Solana (SOL), a prominent cryptocurrency, has emerged as a major winner in the recent crypto rally by exhibiting tremendous growth, with weekly gains surpassing 60%. While expectations of a potential downside are common, one crypto analyst stands against the tide, predicting a continued breakout for the altcoin. This article delves into these optimistic outlooks that project Solana to reach new heights.

Solana To Breakout To $55:

In a shared post on TradingView, renowned crypto analyst Babenski outlines their expectation of Solana’s future price trajectory. The chart illustrates Solana’s price surge above $30, with a projected almost 100% increase from this level.

Babenski focuses on Solana’s weekly chart, recognizing the altcoin’s consistent outperformance compared to the daily chart. Notably, Solana has experienced a remarkable 60.89% increase in the former, while the latter showcases a 30.49% surge.

The analyst emphasizes the significance of a key level that Solana needs to maintain in order to sustain its breakout momentum. This critical level appears to be at $25, which the bears strongly defended before the SOL price rally commenced.

With Solana achieving its highest weekly close since the unfortunate FTX crypto exchange crash in 2022, Babenski expresses strong confidence that as long as Solana maintains the highlighted key level, the SOL price “looks very bullish in the coming days.”

SOL Bullish Contagion Spreads:

Babenski isn’t the only crypto analyst predicting an extended breakout for Solana. Another respected analyst, Alan Santana, shares a similarly bullish outlook, forecasting an even higher price target that exceeds Babenski’s $55 prediction.

Santana envisions SOL surging as high as $150, almost tripling Babenski’s top prediction. Furthermore, Santana highlights SOL’s prior consolidation period since 2022 and believes that the altcoin’s recent breakout is an incredibly positive sign.

According to Santana’s analysis, the first target on the path to $150 stands at $113. After surpassing this level, SOL is projected to continue its ascent, ultimately reaching as high as $153. The analyst emphasizes the ease and proximity of SOL’s potential towards the $150 mark.

Although Solana’s current price stands at $31.47 at the time of writing, both predictions anticipate a doubling in price from the present value. While no specific timeframes are provided, achieving these price points would necessitate Solana’s decoupling from Bitcoin’s influence, assuming Bitcoin remains the dominant cryptocurrency.

Solana, amidst the recent crypto rally, has demonstrated remarkable growth and surged over 60% on the weekly chart. Despite common expectations of a potential downside, notable crypto analysts, including Babenski and Alan Santana, project a continued breakout for Solana.

Babenski predicts a price surge to $55, while Santana goes even further, forecasting a potential soar as high as $150. Both analysts emphasize the importance of Solana maintaining key levels to sustain its bullish momentum.

While Solana’s current price rests at $31.47, achieving these projected price points would require a decoupling from Bitcoin’s influence. As the market evolves, the future path of Solana will undoubtedly attract close attention from crypto enthusiasts and investors alike.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.