Analyst Johnny's Solana (SOL) Prediction Comes True
Yesterday, analyst and trader Johnny predicted in an X post that the price of Solana (SOL) “appears poised to soar.” The initial obstacle that the Ethereum killer will have to surmount, according to the post, is the $59.91 resistance level.
The analyst has designated $63.79 as the subsequent price target for SOL should it surpass $59.91. However, Johnny did establish a downside target of $51.23 for the price of the altcoin if it breaches a support zone positioned between $54 and $56.
The analyst’s forecast was accurate, as SOL has increased by over 8% in the previous twenty-four hours.
At the time of publication, SOL was trading for $60.51, as reported by the cryptocurrency market monitoring website CoinMarketCap. This occurred after the cryptocurrency’s price increased 8.1% over the previous twenty-four hours.
Despite SOL’s robust performance over the previous twenty-four hours, it could not elevate its weekly performance beyond the negative zone.
According to data from CoinMarketCap, the price of SOL has decreased by 1.75% over the previous week. In the preceding twenty-four hours, the cryptocurrency achieved its highest point at $60.76, with its lowest point at $55.84.
In response to SOL’s recent surge, it has begun to trend. As of press time, the altcoin was ranked number three on CoinMarketCap’s trending list.
This positioned it in the rankings after Celestia (TIA) and superior to Bonk (BONK).
Additionally, SOL ranked among the top twenty-four-hour gainers among the one hundred most significant cryptocurrency projects by market capitalization.
Twenty-four-hour gains-wise, Flow (FLOW) surpassed SOL. In contrast, SOL was positioned one position above Oasis Network (ROSE), owing to its price experiencing a modest 7.83% increase over the previous trading day.