Analyst says the potential of Solana to grow significantly

The cryptocurrency market is experiencing significant growth, with Solana (SOL) receiving a lot of attention. Recently, the Ukrainian developer’s cryptocurrency entered the top 10 coins by market capitalization. Arthur Hayes, co-founder of BitMEX and CIO of MaelstromFund, shared his positive outlook for the future of Solana.

On his page on the X platform, the analyst expressed his bullish stance on Solana. His comments came as SOL’s price showed resilience, bouncing from below $ 90 to over $ 100. Despite the mixed market reaction, Hayes remains steadfast in his beliefs, predicting a potential increase in Solana’s value.

Ali and Rekt Capital analysts have also recently pointed out key resistance levels, the overcoming of which may indicate a significant upward trend. Ali highlighted a bullish flag formation with $ 110 as a key resistance level. Breaking above this level could push SOL to an ambitious target of $ 163.

As for bitcoin, Arthur Hayes believes that the price of the market’s flagship will decline by at least 20−30% in March 2024 from whatever level it reaches at that time. The reason: US financial policy.

According to Hayes, BTC will return to growth right after March 20. That is the day when the Federal Reserve will provide a forecast of changes in the key rate, which is currently being prepared by the Federal Open Market Committee.