CandleFocus

Solana's path to $4,000 now open after hitting ATH

Author: Content Editor
Solana (SOL) is trading at a new record high, and technical indicators suggest that it is likely to continue rising. The cryptocurrency has completed Base 2 of its parabolic curve pattern and is now primed for a climb towards Base 3, which could see it reach the $1,000 range. There is also potential for Solana to reach Base 4 at around $4,000, which would make it one of the most valuable assets in the market. Achieving this level of valuation would require contributions from institutional players, and the potential rollout of a Solana spot ETF has been driving the current rally. The approval of such an ETF could potentially push Solana's price up to $390. However, the token's total supply is set to increase over time, which could impact its price depending on how the additional tokens are utilized. Solana is currently trading at $254.71 and is up 21% on the weekly chart.

Related News