The spotlight in the crypto market is now on Solana (SOL), as analysts predict a possible 92% price increase. According to Ali Martinez, Solana’s trading channel indicates an upward trend, suggesting that if the current support level holds, SOL could soar to $387. Technical indicators further reinforce this bullish outlook.
Solana’s On-Chain Activity on the Rise
Solana’s on-chain metrics show significant growth, with over 5 million new addresses being created daily. This surge in network activity highlights the increasing adoption of Solana, which could significantly boost its market value.
According to Ali Martinez, maintaining the current support level is crucial for Solana’s price action. The parallel trading channel indicates that the price could break upwards, leading to substantial gains.
- Current price: $201
- Target price: $387
- Potential gain: 92%
Experts believe that the increasing number of new addresses and heightened investor interest may propel Solana’s price even higher in the coming weeks.
70,000 BTC Withdrawn from Exchanges – What It Means
While Solana is showing strong bullish signs, Bitcoin (BTC) is also making headlines. Over the past week, more than 70,000 BTC have been withdrawn from exchanges, signaling long-term confidence among investors.
Ali Martinez suggests that this BTC outflow could have a positive impact on the overall crypto market. Currently, Bitcoin is trading at $96,932, reinforcing the market’s stability.
Analysts believe that these Bitcoin withdrawals reflect a shift towards long-term storage, as investors seek to minimize risk and maximize future gains.
With these significant developments, traders and investors are closely monitoring Solana and Bitcoin, looking for potential entry points in what could be a highly profitable market move.
Stay tuned to Dey There for more updates on crypto market trends and investment opportunities.
