Renowned analyst Ali Martinez has predicted a historic surge, in which Solana’s price could surge by over 700% to reach $1,450 in the next four months.
Following a minor correction prompted by Bitcoin, Solana (SOL) has seen a notable recovery, now trading above $180, up to over 6.5%. For investors who bought the asset a month ago, SOL offers a return of over 30% on this value.
Renowned market analyst Ali Martinez is interested in Solana’s expected future trajectory because of this spectacular success. Martinez claimed on X that Solana’s current chart patterns were inspiring for the 2021 bull market.
Solana eyes $1,450 in potential for a historic resurgence
Martinez also drew attention to the similarities between Solana’s current candlestick pattern and the consolidation phase that preceded the trend change in July 2021. Specifically, when Solana resumed its decline in July 2021, the asset was trading at an average of $30.
Solana then trended upward and reached a high of $214 on September 9, 2021. This represents an astonishing 616% increase in just two months. After that, the token saw a slight retracement before resuming its upward movement.
Finally, Solana reached a record-breaking $260 in November of that year. In short, Solana saw growth of over seven times in just four months, from July to November.
Based on past observations, the analyst concluded that a $1,000 Solana is likely expected by November.
Source: Ali Charts
Is Solana Going to Break $1,000 This Season?
In response to Martinez’s optimistic outlook, one X user said it was probably too early to expect $1,000 Solana this year.
Solana hit its highest point of $260 in the year following Bitcoin’s halving in 2020. But Bitcoin’s value was halved just three months ago. In other words, it could take several months for the current bullish market to reach similar heights.
Meanwhile, not all market players expect Solana to cross the $1,000 milestone. According to market tracker CoinGecko, in a recent two-week survey, only 10.6% of the 2,558 respondents recommended more than $1,000 for SOL. One in four respondents, or a majority, believe Solana will reach $300 during the current bull season.
However, Solana is known for its rapid growth; with an annualized return of 637%, it now outperforms all other top-ranking assets. After Ethereum, Solana overtook BNB some time ago to take third place in the cryptocurrency market.
