Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Solana has performed exceptionally well in the October crypto market rally. But crypto analyst FieryTrading believes that this might just be the beginning for the SOL price. According to the analyst, once Solana breaks the resistance at $38, then it is headed for another 150% increase. Pushing Solana To Past Glory Solana already made its way through to $39 over the last day before losing some of its gains. But this has not eliminated the bullish trajectory of the altcoin. In fact, SOL\u2019s continued uptrend plays into FieryTrading\u2019s prediction for the asset which puts it at $100. Related Reading: Galaxy Digital and Invesco Bitcoin Spot ETF Join BlackRock On The DTCC As the crypto analyst points out, there is heavy resistance for Solana just around the $38 level and this has been proven by the coin\u2019s performance so far. Its initial move above this level was met with resistance that pushed it back down toward $37 before resuming its rally once again. FieryTrading refers to this as an \u201cimportant area of resistance\u201d at which he expects investors to begin some profit-taking. But a break above this level holds a lot of promise for SOL. The analyst expects an initial bounce above $40, a slight retrace, and then a surge to $100. Source: Tradingview.com Returning to this $100 level would mean a return to the 2021 bull market levels, essentially signaling the start of the bull market for Solana. However, there are still some obstacles to face as the Bitcoin slowdown is having a near market-wide effect. FTX Stash Threatens SOL Price By now, it is no longer a secret that the bankrupt FTX exchange is one of the largest holders of SOL. And recently, the estate got the green light from the courts to start selling off some of its crypto holdings and Solana is a prominent asset in its stash. As NewsBTC reported, the FTX estate recently unseated a soul of 1.6 million SOL tokens worth over $42 million. Now, there hasn\u2019t been any indication of what FTX plans to do with these tokens but the likely outcome is that the estate will start selling the tokens on the open market. Related Reading: Top 5 Bitcoin-Like Altcoins That Could Make You A Millionaire In The Crypto Bull Run If this happens, then investors should expect significant selling pressure on the SOL price which could send it back down toward $30. This FTX stash remains one of the most bearish indicators for the altcoin that could stop its rally dead in its tracks. Nevertheless, Solana is still seeing a lot of interest from large institutional investors. CoinShares reported that Solana inflows from last week came out to $23.9 million, bringing the total SOL assets under management (AuM) to $214 million. SOL breaks $38 resistance | Source: SOLUSD on Tradingview.com Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":558604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[12837,86420,89766,86410,83627],"class_list":["post-558594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-sol","tag-sol-price","tag-sol-price-performance","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\n
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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bull Season: Analyst Outlines Breakout That Could Send Solana To $100","url":"http:\/\/ktsl888.com\/news\/solana\/crypto-analyst-solana-to-100\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/crypto-analyst-solana-to-100\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/shutterstock_1697879809-1-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/shutterstock_1697879809-1-Small.jpeg?fit=320%2C214"},"articleSection":"Solana","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["sol","sol price","sol price performance","solusd","solusdt"],"dateCreated":"2023-11-01T17:00:35Z","datePublished":"2023-11-01T17:00:35Z","dateModified":"2023-11-01T17:00:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bull Season: Analyst Outlines Breakout That Could Send Solana To $100\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/crypto-analyst-solana-to-100\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/crypto-analyst-solana-to-100\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1697879809-1-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/shutterstock_1697879809-1-Small.jpeg?fit=320%2C214\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"sol\",\"sol price\",\"sol price performance\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2023-11-01T17:00:35Z\",\"datePublished\":\"2023-11-01T17:00:35Z\",\"dateModified\":\"2023-11-01T17:00:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/11\/shutterstock_1697879809-1-Small.jpeg?fit=320%2C214","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/558594"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=558594"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/558594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/558604"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=558594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=558594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=558594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}