According to CryptoPotato, Coin Bureau host Guy Turner has informed his two million YouTube followers that SOL might experience a potential 35% to 45% breakout above the $300 mark. Turner's optimistic outlook is based on promising weekly and monthly charts throughout the beginning of 2024. He believes that SOL is looking 'incredibly bullish' on both timeframes, facing stiff resistance at the $300 mark. Turner paired SOL against Bitcoin to showcase an even more bullish chart, as BTC pairs demonstrate an altcoin's strength. He also highlighted the approaching Bitcoin halving, which the market expects will propel BTC to new heights.
Turner emphasized that SOL's price will be heavily influenced by the development of four upcoming milestones, as per the Solana Foundation's updated roadmap. These milestones include the release of token extensions, the launch of new validator clients like Firedancer, more institutional support, and developer engagement. Solana has surpassed $4.6 billion in total value locked across its diverse ecosystem of decentralized applications (dApps), according to data from DefiLlama. The surge comes amid a new inflow of users partially driven by the meme coin mania, with several Solana-based tokens experiencing substantial gains throughout the week. The increase in Solana's price and total value locked can also be attributed to the overall bullish sentiment coming from retailers and institutional investors alike.