Solana is predicted to grow by 20%

The Solana cryptocurrency (SOL) is one of the few assets whose price has been in the black over the past week. Currently, the token of the Ukrainian developer is trading at $ 103.07, according to CoinGecko, which is a 21% increase over the seven-day period.

Some experts believe that the token may be ready for further growth, including popular analyst Ali. He presented a chart in which SOL is «breaking out» of a certain downward parallel channel. The analyst claims that holding above $ 94 could lead to a price increase to $ 113.

X user Bluntz also recently joined the analysis, although he outlined a more bearish future for the asset. The analyst believes that SOL has outlined a certain trajectory called the «wave B triangle,» which indicates a possible drop to $ 70. This pattern is one of the stages of Elliott Wave Theory and occurs during the correction phase.

In the «B wave triangle,» the value of a particular cryptocurrency creates a series of lower highs and higher lows and suggests a period of consolidation before making a significant move in any direction. However, Bluntz remains unfazed by the possible downturn, seeing it as an opportunity to buy on the dip.

While the Solana cryptocurrency is showing gradual growth, the meme coin on the SOL blockchain has shown a 500% increase in a few hours. The digital asset has attracted significant community interest after it was distributed to more than a million crypto wallets. Taking advantage of the increased excitement around WEN, a smart trader successfully earned about $ 1.60 million within 14 hours.