Solana has been in the spotlight since the bull run began in 2023. The meme coin frenzy coupled with it being an Ethereum competitor, SOL is perfectly positioned this bull run. Although Solana price is close to $200, this analyst believes it could hit $5,000 this cycle. Is this target exaggeration or is it possible? Let’s explore.
Analyst Forecasts Solana Price to Hit $5,000 This Cycle
In an X post, CryptoRus, who has over 245k followers, made a bold SOL price prediction, in which he said that the coin will rise to at least $5,000 in the ongoing cycle. If that happens, it means that Solana price will need to rise by 1,965%.
Such a move is possible since the coin has already jumped by 2,447% from its 2023 lows. The analyst pointed to the cup and handle pattern that has happened on the weekly chart. As shown below, the coin has already moved above the upper side of the cup at $208.
It has also completed the formation of the handle section. Now, the coin needs to clear the important r
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