Crypto analyst Ali Marinez suggested that a metric that previously brought a 70% surge in Solana could work again.
Martinez shared his expectations about Solana, which has been the most talked-about coin in the crypto markets in recent weeks, in his analysis. He pointed out a development on the Solana chart that brought a 70% surge in the past.
Evaluating the movements of Solana in the last week based on the daily chart, the analyst mentioned overcoming the $198 resistance level, stating it as a selling zone for Solana and claimed that a move above this zone could lead the coin to climb much higher.
Highlighting the current situation to be similar to that of December 2023, he emphasized the similarities. He noted that a similar price movement in December invalidated the selling signal and brought a 70% surge until the next selling signal. Therefore, he expressed that a similar situation today could also bring about the same surge.
Last week, amid the meme coin frenzy, Solana’s price surged by 40%, reaching above $200 for the first time since November 2021. Similar to many other cryptocurrencies in the market following the drop below $63,000 in Bitcoin, Solana also declined. However, if the analyst’s prediction comes true, the coin could see new highs.
