, Solana could potentially reach $4,000 in the near future if the bullish structure materializes.

The analyst shared a monthly chart showcasing the formation of a classic “cup and handle” pattern. The chart suggests that Solana has been consolidating within a critical resistance zone around $260. A breakout from this range could validate the bullish thesis.

The prediction assumes Solana will break through its current resistance and rally toward higher Fibonacci extension levels. Notably, the 1.618 and 1.786 extensions, often used in technical analysis, indicate potential targets of $2,236 and $4,013, respectively. The ultimate price goal of $4,000 represents a staggering 1,861% increase from current levels.

Source: X

The Solana price could skyrocket, driven by growing interest in Solana meme coins like WIF and a potential ETF approval. Grayscale’s recent Solana ETF filing with the SEC has boosted investor enthusiasm, aligning with rising demand across altcoin markets. 

Bitcoin’s strong resistance above key levels and a resurgent crypto market fuel optimism for SOL. The upcoming U.S. presidential inauguration in January could create additional market momentum. Speculation surrounding an altcoin season, alongside increased investor activity, positions Solana as a standout performer. These factors could push SOL closer to its ambitious $4,000 target.

Solana Price Eyes More Bullish Ahead

Over the past month, the Solana price has seen a slight surge in its value. At the time of writing, the SOL price is hovering at $223.49, marking a 2.78% gain over the past 24 hours. This recent performance showcases a gradual upward trend amid fluctuating market conditions.

Despite the signs of recovery, the Solana price prediction faces challenges in overcoming the critical $262 resistance level. A breakout above this zone could pave the way for further gains, while failure to breach it might lead to a retest of the $200 support zone.

The Chaikin Money Flow (CMF) indicator has risen to 0.05, suggesting increasing buying pressure and capital inflow into the asset. The Moving Average Convergence Divergence (MACD) presents a bullish crossover, with the MACD line climbing above the signal line.

SOL/USD price chart: TradingView

Solana’s bullish momentum and strong investor interest signal potential for further growth. However, breaking critical resistance levels is crucial to achieving ambitious targets like $4,000 in the near future.

Frequently Asked Questions (FAQs)

It is based on the “cup and handle” chart pattern analysis.

Strong investor interest, ETF hype, and altcoin market demand.

Bitcoin’s strong performance boosts optimism for Solana and altcoins.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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PI

Can Pi Network Price Triple Before 2024 Ends?

Published

8 hours ago

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December 23, 2024

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Pi Network price has seen a rally of 10% amid a market resurgence over the past 24-hours. The PI price could potentially 3x before the year 2024 concludes, supported by strengthening technical indicators and the market recovery. However, rising volatility remains a critical factor to monitor closely. The recent bullish rally highlights growing investor confidence, suggesting Pi Network might continue its upward momentum in the coming months.

Will Pi Network Price 3x By End of December?

The Pi Network price is currently hovering above $48, recording a notable surge within the past 24-hours, fueled by growing excitement around its forthcoming mainnet launch. This milestone transition, set for December 31, 2024, could potentially redefine the project’s trajectory and expand its utility. 

Since its inception in 2019, Pi Network has attracted significant attention for its unique approach to cryptocurrency mining and community-driven growth. The shift from testnet to mainnet marks a pivotal development, enabling users to migrate their Pi coins to a fully operational blockchain.

With the mainnet’s launch, the ecosystem aims to unlock complete functionality, paving the way for real-world transactions and token trading. The move could solidify Pi Network’s place among notable blockchain projects.

The broader crypto market recovery, highlighted by Bitcoin hovering above $97,000, has added 

to the bullish sentiment. As Pi Network prepares to unveil its open mainnet, market analysts speculate its price could triple, bolstering optimism among investors and users alike.

PI Price Gains Momentum, Eyes Key Resistance Levels

The PI price has experienced notable movement, reflecting growing market interest. As of the latest data, the token is trading at $47.43, marking a 4.52% increase on the day. Analysts are closely monitoring the token’s trajectory within its established ascending channel.

The chart highlights a critical resistance at the $67 level, which has historically acted as a turning area for the token. Breaking this level could propel the price further into bullish territory. 

However, failure to sustain momentum might lead to a pullback toward the channel’s midline.

The histogram of MACD is seen to go upward insignificantly which is signal for a cautious optimism. Yet the RSI is neutral 47.89 implying that the tape could still trend higher or cast a pause.

The upper boundary of the ascending channel near $184 is being eyed as a potential long term target of market participants. Levels above this would mean a 254.80% rally from current prices. Support on the flipside comes in near $44, just above the channel’s lower boundary. This trend indicates strong market activity as traders weigh the token’s potential in the coming months.

Source: TradingView

Pi Network Price rally reflects huge investor confidence with upcoming significant milestones. Despite the challenges, its forthcoming mainnet launch could lead its price to multiply up to three times before 2024 ends.

Frequently Asked Questions (FAQs)

Analysts speculate it could, given bullish market sentiment.

Scheduled for December 31, 2024.

It transitions Pi to a fully operational blockchain for real transactions.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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ADA

Top 4 Altcoins to Hold Before 2025 Alt Season

Published

14 hours ago

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December 22, 2024

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The crypto market shows signs of resurgence, offering investors lucrative opportunities. These four Altcoin to Hold stand out with potential for significant growth before 2025. Backed by promising fundamentals, they are strong contenders for a surge during the anticipated bull market.

 Altcoins to Hold: XRP

XRP price has surged by 100% over the past month, reaching $2.24 during a strong market rally. Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which appears close to a favourable resolution, has significantly boosted investor confidence.

Market bulls are defending the $2.05–$2.20 support range, a key area attracting substantial buyer interest. Analysts suggest a break above $2.60 could lead to more upside momentum, with $3.00 as the next psychological target. XRP continues to shine as one of the top altcoins to hold before 2025.

Source: X

DexBoss (DEBO) 

DexBoss (DEBO), selling for $0.01 in its presale, is drawing attention from cryptocurrency enthusiasts. This memecoin stands out by combining humor with blockchain-based utility. Unlike typical short-lived memecoins, DexBoss offers a robust ecosystem featuring decentralized token swaps, staking opportunities, and exclusive NFT releases. 

Its unique approach appeals to both speculative investors and long-term holders. DexBoss’s foundation of blockchain technology positions it as more than a fleeting trend. The coin’s diverse features make it an intriguing option for those seeking innovation and potential in the cryptocurrency market.

Sui (SUI)

Sui (SUI) price has risen to $4.59, marking a 2% surge and highlighting its growing market appeal. The Layer 1 blockchain platform is gaining recognition for delivering fast, private, and secure digital asset management making it altcoin to buy. 

Known for its efficiency, Sui has seen a steady rise in Total Value Locked (TVL). Analysts view this momentum as a sign of investor confidence ahead of the anticipated 2025 altcoin season. With its innovative smart contract solutions, Sui continues positioning itself as a top contender among altcoins in the competitive blockchain ecosystem.

https://defillama.com/chain/Suihttps://defillama.com/chain/Sui
Source- DefiLIama

Dogecoin (DOGE)

Dogecoin (DOGE), a prominent meme-based cryptocurrency, recently recorded a significant price surge despite slight market corrections. The DOGE price has climbed 250% over the past year, trading at $0.332 at the time of writing. This remarkable growth underscores its rising popularity among investors and its appeal as a potential altcoin to hold before the anticipated 2025 alt season.

Notably, whale transactions involving Dogecoin have spiked, reflecting heightened activity among large holders. In late October, transactions exceeding $100,000 saw a sharp increase. This trend signals growing whale interest, which could further influence market dynamics and fuel continued momentum for DOGE’s price trajectory.

Source: Santiment

As crypto market dynamics shift, focusing on Altcoin to hold can yield substantial returns. These four assets offer growth potential, innovation, and community-driven resilience, making them a must-watch for 2025.

Frequently Asked Questions (FAQs)

XRP, DexBoss, Sui, and Dogecoin are top recommendations.

XRP shows bullish trends with potential legal clarity boosting confidence.

DexBoss offers utility through token swaps, staking, and NFTs.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Price analysis

Will Shiba Inu Price Hold Critical Support Amid Market Volatility?

Published

17 hours ago

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December 22, 2024

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Shiba Inu price, a popular meme-based cryptocurrency, has seen a significant decline over the past week amid bearish market trends. Despite minor market rebounds, SHIB’s price action indicates potential for growth as it hovers near critical support levels. Meanwhile, Bitcoin fell below $95,000, contributing to a wider downturn across the cryptocurrency market raising questions about stability amid ongoing volatility.

Will Shiba Inu Price Recover or Dip Beyond Support Line?

A crypto analyst tweeted about the potential price movement of Shiba Inu, emphasizing a critical support level. According to the analyst, Shiba Inu must maintain this support to pave the way for a possible significant price surge.

The tweet highlighted a chart indicating a key horizontal support area that SHIB is currently testing. This support zone has historically been a crucial point for price stability, marking a potential reversal zone for the cryptocurrency. If the price holds at this level, the analyst predicts a substantial upward movement could follow.

Source: X

Shiba Inu price experienced a sharp decline from recent highs, reflecting caution across the broader cryptocurrency market. Over the past week, the meme-based crypto dropped significantly, hitting lows of $0.0000185 during Friday’s session. However, a recovery followed, pushing prices to $0.000024 on Saturday before facing resistance at this level. The rebound subsequently lost momentum.

Meanwhile, most cryptocurrencies traded in the red as Bitcoin retreated after approaching the $100,000 mark. Bitcoin’s decline negatively impacted the broader crypto market, including Shiba Inu. Market sentiment remains fragile, with traders closely monitoring price movements amid broader risk aversion in digital assets.

Shiba Inu Price Analysis

As of the reporting time, the SHIB price is trading at $0.00002154, marking a 2% decline in the past 24 hours. The token’s price fluctuated within a range of $0.00002095 and $0.00002237, reflecting moderate market volatility during this period.

If the bearish trend gains more traction, the Shiba Inu price prediction indicates a potential break below the $0.00002 support level, potentially hitting $0.000019.

This comes as the cryptocurrency market continues to experience mixed signals, with SHIB facing increased selling pressure.

However, if bullish momentum builds, SHIB could rebound from current levels and aim for the $0.000025 resistance. Such a rally would depend on strong buying activity and favourable market sentiment.

The MACD indicator on the 4-hour chart suggests slight bullish divergence, hinting at a potential reversal. The histogram shows decreasing bearish momentum, which may pave the way for a short-term recovery if sustained.

Will Shiba Inu Price Hold Critical Support Amid Market Volatility?Will Shiba Inu Price Hold Critical Support Amid Market Volatility?
Shiba Inu Price Chart: TradingView

Shiba Inu price hangs in a delicate balance, with critical support levels key to its next move. Sustained buying and favourable sentiment could spark recovery, but risks of further dips remain.

Frequently Asked Questions (FAQs)

SHIB’s critical support level is near $0.00002.

SHIB’s price decline is due to bearish market trends and selling pressure.

Strong buying momentum and improved market sentiment could drive recovery.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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