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Solana Price Eyes Breakout To $1,000 After “Parabolic Base” Set Up
After weeks of sideways trading, cryptocurrency analysts are tapping Solana to embark on a meteoric rally in the coming days. Short-term Solana price predictions point to a climb to $150, followed by a spirited push above the $1,000 mark.
Solana Price Has Established A Foundational Base For $1,000
Pseudonymous analyst CryptoCurb is predicting a strong rally for Solana’s price, tapping the asset to surpass $1,000. According to a post on X, CryptoCurb says the push towards $1,000 will happen before the end of the year
Per CryptoCurb, several factors are in play for the rally toward $1,000 including the setting of a “parabolic base” to make the leap. Solana price has spent weeks consolidating around the $120 mark with CryptoCurb interpreting it as a ramp to clinch $1,000.
“Solana consolidating and establishing a foundational base of $120 this past year is the most bullish thing SOL could have done for hopes of tighter targets this cycle,” said CryptoCurb.
While CryptoCurb’s analysis eyes the end of the year, short-term projections predict that the Solana price is headed to $150. The prediction hinges on Bitcoin price swinging upward, a move that could see SOL rally in the coming days.
“We will definitely retest the $120-$123 range before doing a big push upwards imo,” said one analyst.
A Slew Of Positive Onchain Metrics
Solana’s ecosystem is buzzing with optimism, fuelling speculation of a potential rally in the coming weeks. For starters, network adoption has soared to new rights with SOL addresses reaching 11 million.
A barrage of SOL ETFs underscores growing institutional interest in the network, a precursor for huge price leaps for the asset. Furthermore, the Solana price received a small jolt following the bridging of $314 million from the Ethereum network.
The network is moving on from its ad backlash to strike new ecosystem partnerships. A collaboration to integrate TRX on Solana is considered a massive play in the push to a seismic rally.
In view of on-chain and ecosystem activity, dour reports of SOL price below $100 seem far-fetched as traders scan the horizon for early glimpses of a rally.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Solana is now home to the largest yield-bearing tokenized treasury following the launch of a new share class on the network. According to a press release, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) has extended support to Solana, pushing the frontier for traditional money market funds.
BUIDL Expands To Solana As It Eyes Expansion
One year after BlackRock and Securitize teamed up to roll out BUIDL, the blockchain-based money market fund has made its Solana debut. Securitize announced the development in a press release, noting the rollout of a new share class on Solana.
Following the expansion, BUIDL investors can now use the tokenized fund across Solana’s ecosystem. Securitize and BlackRock are eyeing lower transaction costs and instant settlements associated with the Solana network.
“As the market for RWAs and tokenized treasuries gains momentum, expanding BUIDL to Solana – a blockchain known for its speed, scalability, and cost efficiency – is a natural step,” said Securitize CEO Carlos Domingo.
Solana Foundation President Lily Liu stated in a press release that Solana will offer BUIDL a balance between innovation and operational efficiency. Liu cited Solana’s rising network metrics and active developer ecosystem as key reasons for the network to power the next wave of real-world assets (RWA).
BUIDL, with $1.7 billion AUM, has to stave off competition from Fidelity’s Treasury Digital Fund currently eyeing an OnChain share class on Ethereum.
Solana’s Institutional Adoption Surges To New Levels
Several institutions are tapping Solana for integrations to improve the scope of their offerings. Polymarket joined the fray with an announcement enabling SOL deposits of the prediction markets platform. Before Polymarket’s announcement, users could only fund their accounts via Circle’s stablecoin offering, USDC.
A wave of Solana exchange-traded funds (ETFs) are angling to flood the markets, a clear indicator of rising institutional appetite.
Following the BUIDL announcement, SOL currently trades at $144, sparking enthusiasm for a potential Ethereum flippening. However, daily trading volume has waned to settle down at $3.35 billion following the frantic exchange following Polymarket’s integration.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Chainlink (LINK) price has seen a significant surge after partnering with Abu Dhabi’s ADGM. This sparks a bullish sentiment signaling a major rally ahead. Experts remain optimistic about LINK’s future trends and predict that Chainlink will soon ascend to new highs.
Let’s unveil Chainlink’s recent Abu Dhabi partnership and its potential implications on the LINK price.
Chainlink (LINK) Price Sees Major Rally: Is $44 the Next Target?
Driven by recent developments, the Chainlink (LINK) price has seen a significant uptrend. With its price increasing by more than 8% in a week, Chainlink is expected to continue its bullish path.
Recently, an analyst, known on X as CW, spotted a bull flag pattern on Chainlink’s one-day chart. While $12 serves as a crucial support level for the Chainlink price, the rally past the mark indicates the token’s potential upward trend. CW also pinpointed $18 as a resistance level, predicting that if Chainlink surpasses this point, it could soar to $44.
What Moves LINK Price Up?
In the latest development within the Chainlink ecosystem, the platform entered into a strategic partnership with the Abu Dhabi Global Market (ADGM) to promote tokenization in the UAE. As part of the collaboration, Chainlink and ADGM have signed an MoU to create a secure and legally sound environment for asset tokenization in financial markets.
Significantly, ADGM will provide regulatory guidance, frameworks for secure tokenization, and expertise in asset tokenization. At the same time, Chainlink will contribute its technical expertise, blockchain-based solutions, and tokenization infrastructure.
Acknowledging ADGM’s resilient infrastructure, Angie Walker, Senior Executive Officer at Chainlink Labs Abu Dhabi, stated,
Our alliance will elevate the blockchain ecosystem in the UAE, driving greater innovation and adoption. We are excited to see projects under the purview of ADGM Registration Authority adopt the Chainlink standard, enabling seamless compliance, enhanced connectivity across markets, and highly secure on-chain services.”
Chainlink Future Trends: Analyst Insights
LINK price today traded at $15.31, up 0.31% over the past day. The Chainlink price has experienced an 8.3% surge over the past week despite a monthly decline of 14%. The 24-hour trading volume, currently at $339.14 million, has seen a slight increase of 1.59%. As per a LINK price prediction, the crypto may not witness massive gains ahead based on the current trends.
Reflecting on this positive sentiment, analysts like CW foresee a major bullish upswing. Analyst Marzell provided a detailed analysis of Chainlink presenting a weekly chart. According to him, LINK is currently trading within a clear rising wedge structure, having just bounced off the 0.786 Fibonacci level at $13.55. This level is historically a strong retracement zone.
As this surge aligns with the lower trendline support, it hints at a potential continuation of the upward momentum. If this trend is sustained, the Chainlink price could hit $25.80, $32.66, and $40.70.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Pi coin, the native cryptocurrency of Pi Network, is once again facing strong selling pressure following the rejection at $1. The Pi Coin price has tanked 5% in the last 24 hours, now trading at $0.923, with daily trading volumes crashing 30.56%, slipping under $200 million. The PI token unlocks and movement to centralized exchanges (CEXs) have led to the current selling pressure.
Pi Network Native Crypto Supply on Exchange Increases
Over the last seven days, the Pi Network native crypto Pi Coin has corrected 22% after it failed to breach past $.120 levels multiple times. This has also resulted in the cryptocurrency slipping from 11th position to now at 23rd position, while losing over $13 billion in market cap over the past month.
Pi Fails To Hold $1 Mark
Pi Coin price is failing to regain $1 as PI exchange deposits have shot up in recent days. This selling pressure comes with nearly 8 million PI tokens moving to centralized exchanges (CEXs). According to market analysts, the PiCore Team (PCT) must take urgent action to stabilize the token’s value. A proposed solution involves burning 60 to 100 million coins from the circulating supply in the coming days to prevent further price depreciation.
On the other hand, the total number of PiCoins held on CEXs has surged to over 338 million. This has further led to concerns about increased sell-offs and price volatility in Pi Network.
Where’s Pi Coin Heading Next?
A recent TradingView chart by Coinvo reveals a sophisticated trading pattern for the PI/USDT trading pair on Bitget, highlighting a potential “Triple ZigZag” formation that suggests a possible market trend reversal.
This 8-hour chart shows an Elliot wave analysis. This coupled with the “Triple ZigZag” chart specifically shows a series of corrective waves (labeled A, B, C) with the most recent waves suggesting a potential upward momentum.
Coinvo noted that as Pi Network’s Pi Coin price flirts around $0.9512, there’s a potential price appreciation happening in the coming weeks. Another market analyst TraderFy has shared a bold prediction for $PI eyeing a major breakout. “$PI is about to explode! A massive falling wedge breakout is inevitable,” he wrote sharing that the immediate price targets are $2.00529 and $2.38466.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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