Crypto analyst Michaël van de Poppe, notorious for his predictions, is planning how high Ethereum rival Solana (SOL) can rise after experiencing explosive growth in 2021. According to the analyst, if the cryptocurrencies can reach a market cap of $ 10-15 trillion, the altcoin SOL price will potentially target $595. Here are the technical levels…
Van de Poppe shares his rally predictions
In a recent strategy session, Van de Poppe said that Tier-1 smart contract platform Solana (SOL) is taking advantage of some of the Ethereum platform’s limitations, such as high transaction costs and scalability issues. The crypto strategist thinks that the overall crypto markets are in a bullish trend towards 2022 and if Solana can successfully break above the $193 zone, the altcoin could surpass previous ATH levels. Poppe shares his predictions for the sequel:
The two levels I personally watch are $410 and $650. But imagine a sweeping bull market where Bitcoin will make a big breakout and the entire cryptocurrency market cap will make a big breakout. We may be seeing an extreme big rally for Solana where we made this run, it could lead to higher prices. We might even reach $1,000 or $1,500, and this is the end of the bull.
At the time of writing, Solana was down 5.05% on the day to $190.97. The fifth-ranked cryptocurrency rose ballistics this year, climbing from $1.52 to a November high of $258.63 before correcting to its current price.
Analyst expects 5x market-wide for targets in altcoin Solana
Although Van de Poppe, whose analysis we have quoted as Somanews, shares his upward forecast for SOL price as $600, he says that the altcoin market must reach 5 times before SOL reaches $1,000. The charting guru thinks that if the crypto market continues to grow, there is no reason why Solana can’t do 3x against Bitcoin (BTC). Regarding the SOL/BTC trading pair, the analyst says:
Looking at a price forecast, if the market is going to expand itself to $10 to $15 trillion, it should be another 5x normal in Solana because that’s just the average of its entire market. But if we are looking at a Fibonacci levels, we can see ourselves running towards 0.0071 BTC ($352.62) or potentially 0.012 BTC ($595.97).