Solana Price Prediction According To Crypto Observers

Crypto Solana according to crypto analyst. (Photo; Doc. Cybernews)

JAKARTA - An experienced crypto trader and analyst known as Altcoin Sherpa recently predicts the price of Solana (SOL), an Ethereum (ETH) rival. In his statement, Altcoin Sherpa expressed confidence that Solana has the potential to generate profits for long-term investors.

Altcoin Sherpa, which has 196,200 followers on social media platform X, says Solana is a crypto project that has strong fundamentals. He believes that Solana can perform well in the bullish market which is coming. However, he also warned that SOL trips to achieve bullish might experience bearish in advance.

"SOL still has a solid foundation and may be a good choice for the next increase. I have long-term confidence in this asset, and I plan to hold it because I believe its potential future rise. But keep in mind that in the short term, volatility will probably be an obstacle," said Altcoin Sherpa.

The short-term bearish view of Altcoin Sherpa is based on its concern for the FTX crypto exchange. According to him, FTX will most likely start liquidated Solana's significant holdings to fulfill its obligations to its creditors. Court documents show that FTX currently has Solana worth $1.16 billion (equivalent to 17.8 trillion).

Altcoin Sherpa reminded that the possibility of FTX liquidation could trigger a decline in Solana prices. "Our concern must focus on the price range of $17 (Rp261 thousand) to $15.50 (Rp238 thousand). Many investors are worried about the potential for ownership liquidation by FTX."

At the same time, Altcoin Sherpa stressed that this price drop, if it happens, could be an opportunity for Solana. He stated that if FTX liquidation occurs, Altcoin Sherap estimates that the SOL price may fall below $10 (equivalent to Rp153 thousand), maybe even up to $5 (Rp76 thousand), before experiencing a reversal.

If the decline occurs, Altcoin Sherpa will reveal its intention to increase SOL ownership at low prices. Even so, Solana, like all other crypto assets, could experience significant volatility, and unexpected market factors could affect price movements.