Solana is trading at a low value and is estimated to return 825% on the return of the bullish market. This was stated according to an anonymous crypto analyst. The analyst spoke through his YouTube channel, InvestAnswers, to his over 444,000 subscribers.
He expects that the projection would get Solana back up to its all-time. The analyst, in his optimism, also mentioned features that could aid the asset beyond $260. He said Solana, first, has to exit the mainnet beta state.
Then importantly, the network has to fix the issues responsible for the several outages and other problems. The YouTube channel host said the continued and wider adoption of Solana depends on fixing those problems.
He stated further that Bitcoin will recover first as soon as the market becomes bullish again. The next would be Ethereum. Investors’ money would then go to other top altcoins, with Solana leading the way.
The analyst sees Solana’s returns rising three times that of the top tokens. Nevertheless, he said there are also attendant risks involved, and they might be higher.
The YouTube crypto analyst has very high expectations about the Solana token. He equally said Solana trades at about 1/16 of Ethereum’s value but it is adopted widely. But he is optimistic that Solana could rise to reach 20% of Ethereum’s market capitalization soon in the future.
Beat the Network Outage
Solana currently trades at $32.005, about 85% off its all-time high. Technical perspective reveals that the asset is currently experiencing some pressure. It broke out from a declining triangle, and that constitutes a bearish signal.
Solana’s momentum is currently weak. Importantly, its MACD indicator is under the midpoint area. The $30 price level has now become its resistance point.
It might still lower in order to find its next level of support. Probably to $26.
In comparison to its all-time high, Solana sells at a very low price. It is also a good place for investors to buy the dip. It is equally one of those crypto assets that are generally touted as Ethereum’s rivals.
If Solana happens to beat its continuous network outages, however, it could rally higher up. Then early investors would gain a massive return from their purchases.
But on the other hand, the crypto market is still bearish. Solana itself is bearish and it might continue in the short term. Investors might buy when it has better momentum.