The cryptocurrency market is experiencing a slight correction. Bitcoin (BTC) fell below $64,000 after briefly climbing to the $66,000 level last week. Solana (SOL) followed the same trend, dipping 0.9% in the daily charts.
Despite the correction, the asset is up 6.6% in the weekly charts, 18.2% in the 14-day charts, and 16% over the previous month. SOL is also among the best-performing assets of the last year, rallying 629.6% since October 2023.
While SOL’s current rally is commendable, one analyst anticipates the asset will continue surging.
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Solana Predicted To Rise 5x
According to X user MartyParty, SOL has “been consolidating organically at $150 for 225 days.” The analyst predicts the asset will grow 5x before Q4 2025, about a year from now. Growing 5x from current price levels will take the asset to around $776. Hitting $776 from current prices will translate to a rally of about 400%.
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Sell all your #Ethereum, #Cardano and #Polkadot now before the FTX distributions.
— MartyParty (@martypartymusic) September 29, 2024
Enter it into @solana and @SuiNetwork. $SOL $SUI
Proportions are up to you but if you dont you will look back at this post and feel unhappy later.
These 2 technologies are the only 2 that have…
Can The Asset Hit $776 Next Year?
According to Changelly analysts, SOL will not breach the $700 mark next year. The platform predicts SOL to trade at a maximum price of $202.05 before Q4 2025. Changelly, researchers do not expect SOL to hit $776 till at least February 2029, about five years from now.
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The researchers from Telegaon also paint a similar picture for Solana (SOL). The platform anticipates the asset to breach the $700 mark in 2029, eventually hitting $776 sometime in 2030, about six years from now.
SOL may hit the $776 target next year, but several factors need to be fulfilled for it to do so. Market sentiment must be high, and a bull run must be implemented.
