Solana Hits 7-month High But Analyst Believes SOL Is Headed to $1000
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- Solana price has broken out of a multi-week consolidation ahead of an anticipated altseason rally
- On-chain data shows whale investors have been accumulating SOL in the past few days
- The DeFi ecosystem on the Solana network has experienced explosive growth fueled by memecoins
Solana (SOL) just broke out to a seven-month high, clearing $219, and the move has analysts like Altcoin Gordon talking about a potential run to $1,000. This isn’t just a simple technical breakout; it’s a move backed by a surge in on-chain demand from whales and a booming DeFi ecosystem that’s hitting all-time highs.
The analyst argues that SOL has broken out of an ascending triangle on the daily chart, positioning it to retest its all-time high near $293.
Why Analysts Believe Solana is Headed to $1,000
On-Chain Data Shows Whales are Accumulating
The Solana network is seeing a surge in demand from its biggest players. According to on-chain tracker Lookonchain, two whales recently pulled a …
The post Solana Hits 7-month High But Analyst Believes SOL Is Headed to $1000 appeared first on Coin Edition.
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