- Johny, a popular trader and analyst, predicted yesterday that SOL’s price may break out towards the upside.
- At press time, the analyst’s prediction seems to have come true, as SOL was up more than 8%.
- Should SOL continue to rise, then it may rise to the next resistance level at $63.79.
The trader and analyst Johnny predicted in an X post yesterday that the price of Solana (SOL) is “looking ready to rip higher.” According to the post, the first level that the Ethereum-killer will need to overcome is the $59.91 resistance level.
Should SOL break above $59.91, then the next target that the analyst has set for SOL’s price is $63.79. Johnny did, however, set a downside target of $51.23 for the altcoin’s price if it breaks below a support zone between $54 and $56.
The analyst’s prediction seems to have come true, as SOL was up more than 8% over the past 24 hours. According to data from the cryptocurrency market tracking website CoinMarketCap, SOL was changing hands at $60.51 at press time. This was after the cryptocurrency’s price rose 8.1% throughout the past 24-hour cycle.
The strong performance by SOL over the past 24 hours was not enough, however, to boost its weekly performance out of the red zone. CoinMarketCap data indicated that SOL’s price was still down 1.75% over the past 7 days. The cryptocurrency was able to reach a peak at $60.76 over the past 24 hours, while its low for the same period stood at $55.84.
SOL’s recent surge led to it trending as well. The altcoin occupied the number three spot on CoinMarketCap’s trending list at press time. This ranked it behind Celestia (TIA) and above Bonk (BONK).
SOL was also one of the top 24-hour gainers in the list of the 100 biggest cryptocurrency projects in terms of market cap. Flow (FLOW) was able to outshine SOL in terms of 24-hour gains. Meanwhile, SOL was ranked 1 position higher than Oasis Network (ROSE), as its price was only able to rise 7.83% during the past day of trading.
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