Crypto Analyst Predicts Potential Solana Drop Followed by Major Rally
A well-known crypto analyst has forecasted that Solana (SOL), an Ethereum rival, might first experience a significant drop before surging to new record highs.
Kaleo, a pseudonymous crypto trader, suggests that Solana could fall to around $80—a decline of over 36% from its current price of $125.
80s***, new all time highs. https://t.co/utDRoQkUvQ pic.twitter.com/V5x3ZchvKK
— K A L E O (@CryptoKaleo) September 6, 2024
However, he expects SOL to rebound and potentially exceed $263 in the future.
In addition, Kaleo warns that Bitcoin (BTC) might drop to approximately $42,500, marking a decline of more than 21%.
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He also anticipates a substantial breakout for Bitcoin following the US presidential election on November 5, 2024, with a possible rise beyond $88,000 in early 2025.
Alright bros, still believe we range through the election and rip after – but starting to look like my IHS theory is invalidated (at what was initially my target buy price).
Why? Equities look like they still have a decent move lower left in them and I don’t see… https://t.co/BHgSZPiqkf pic.twitter.com/og81yzCFI7
— K A L E O (@CryptoKaleo) September 6, 2024
Kaleo notes that his initial predictions might need revision due to current market conditions, including potential further declines in equities which could impact Bitcoin and altcoins.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
