Sunshine to the moon? Cryptocurrency expert predicts SOL at $90

In line with the recent rally in the overall cryptocurrency market, Solana (SOL) has followed suit, experiencing over 60% growth in the last month. Investors might be wondering what the next price target will be for this digital asset.

The importance of Solana closing above $68.2 and a $60 support level as a driving force towards the $90 threshold is highlighted in the cryptocurrency analyst’s X post. Ali Martinez on December 7th.

SOL has since surpassed this threshold and closed in a price range above this prediction, indicating a continuation of its bullish momentum for the time being.

Bullish indicators for Solana

Solana has seen some notable positive indicators in the past 24 hours as it has shown its continued upside potential through the sudden rise in its total value locked from $600 million to $833 million, according to data provided by Step data information December 8th.

Additionally, SOL has also become the second cryptocurrency by decentralized exchange volume, experiencing weekly gains amounting to 67.38% and over $3 billion in trading volume, according to information provided by The DeFi investor December 8th.

These notable achievements and the previous analysis of Solana’s potential to break the $90 threshold explain an optimistic outlook regarding the possible future price range.

Solana Price Analysis

At the time of writing, Solana price stood at $71.53, up 13.97% on the day, adding to the 16.30% gain in the previous 7 days and a more significant increase of 65.18% in its monthly chart.

This cryptocurrency shows solid fundamentals, with a price increase of 433% in the last year, allowing it to outperform 95% of the top 100 crypto assets in the same period. In particular, it outperforms Bitcoin (BTC) and Ethereum (ETH).

It is trading above its 200-day simple moving average and experienced 17 green days in the previous 30 days.

However, it is essential to note that this cryptocurrency is still below its all-time high by a considerable percentage of -72%.

Since this digital asset has shown strong performance in the recent period, along with high market capitalization and trading volume, it is essential to remember that the cryptocurrency market is very volatile and caution is advised as investors should do their research. exhaustive in allocating its resources.

Disclaimer: The content of this site should not be considered investment advice. The investment is speculative. When investing, your capital is at risk.

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