CEO Anticipates Bullish Future for Solana
Matthew Dixon, the Founder and CEO of Evai Crypto Ratings, is optimistic about the future price outlook for Solana. He recently shared a price chart on X (formerly Twitter), indicating that the ongoing price correction for Solana has not yet concluded and further declines are expected.
Dixon predicts that the current correction will reach a similar price level as a previous correction, but to a lesser degree. However, he also anticipates that after the correction, Solana may experience another price rally.
Previous Surge and Temporary Halt
Solana recently witnessed a major surge, almost reaching $125. However, it lost some of its gains and settled below $100. Additionally, the blockchain experienced a temporary halt due to an unexpected outage, causing slight declines in SOL’s price. The network has since resumed operations.
New Upside Target Projected
Dixon has projected a new upside target of $120 for Solana. Despite the recent blackout, he believes that the cryptocurrency has positive prospects in both the short-term and long-term. However, investors should be prepared for a potential mid-term price correction.
Santiment Reports Bullish Outlook
Santiment, a global market intelligence platform, also indicates a bullish outlook for Solana. They report that Solana is dominating the altcoin market and outperforming Bitcoin. In the last 36 hours alone, Solana’s price relative to Bitcoin has increased by over 4.5%.
The outage earlier this week caused fear and uncertainty among investors, contributing to the current price rebound in Solana. At present, Solana is trading at $105.46 with a weekly increase of 4.39%, according to CoinMarketCap.
Hot Take: Solana’s Potential for Growth
The CEO of Evai Crypto Ratings, Matthew Dixon, has expressed optimism about the future price outlook for Solana. Despite the ongoing price correction and recent blackout, Dixon believes that Solana has the potential for further growth. He anticipates that once the current correction concludes, Solana may experience another price rally. Santiment, a global market intelligence platform, also reports a bullish outlook for Solana, noting its dominance in the altcoin market and outperformance compared to Bitcoin. Despite the temporary disruptions, Solana has shown resilience and positive prospects in both the short-term and long-term. Investors should be prepared for potential mid-term price corrections while remaining optimistic about Solana’s overall trajectory.
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