Solana Mirrors February Pattern: Can SOL Hit New Highs In Coming Weeks?

A crypto analyst, Jelle, highlighted Solana’s performance. He noted its resemblance to the price patterns observed in February and March earlier this year. This pattern, coupled with the analyst’s positive outlook, has sparked discussions about the potential for SOL to reach new highs in the coming weeks.

Jelle’s tweet summarized the sentiment succinctly: “SOL is still closely following the pattern from February-March. Quietly moving higher while everyone pays attention to Bitcoin and ETH. Expecting new highs in the coming weeks.”

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Solana Price Forecasts

According to Changelly, the technical analysis of Solana prices for 2024 paints an optimistic picture. The minimum expected cost of Solana is projected to be $111.45, while the maximum could soar to $161.08. The average trading price is expected to hover around $210.71, indicating a potential for significant gains.

For June 2024 specifically, crypto experts have provided more detailed forecasts based on the early year’s price fluctuations. The average SOL rate is predicted to be $186.11, with minimum and maximum prices expected at $171.70 and $200.51, respectively. These figures suggest a continued upward trajectory for Solana, aligning with Jelle’s optimistic outlook.

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The recent performance of Solana is particularly notable against the backdrop of a market heavily influenced by the activities of Bitcoin and Ethereum. While these leading cryptocurrencies dominate headlines and attract substantial trading volumes, Solana’s more understated growth trajectory might appeal to investors seeking opportunities outside the spotlight.