The cryptocurrency market experienced minimal volatility during Saturday’s trading session, with Bitcoin holding steady above $65,000. Solana, along with other major altcoins, traded sideways and saw a slight dip of 0.37% to $157, offering a breather for buyers after a three-week rally.
A tweet from renowned crypto influencer Cold Blooded Shiller hinted at ambitious price predictions for Bitcoin, Ethereum, and Solana. He forecasted Bitcoin reaching $110,000, Ethereum hitting $6,000, and Solana surging to $370, sharing this optimistic outlook with his followers on X (formerly Twitter).
The potential for Solana’s price recovery is reinforced by the increasing total value locked (TVL) currently at $5.46 billion on DeFiLlama. This rise in TVL signifies growing trust in the network’s decentralized applications (dApps) and DeFi projects, attracting more users and funds.
In recent weeks, Solana’s price exhibited a V-shaped recovery from $120 to $156.9, marking a significant 30.78% increase. The upward momentum enabled the price to surpass key daily exponential moving averages and reflect a positive shift in investor sentiment.
With continued buying pressure, the SOL price is poised to rise by 15% before testing resistance at $180, potentially breaking out from a consolidation phase that has lasted seven months. Should a breakout occur, targets lie at $280 initially, with an extended range of $380 to $400 calculated by projecting the pole length from the breakout point.
Conversely, if Solana’s price fails to breach the overhead trendline, the current consolidation phase may persist. The insights shared in “This Solana Price Chart Pattern Forecasts SOL Could Hit $400” showcase the potential for further price movements in Solana’s market cycle.