Solana predicts sharp growth amid bitcoin halving

Crypto blogger Guy Turner told his two million subscribers on YouTube that Solana SOL $134.72 Solana -8.48% Market capitalization $63.12 billion VOL. 24 hours $0.63 billion could grow by 35−45% and break above the $ 300 mark.

Turner’s bullish outlook is based on the coin’s promising weekly and monthly charts. According to him, SOL looks like an «incredibly bullish token» on both timeframes, facing stiff resistance at $ 300.

The analyst compared SOL to bitcoin BTC $60,226.06 Bitcoin -2.28% Market capitalization $1.19 trillion VOL. 24 hours $2 billion to demonstrate an even more bullish chart, given that BTC pairs demonstrate the strength of Anatoly Yakovenko’s blockchain altcoin.

«With bitcoin halving right around the corner, it is likely that the price of BTC will rise. This means that a 35−45% increase in SOL compared to BTC will raise the virtual coin above $ 300,» Turner said.

The crypto analyst emphasized that the price of SOL will be heavily influenced by the development of four upcoming milestones, according to the Solana Foundation’s updated roadmap. These stages include the release of token extensions, the launch of new validator clients such as Firedancer, greater institutional support, and the involvement of developers.

According to CoinMarketCap’s analytical tracker, at the time of writing on Friday, March 29, Solana (SOL) is showing minimal dips and is trading at $ 186. The total amount of coins circulating on the market is $ 82.8 billion. Traders have made daily trading deals worth $ 2.8 billion.