Predictions on Solana and Bitcoin from a Popular Crypto Analyst
A famous crypto analyst has made noteworthy predictions about the future of Solana (SOL), a competitor to Ethereum (ETH). The analyst forecasts that Solana will first experience a double-digit correction and then enter a significant rally to record a new all-time high (ATH). Here are the analyst’s detailed predictions…
Kaleo: Predictions about the Future of Solana
A crypto investor known by the pseudonym Kaleo stated to his 645,400 followers on the social media platform X that Solana could drop more than 36% from its current value. The analyst made a striking prediction with the statement, “SOL/Solana: it will drop to $80, then reach new all-time highs.” The chart shared by Kaleo suggests that Solana could decline to the $80 level and then surpass $263.
These predictions are quite remarkable considering the current market conditions for Solana. At the time of writing, Solana was trading at around $125 and had experienced a loss of over 5% in the last 24 hours.
Since its launch in 2020, Solana has established a significant presence in the crypto world. Its ability to process transactions quickly, low costs, and robust infrastructure for decentralized finance (DeFi) applications are among the main features that have increased the popularity of this altcoin. However, the inherent volatility of cryptocurrency markets and significant corrections continue to be concerns for investors.
A decline to the $80 levels, as forecasted by Kaleo, could be seen as a significant opportunity for large investors. The potential for a new all-time high after this level emerges as the most enticing factor for investors. According to Kaleo, Solana’s potential decline should be viewed as a retracement process, which could create attractive opportunities, especially for long-term investors. Additionally, Solana’s blockchain technology, capacity to host NFT projects, and strong DeFi infrastructure are expected to keep it in a solid position in the future.
A Warning for Bitcoin
In addition to Solana, Kaleo’s analyses also include important predictions regarding Bitcoin (BTC). The analyst states that Bitcoin could drop to $42,500, representing a loss of over 21% from its current value. Kaleo suggests that following this decline, Bitcoin could exceed $88,000 by early 2025. According to the analyst, a significant rise in Bitcoin is expected after the U.S. presidential elections. The reduction of uncertainties in financial markets following the elections may lead to increased activity in Bitcoin and other cryptocurrencies.
Kaleo’s prediction provides significant insights, especially for investors reconsidering their long-term strategies. Additionally, the analyst noted that the inverse head and shoulders (IHS) pattern emphasized is being invalidated. It is also thought that declines in major indices in U.S. stock markets could affect Bitcoin. At the time of writing, Bitcoin was trading at $53,906 and had experienced a nearly 4% decline in the last 24 hours. Kaleo also emphasized that testing support levels in higher time frames (HTF) and a potential short-term bounce from these levels are possible.
