Bitcoin Resurgence: Analyst Foresees $69,000 Target In Near Term

Crypto Jelle, a cryptocurrency analyst and aficionado, has expressed optimism toward the price action of Bitcoin, highlighting the potential for the digital asset to revisit the $69,000 threshold in the short term. Bitcoin Poised For Short-Term Gains Due to waning interest in the cryptocurrency market, the price of Bitcoin fell by 5.60% to $66,650. However, [...]

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Analysts Bullish on Bitcoin: Set Next Target At $82,000

Once again, the price of Bitcoin rose bullishly, breaking through the $70,000 barrier, demonstrating strength for an upward movement. Bitcoin At $82,000 Remains The Target Following the recent recovery observed today, Crypto Jelle, a popular cryptocurrency expert and Bitcoin enthusiast, has made a bullish forecast for the crypto asset, citing the $82,000 level in the short term. Crypto Jelle highlighted that after a fakeout, Bitcoin retested the cycle highs of 2021, bounced, and then broke out once more. According to the analyst, BTC now has just one more obstacle to surpass as a result of the retest. Related Reading: Are The Odds In Bitcoin Bulls Favor? These Analysts Forecast BTCs Future Furthermore, he affirms that the race toward new highs will begin when the largest cryptocurrency asset manages to break and hold over $71,500. As a result, the crypto analyst anticipates a rally soon, placing the coin’s next target at around $82,000. Jelle has addressed a pressing issue in the crypto community. He mentioned some are still concerned about the next 3% move, whereas the higher timeframe chart seems more optimistic. Thus, he has urged investors to be patient and hold onto their bags to enjoy the positive move, as the crypto asset appears to be poised for significant growth in the upcoming months. With the impending halving event anticipated to occur this month, Jelle’s prediction could develop in a short period. Halvings have historically been seen to have a significant effect on the coin. If this year’s halving mirrors past trends, BTC could surge to $82,000 in weeks and even further upward. Several analysts believe that the event could propel the price of BTC to $150,000 before the end of the year. At the time of writing, Bitcoin was trading at $70,344, indicating a 1.84% increase in the past 24 hours. Both its overall market cap and trading volume have also risen by 1.87% and 13% respectively in the past day. Speculated Price Target For BTC This Month Ever since BTC witnessed a price recovery, many bullish predictions have surfaced concerning its next trajectory. Another analyst who has predicted BTC to reach above the $80,000 range is Adrian Zidanic. Related Reading: 12 Days Until Bitcoin Halving: Why $100,000 Isnt Much Further Away During an episode on Thinking Crypto, Tony Edward the show’s host, drew attention to Zidanic’s prediction, in which the expert pointed out a bullish ascending triangle that is emerging in the Bitcoin chart within this consolidation phase. Zidanic foresees a breakout occurring shortly, with $86,500 as his target price. Although his projections acknowledge a greater likelihood of a positive scenario unfolding within the month. Examining the chart, Edward expressed his optimism that the aforementioned price could manifest post-halving. Edward believes it could move further to $90,000, underscoring his price range between $85,000 and $90,000 and urging the community to be patient. Featured image from iStock, chart from Tradingview.com

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Analyst Cites Key Indicators That Signal Bitcoin Correction

The price of Bitcoin witnessed a pullback on Tuesday amid a general bearish sentiment around the crypto market, after the digital asset reached the $69,000 threshold. Bitcoin Might Undergo Further Correction Following the correction, several predictions of a further decline in the price of Bitcoin from top crypto analysts have surfassed. Cryptocurrency analyst and trader Ali Martinez has highlighted a few indicators that suggest a continuous retracement in price. Related Reading: Bitcoin Extreme Greed At Levels Higher Than Nov. 2021 Peak, Top Signal? Martinez took to the social media platform X (formerly Twitter) to share his projections with the crypto community. According to Ali Martinez, on the daily chart of Bitcoin, the Tom DeMark (TD) Sequential indicator presently “flashed a sell signal.” The crypto analyst believes that this development deserves to be closely monitored. This is because the indicator “boasts a solid history of predicting Bitcoin trends” since the beginning of the year. He further pointed out that the indicator suggested a buy signal earlier in January, which was followed by a 34% rise in Bitcoin’s price. In addition, in the middle of last month, the indicator also suggested a sell signal, after which Bitcoin plummeted by over 4%. With the TD Sequential presently developing a sell signal, BTC might be poised to undergo a correction in the short term. However, there is no guarantee that the price of BTC will see a correction following the signal. Martinez also underscored the accuracy of the pointer in predicting BTC’s price movement, which he believes to be “remarkably insane.” In a previous projection, Martinez asserted that BTC has declined by “1.5% to 4.7%, each time the indicator recommends a selling” since February 15. As a result, short-term traders should carefully observe the trend in order to position themselves for future gains. So far, some market watchers feel that Bitcoin’s retracement was necessary, and they perceive the fall as a positive move. BTC Could See A 20% Drop This Time Around Martinez is not the only expert that has predicted a pullback in the short term. Crypto Jelle has also shared his negative forecast for BTC, pointing to a 20% price correction. Related Reading: Bitcoin Crossroads: Analyst Identifies Level Set To Determine Next Move Jelle noted as BTC moves towards its all-time high of $69,000, “there will be downturns along the way.” He further stated that this “time around,” it seems BTC might decline by 20%. Thus, the crypto analyst has urged not to be shaken by the outcome while telling them to “take advantage” of the development when it occurs. This is because Jelle believes that the key to making it in the crypto space is patience. Currently, the price of Bitcoin is down by over 2% in the last 24 hours, trading slightly above $66,000. Despite the price drop, its trading volume is up by over 37%, while its market cap is down by 2%. Featured image from iStock, chart from Tradingview.com

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Bitcoin Price Suffers Bearish Deviation After Filling CME Gap, Is This Good Or Bad?

The Bitcoin price is struggling to recover from recent declines, as the market downtrend has kept it significantly below the $100,000 mark. Amidst this volatility, Bitcoin is experiencing a bearish deviation that is filling a new Chicago Mercantile (CME) Gap. This has triggered a fresh prediction from a crypto analyst who believes that the pioneer cryptocurrency is set for a higher high. Bitcoin Price To Form Higher Low As CME Gap Fills Crypto analyst Rekt Capital took to X (formerly Twitter) on Monday to share his projected outlook for the Bitcoin price. The analyst highlighted that Bitcoin is currently undergoing a bearish deviation, which is filling a massive gap on the CME futures chart. Related Reading: Crypto Pundit Who Correctly Called The Bitcoin Price Surge From $15,400 To $100,000 Reveals Whats Next CME gaps are disparities between closing and opening prices in the Bitcoin futures market. They appear when Bitcoins price moves as the exchanges close over the weekend and reopen on weekdays. Over the past few days, Bitcoin has been filling its new CME gap amidst the broader market downturn. This downward move was expected, as the Bitcoin price often gravitates toward unfilled CME gaps before resuming regular activity. Despite Bitcoins present bearish deviation, Rekt Capital believes that the downtrend could present an opportunity for the market to form new higher lows. The analyst shared two charts, with one revealing several resistance and support zones for the Bitcoin price. The orange and yellow boxes in the chart suggest strong support areas where Bitcoin has historically bounced, while the blue boxes highlight past resistance areas. In the second chart, Rekt Capital showcases repeated breakout patterns, where BTC consolidates and then initiates a surge. If the cryptocurrency can make the expected higher low above last weeks low, this could confirm that Bitcoins broader uptrend may still be intact. Conversely, if it fails to hold above support levels and declines again, the market may see a more resounding crash, potentially triggering sell-offs and exacerbating the bearish trend.  Analyst Foresees A Move Towards $95,000 Not too long ago, Bitcoin shocked the market, skyrocketing by more than 9% in one day and surging back above the $90,000 mark. According to X crypto analyst Jelle, this massive price surge was the higher low the market was anticipating. Related Reading: Analyst Reveals When Bitcoin Price Will Reach $180,000 The analyst suggests that the surge has paved the way for BTC to build a more solid base and slowly make its way toward the $95,000 mark. While the price of BTC currently trades at $87,596 and faces bearish pressures that have triggered multiple price crashes, Jelle believes that the cryptocurrency can overturn bearish conditions and initiate a recovery.  As of this writing, it appears Bitcoin may be slowly recovering from the bears. The cryptocurrency has surged by 5.3% in one day, and its market capitalization is also up by the same amount despite its declining trading volume. Featured image from Unsplash, chart from Tradingview.com

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Bitcoin Pullback Has Ended? Analyst Declares Worst Is Over

After a stunning retrace, Bitcoin witnessed a notable recovery as Wednesday closes rising from the $61,000 price mark to $67,000, triggering hopes within the cryptocurrency community that a bullish movement might be imminent. However, the crypto asset has not exactly returned to the point it was a week ago, especially since BTC reached a new all-time high last week when it surged beyond $73,000. Bitcoin Correction Has Bottomed Out With Bitcoin surpassing its previous all-time high and rising even further to set a new peak of $73,000, March has been a momentous month for the cryptocurrency. And following the recent recovery, several cryptocurrency experts and traders believe that the recent price correction has reached rock bottom. Related Reading: Hold Your Horses: Buying The Crypto Dip Is Still Too Early Warns Top Analyst Heres Why Crypto analyst and enthusiast, Crypto Jelle has offered a positive prediction regarding the price action of Bitcoin and its potential to move upward. His analysis delves into the current state of BTC’s price and the possibility of the retracement coming to an end. According to Crypto Jelle, the average correction in “this bull market is almost 20%.” Meanwhile, the pullback is “roughly 18% deep” presently. As a result, Jelle believes that “we have most likely witnessed the worst of the drop,” suggesting that the price might be ready to undergo full recovery.  Jelle claims that the fall “should be bottoming out” any moment from now. However, this might not be happening soon, since “these things take time to form,” urging the crypto community not to rush it. The post read: The average pullback in this bull market is almost 20%. Since the current downturn is just about 18% deep, the worst is most likely behind us. Although these things take time to form, the bottom should be close. Do not rust it. In another X post, Crypto Jelle noted that the market has once again begun to “display signs of a local bottom.” Due to this, the largest cryptocurrency asset by market cap still has “work to do.” Crypto Jelle anticipates Bitcoin to hold above the $65,300 threshold, in order for the price to “regain that 2021 bull cycle peak.” Additionally, when his forecast takes place, he believes that prices “will be off” in the upward direction in no time. Amount Of BTC To Buy Using DCA Strategy As Bitcoin continues to struggle, crypto analyst Ali Martinez has underlined the amount of BTC to purchase within specific price levels using the Dollar-Cost Averaging (DCA) strategy. Related Reading: Bitcoin Pre-Halving Dip Expected: Will BTC Rally Before US Fed Decision? According to Martinez, when BTC is within the range of $65,130, $64,130, $63,130, and $62,130, investors should buy 0.5 BTC. Meanwhile, at the $61,130, $60,130, $59,130, and $58,130 levels, investors should acquire about 0.65 BTC. Furthermore, around $57,130, $56,130, $55,130, and $54,130, Martinez advocates the acquisition of 0.8 BTC. Lastly, a portion of 0.95 BTC should be purchased around $53,130, $52,130, $51,130, and $50,130. At the time of writing, Bitcoin was trading at $67,299 on the daily timeframe, indicating an increase of over 4%. Its market cap has risen by 4.97% in the past day, while its trading volume is down by over 12%. Featured image from iStock, chart from Tradingview.com

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Solana Smashes Major Resistance Levels, New All-Time High Imminent?

With previous price achievements, Solana (SOL) has become one of the biggest cryptocurrencies in the market, garnering the attention of investors and traders as its price continues to rise, hitting a new yearly high of $172. Solana (SOL) Breaks Through All Critical Levels Solana has effectively reached a new 25-month high, reflecting a strong positive interest from crypto investors within the sector. Due to this, several market experts are predicting that the crypto asset reaching a new all-time high is on the horizon. Related Reading: Solana (SOL) Price Primed For 50% Leap: Experts Turn Bullish Crypto Jelle, a cryptocurrency trader and analyst has shared his insights on Solana’s latest rally on X (formerly Twitter) while noting the significance of the development. The crypto analyst pointed out that “SOL has surpassed every significant level preventing it from reaching new all-time highs.” This suggests that the digital asset could reach a new peak in the short term since there are only minor resistance levels ahead. Jelle is optimistic about Solana, asserting that he has been able to “hold SOL with ease ever since it was at $20.” Furthermore, he mentioned that he “does not have any plans of selling” his SOL holdings anytime soon, demonstrating his belief in the coin to soar higher. As Solana continues to rally, Jelle is confident that the asset will attract a lot of new retailers or investors. In addition, purchasing SOL serves as their entry point to position themselves for future gains. The post read: SOL has broken all major levels standing in the way of new all-time highs. I have been comfortably holding this one since $20, and I do not plan on selling it anytime soon. New retail will flock to Solana tokens, and buying SOL is their entry ticket. According to Crypto Jelle, SOL is one of the largest assets in his crypto portfolio alongside Injective (INJ). Jelle asserted that both crypto assets are currently moving in an upward trajectory, signaling the start of their bull run. Furthermore, he claims that SOL and INJ have reclaimed the top spot as the “altcoins market leaders.” Consequently, every other altcoin “will follow their lead” in this bull cycle. $208 Resistance Level Might Be Revisited Rekt Capital, a crypto expert has pointed out Solana’s potential to revisit the $208 resistance in the short term. At first, he underscored that the SOL is demonstrating strength similar to that of the 2021 bull cycle. Related Reading: Solana Open Interest Plunges 20%: What It Means For Price Since the digital asset broke out from the green zone, it has increased by over 118%. It has also increased by over 53% ever since it broke out of the Ascending Triangle. Due to this, he believes the “$208 resistance level might be tested again” in the coming months. So far, SOL has climbed by over 23% in the past week, indicating a rise in buying pressure in the crypto market. Featured image from Shutterstock, chart from Tradingview.com

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Analyst Labels Bitcoin Rally Strongest Pre-Bull Cycle Yet

The entire cryptocurrency space is fueled with excitement as the price of Bitcoin rallied today, demonstrating immense resilience, reaching the $59,000 threshold and even further in the past 26 months. Bitcoin Rally Kicks Off The Strongest Pre-Bull Cycle So Far Bitcoin is currently in the limelight as the crypto asset continues to rally, leading to several analysts identifying the surge as the start of the “biggest bull cycle ever.” Analyst and trader Crypto Jelle has labeled the recent uptick as the “strongest start to a new cycle” as his analysis examines the strength of BTC‘s surge. Related Reading: Bitcoin Fast Approaching $60,000 As BTC F&G Index Hits Extreme Greed Details Jelle claims this resulted from Bitcoin’s latest “break out from the 0.618 Fibonacci retracement.” According to the analyst, “this marks the first time” the asset has made this kind of move “before the Bitcoin Halving event happens.” He also claims that with the ongoing rally, it seems like the market is “in for a new regime,” he believes things will play out “differently” in the market from how they usually do. The post read: This is the first time Bitcoin breaks that 0.618 Fibonacci retracements before the halving event even takes place. By far the strongest start to a new cycle, ever. Looks like we are in for a new regime, where things work a little different than how they used to. The analyst claims that a shift in the narrative is ushering in a “new era of dynamics in the cryptocurrency landscape.” As a result, “exciting moments await” the space in the future. Crypto Jelle declared that nothing can stop Bitcoin at the moment. “With BTC rising by another 2% in the past few hours, there seems to be no stopping it right now,” he stated. Additionally, most of yesterday’s gains occurred outside the Exchange-Traded Funds’ trading hours. However, the analyst is waiting to see if they will “force boomers to pursue price.” BTC ETFs See Massive Inflow Research company BitMEX reported that Bitcoin Spot ETFs have seen increased adoption, witnessing a massive surge in daily inflow. Data from the platform shows that ETFs have witnessed a significant inflow of 10,167 BTC valued at $576.8 million. Related Reading: Bitcoin Spot ETFs: Issuers Set New Record As Weekly Inflows Cross $2.2 Billion BitMEX underscored that Blackrock’s iShares BTC ETF (IBIT) made up $520 million of the total inflow. Consequently, this marks the highest inflow the company has seen since the products were approved.  So far, Blackrock’s asset holdings have risen to over 141,000 BTC, and its net inflow sits above $6.5 billion. Currently, Bitcoin is trading at $59,254, indicating a rise of over 4% in the past 24 hours.  Featured image from iStock, chart from Tradingview.com

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Bitcoin Rally: Crypto Analyst Says New Peak Is Within Arms Reach

With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge. New All-Time High For Bitcoin Is Within An Arms Reach In a recent development on the social media platform X (formerly Twitter), Cryptocurrency analyst and investor, Crypto Jelle, has shared a bold prediction regarding Bitcoin – the leading crypto asset. Related Reading: Bitcoin Bullish Outlook: Analyst Predicts Near-Term Surge To $61,000 The crypto expert’s analysis came in light of the bearish speculations within the community around the price action of BTC. According to him, many people are discussing the bearish signs, pullbacks, and corrections that BTC could witness in the near future. However, Crypto Jelle has asserted that despite the negative sentiments it “does not change anything about the bigger picture” for BTC. Furthermore, he has urged investors to “stick to the plan,” noting that a new all-time high is just “within arms reach.” The post read: Lots of people talking about bearish signs, pullbacks, and corrections, but these things change nothing about the bigger picture. Stick to the plan, all-time highs are within an arms reach. Jelle has also highlighted another reason why he is bullish on Bitcoin and sticking with the digital asset. In another X post, Jelle stated that BTC is still holding above $50,000, with the entire crypto market cap approaching $2 trillion. Nonetheless, the “average Joe still does not care,” prompting him to believe that “the cycle is not over” yet. He further pointed out that there will be lucid indications that retail is about to flood the market. As a result of this, Bitcoin is set to witness higher adoption as search interest for BTC will surge higher. Jelle anticipates that during this time, American-based crypto exchange Coinbase will return to its top spot in the app store. BTC Compared To Warren Buffett’s Berkshire Hathaway Stock Lately, a lot of market experts have appeared to be bullish about Bitcoin. One of these is Max Keiser, a BTC advocate, who has compared the crypto asset to the well-known Warren Buffett’s Berkshire Hathaway Stock. Related Reading: Crypto Platform Which Predicted Bitcoin To Reach $50,000 Has Released A New Target According to Max Keiser, acquiring BTC today is just like buying Berkshire Hathaway shares in its initial days. It is noteworthy that during its earlier days, the stocks were sold for $1,500 each, which is now being sold for $628,000. With this comparison, Keiser advocates that BTC could potentially rise by over 41,000% at its present price of $51,000.  This price of Bitcoin is down by over 2% in the past 7 days, currently trading at $51,147. CoinMarketCap’s data shows that its market cap is down by 0.86%, while its trading volume is up by over 6%. Featured image from iStock, chart from Tradingview.com

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Bitcoin Bulls In Jeopardy? Analyst Sounds Warning Of Possible Retest

Bitcoin has been on a bullish trend, reaching $50,000 for the first time in two years, but some crypto analysts still anticipate that the token might be gearing up for a potential correction. Bitcoin Could See A Pullback At Any Moment According to the recent analysis by cryptocurrency expert Crypto Jelle, Bitcoin could undergo a retest anytime soon. Jelle shared his latest projections with his thousands of followers on the social media platform X (formerly Twitter). Related Reading: The Bitcoin Big Money Algos Are Here: Will BTC Breach $70,000? A chart of Bitcoin accompanied his X post to demonstrate his observations and further back up his claims visually. Crypto Jelle’s analysis examines the current and past position of Bitcoin and has identified the presence of a “rising channel.”  He stated that Bitcoin has been in this rising channel “over the past 6 years.” He further pointed out that the crypto asset is not breaking out of the “channel anytime soon.” Due to this, Crypto Jelle believes that the price of BTC might witness a “retest of the mid-range.” Thus, he has urged investors to get involved with the token to increase prices and avoid the impending pullback. The post read: Bitcoin has spent the past 6 years inside this rising channel. Doesn’t look like that’s going to change anytime soon. In fact, it seems about time for a retest of the mid-range. Send it higher. Jelle has also underscored the potential for the digital asset to soar higher to a new all-time high. In another X post, he highlighted that today is “one of those days to recall the part of the cycle we are in.” Jelle has underlined two distinct timeframes for Bitcoin, which include the lower timeframe and the higher timeframe. He asserted that in the lower timeframe, BTC’s performance looks like “dog poop.” Meanwhile, in the higher timeframe, BTC’s performance looks promising, suggesting a move to a new price level. Jelle appears bullish on Bitcoin as he has encouraged the community not to be “shaken out” of the market. Massive Sell-Off By BTC Whales Despite the upward momentum, reports have revealed a significant selling spree from BTC whales. Ali Martinez, a well-known crypto analyst, reported Tuesday’s development on the X platform. Related Reading: Bitcoin Whales Steer Clear Of Significant Short Positions, Show Confidence In Price Surge Per Martinez’s post, Bitcoin whales might lose their confidence in the token. Martinez asserted that whales have sold over 30,000 BTC valued at $1.56 billion in the past 2 days. The report has sent quite a frenzy in the community, leaving crypto enthusiasts to ponder the impact of the sell-off. However, it is believed that this could be a notable development, indicating the start of a distribution phase, which could extend the low timeframe bearish action.  Featured image from iStock, chart from Tradingview.com

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Bitcoin Bulls Persists: Analyst Identifies Trend As Catalyst To $60,000

As the entire cryptocurrency market is currently experiencing a notable upward trajectory, several market analysts are anticipating more gains for Bitcoin, the leading cryptocurrency asset, as they predict the token’s price to go even higher. Historical Trend That Will Send Bitcoin To $60,000  Crypto Jelle, a cryptocurrency analyst and investor, has expressed his optimism toward Bitcoin’s price action. Jelle recently shared a positive prediction for BTC in the near future on the social media platform X (formerly Twitter). Related Reading: Crypto Analyst Says Bitcoin At $100,000 Not Far Off, Heres When The expert’s projections delve into the present price movement of Bitcoin and its potential to increase even further. He highlighted a trend which serves as a catalyst for a price increase. Jelle’s X post was accompanied by a chart that shows that the crypto asset has formed a “Bullish Megaphone” pattern. According to him, this is “yet another bullish megaphone pattern,” suggesting the price will go higher, putting his price target at $60,000. If Bitcoin manages to maintain its current momentum amid the crypto market’s rally, it is possible that BTC’s price might reach $60,000. In another X post, Jelle also pointed out that the token is presently in an area in which it normally sees the best gains. Jelle revealed that the BTC always experiences the best return when its “weekly Relative Strength Index (RSI) is above 70.” Due to this, he has urged his thousands of followers to invest significantly in the token to position themselves for more gains. BTC finished the previous week on a bullish note, staying put above the $52,000 threshold in the face of strong opposition. This simply suggests a strong faith and dependency on the digital asset from investors. After going past the $52,000 level, it set a new weekly culmination record spanning two years. Because of Bitcoin’s tenacity and upward movement, investors and market watchers are anticipating what lies ahead. Massive Whale Moves Amid Price Rally In light of BTC’s rally, Whale Alert has reported massive whale transactions carried out hours ago. Whale Alert revealed that around 18,484 BTC valued at about $962 million were taken out of the decentralized exchange Coinbase. Related Reading: Bitcoin Whales Increase Holdings By 4.5%, Getting Ready For Rally? The on-chain tracker reported that the aforementioned withdrawals were carried out in two distinct transactions. Whale Alert noted that the first transaction saw 9,322 BTC worth approximately $485 million being withdrawn from Coinbase. Meanwhile, the second transaction witnessed 9,162 BTC valued at about $476 million being extracted from the same exchange. Both wallet addresses involved in the withdrawal appear to be new ones, as they had no previous transaction history. As of the time of writing, Bitcoin was trading at $52,336, indicating an increase of over 9% in the past 7 days. Despite the price rise, its trading volume appears to be down by over 10% in the past 24 hours. Featured image from iStock, chart from Tradingview.com

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Solana Forms Ascending Triangle For Possible Breakout, Analyst Sets $565 Target

Crypto analyst Trader Tardigrade has drawn the communitys attention to a bullish pattern that has formed for Solana. Based on this pattern, the analyst predicted that SOL could witness a parabolic rally to a new all-time high (ATH) and provided a target that the crypto could reach.  Solana Could Rally To $565 As Ascending Triangle Forms In an X post, Trader Tardigrade predicted that Solana could rally to $565 following the formation of an ascending triangle. He noted that SOL has been forming ascending triangles before each recent breakout. The analyst added that Solana reaches its target at  Fibonacci 2.618 after each breakout.  Related Reading: Solana Price Will Complete 1,800% Surge To $4,000 With This Formation: Analyst In line with this, Trader Tardigrade predicts that Solana can reach $565 once this ascending triangle completely forms. The analyst revealed that the current ascending triangle is more than halfway complete, indicating this parabolic rally could soon happen. His accompanying chart also showed that SOL could reach this price target as early as April.  Asset manager VanEck also recently provided a bullish outlook for Solana, predicting it can reach $500 by year-end 2025. The asset managers analysts explained that this projection is supported by Solanas developer dominance, increasing market share in decentralized exchange (DEX) volumes, revenues, and active users.  Meanwhile, crypto analyst Ali Martinez suggested that Solana couldnt rally to as high as $500 but predicted it could reach at least $350. However, he warned that SOL needs to hold above the support level at $198. In a more recent X post, he also raised the possibility of Solana reaching $380.  The analyst stated that Solana is testing a key support level at the lower boundary of the parallel channel he highlighted on the charts. According to him, holding above this support level could strengthen the uptrend, fueling a rally to $387.  SOL Needs To Reclaim The $220 Level In an X post, crypto analyst Jelle stated that the first mission for Solana is to reclaim $220. This came has he noted that SOL is holding the key support level so far. The analyst indicated that it would be ideal for SOL to bounce from its current level if its price action is to remain short-term bullish. In line with this, he remarked that the first mission is to reclaim $220.  Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible Crypto analyst CryptoElites asserted that Solana is preparing for a massive move. The analyst revealed that the 2021 downtrend has been broken, and SOL is holding above it. Based on this, he outlined $450, $678, and $1,099 as his targets for Solana in this market cycle. The analyst again reaffirmed that the technical outlook is fully positive with big moves ahead.  At the time of writing, the Solana price is trading at around $202, down over 1% in the last 24 hours, according to data from CoinMarketCap. Featured image from Unsplash, chart from Tradingview.com

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