Solana Price Prediction as Crypto Billionaire Arthur Hayes Says It’s Time to ‘Get Back on the Solana Train’
Solana (SOL) value predictions are turning more and more bullish, with the cryptocurrency nonetheless considerably under its December peaks, however with chart evaluation hinting at upside value dangers and extensively adopted crypto character Arthur Hayes commenting that it might be time to “get again on the Solana prepare”.
Hayes made the submit earlier this week when Solana was buying and selling within the $94s.
I believe it is perhaps time to get again on the prepare fam. Perhaps after a number of US banks chew the mud this weekend. pic.twitter.com/SxCwK3BVYB
— Arthur Hayes (@CryptoHayes) February 1, 2024
The Solana value has since risen to finish Friday round $100.
Hayes caveated his remark by saying “possibly after a number of US banks chew the mud this weekend”.
He was possible referring to a latest resurgence of concerns about regional banks in the US.
NYBC’s share value plummeted this week after an unpleasant earnings launch, weighing on the KRW Regional Banking Index.
The index began the week above 109 however closed the week underneath 100, its lowest since mid-December.
Troubles within the US banking sector prompted an enormous rally in crypto markets in March 2023.
Bitcoin and cryptocurrencies extra broadly had been considered as a safe-haven different to the fractional reserve banking-based conventional monetary system.
Whereas Bitcoin would most likely lead if the financial institution disaster returns, Solana can also be a powerful candidate to carry out nicely.
Solana Value Predictions – The place Subsequent for SOL?
Financial institution troubles might turn out to be an more and more necessary theme within the subsequent few weeks.
In early March, the Fed is axing a liquidity support program it first launched in March 2023 to assist troubled regional lenders.
The tip of the so-called Financial institution Time period Funding Program (BTFP) might beset new points for the sector.
And that would drive cryptocurrencies like Solana’s value increased.
Within the meantime, the Solana value is more likely to profit from optimistic technicals.
The Solana value just lately broke above a key short-term downtrend.
It additionally just lately noticed a powerful bounce from its 21 and 50DMAs.
This bounce comes after it additionally bounced from key long-term assist within the $77-80 space earlier this month.
Technical evaluation suggests a powerful chance of a near-term rally in direction of December highs round $125.
In wake of latest optimistic Solana ecosystem developments, equivalent to surging on-chain exercise as merchants flock to learn from profitable airdrop campaigns equivalent to this week’s Jupiter (JUP) token launch, Solana value predictions look set to stay optimistic.
