Weekend Crypto Market Recap
Over the weekend, the crypto market displayed a sideways trend, with top cryptocurrencies recording minor price changes. Bitcoin price fell below the $37,000 mark, while the price of Ethereum hovered close to its crucial level of $2,000.
Overall, the market witnessed a strong uptrend this month, with many tokens adding significant value to their portfolios.
Solana’s Impressive Performance
Solana’s price exhibited a notable run, gaining nearly 50% in value within the past week, positioning it as one of the week’s top gainers. The price continues to show strong bullish price action, hinting at the possibility of another price jump soon.
Altcoin Sherpa’s Solana Price Analysis
Altcoin Sherpa, a renowned crypto analyst with over 198K followers on the “X” platform, recently shared insights on the potential targets for Solana’s price this year.
During the bullish run, the SOL price successfully broke out of its key resistance level of $47.40, resulting in a surge. The next major resistance level is set at $77.65.
Following the price pump, the token traded in a closed range for the past two days. Altcoin Sherpa considers this consolidated range as healthy, indicative of a bullish trend in the market.
Indicators show that the SOL price consistently rises in its charts. Moreover, the averages sharply rise, indicating bullish power in the market.
The analyst suggests that this is a favorable time to buy, as the SOL price is expected to reach a high of $75 in the coming weeks.