“There is a potential”: Solana price can grow almost 27-fold

SOL’s price can surge by over 2,600%, reaching approximately $4,500. Factor LLC CEO Peter Brandt believes this scenario is theoretically possible if Solana displays the Cup-and-Handle pattern.

In the fall of 2022, Solana dropped to a historical minimum of $8. Since that time, the token’s value has increased dramatically. According to Coinmarketcap, SOL now sits at around $160.

One can speak about the appearance of the Cup-and-Handle pattern if the price of an asset rallies, forming a U-shape that resembles the first element — the cup. After that, through a period of consolidation, the second element — the handle — appears on the graph. The pattern usually indicates a flat cycle in a narrow corridor that often precedes a bullish breakthrough.

Analyst Dan John claims that Solana’s growth is possible if the main cryptocurrency can reach a record-breaking price of $100,000. Meanwhile, trader Aditya Siddhartha Roy points out the factors propelling altcoin growth, which often follows halving events. One reason for this is market players shifting their focus away from BTC, which has a small price growth potential after halving.