Altcoin Sherpa: Solana will reach $ 500 in 2024

A cryptocurrency analyst under the pseudonym Altcoin Sherpa has made optimistic predictions about the Solana cryptocurrency SOL $144.82 Solana 1.57% Market capitalization $67.86 billion VOL. 24 hours $0.16 billion . The expert suggested that the virtual coin of Anatoly Yakovenko’s blockchain could double the current rate.

Altcoin Sherpa predicts that Solana can reach new heights this year, but situational problems will also affect the crypto asset.

«There will probably be a pullback somewhere around $ 200-$ 250, but I don’t know how deep it will be. In this cycle, I am still very optimistic, it is the best network for retail (as evidenced by meme coins). Probably $ 500 in 2024,» the analyst said.

Another crypto expert, Ali Martinez, noted in his post on the X platform: «A sell signal on the daily chart of Solana has just been canceled, hinting at a bullish outlook for SOL. It broke through the established risk line at $ 198, potentially setting the stage for a new countdown to another sell signal. This breakout is reminiscent of last December, when a similar sell signal cancellation led to SOL breaking through its risk line, triggering a significant 70% rise before the next sell signal.»

Asell signal is part of the TD Sequential indicator, a technical analysis tool used to identify potential price exhaustion and market reversal, which means that a bullish movement may continue.