- Cheeky Crypto’s Nick thinks Solana is about to break $200.
- SOL surged about 53% in the past two weeks.
- There is a classic FOMO Vs FUD “War” among Solana community members.
Cheeky Crypto YouTube channel presenter, Nick, believes Solana (SOL) is poised to break the $200 price barrier on its way to a new all-time high (ATH). In a recent video, Nick noted Solana’s potential for significant growth, citing ongoing rumors and developments within the blockchain’s ecosystem.
According to Nick, Solana’s exceptional speed and low transaction fees are attracting many crypto users. The crypto analyst identified other hidden factors behind the recent Solana rally, viewing them as potential triggers that could propel the scalability-focused blockchain solution to new heights.
Meanwhile, Nick acknowledged that Solana’s recent surge, a 53.5% gain in about two weeks, is significantly bullish and could continue. SOL rallied from a $121.01 low on July 5 to $185.00 on July 21, even climbing above the 0.786 Fibonacci retracement level from the recent dip.
According to Nick, experts anticipate SOL breaking above $200. The renowned analyst attributed the surge to growing optimism among traders and investors, though not everyone is convinced. Nick highlighted a notable amount of skepticism and negativity surrounding Solana.
The Cheeky Crypto analyst describes a classic tug of war between “Fear Of Missing Out (FOMO)” and “Fear Uncertainty and Doubt (FUD)” among the Solana community. While many users are hopping on the Solana bandwagon, others are hesitant, fearing a potential bubble.
Solana traded for $177.81 at the time of writing, having pulled back slightly from the previous day’s high of $185.00. The layer-1 blockchain solution is about a 12% surge away from Nick’s projected target of $200. However, many traders believe the rally will continue, given the dominant bullish sentiment in the crypto market.
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