🚀🚀🚀 Bull Season: Analyst Outlines A Breakout That Could Send Solana To $100
Solana performed extremely well during the October crypto market rally. However, crypto analyst FieryTrading believes that this may just be the beginning of the SOL price. According to the analyst, when Solana breaks the resistance at $ 38, it is heading for another 150% increase.
Pushing Solana to Past Glory
Solana went up to $ 39 the other day before losing some of her earnings. However, this did not eliminate the altcoin's upward trajectory. In fact, SOL's ongoing uptrend is playing out in fierytrading's asset estimate of up to $100.
As the crypto analyst pointed out, there is a heavy resistance for Solana right around the $ 38 level, and this has been proven by the coin's performance so far. Its first move above this level was met with resistance, which pushed it back towards $37 before resuming its rally once again.
FieryTrading calls this a “significant area of resistance” where it expects investors to start making some profit. But a break above this level shows a lot of promise for the LEFT. The analyst expects a jump above $ 40 initially, a slight pullback, and then a rise to $ 100.
A return to this $100 level means a return to the bull market levels of 2021 and essentially marks the beginning of the bull market for Solana. However, there are still some hurdles to be faced, as the Bitcoin slowdown has almost had a market-wide impact.
FTX Stash Threatens SOL Price
By now, it is no longer a secret that the bankrupt FTX exchange is one of the largest owners of Sol. And recently, the estate got the green light from the courts to start selling some of its crypto assets, and Solana is a significant asset in its stash.
