Solana (Left) continues to attract the attention of investors by managed to remain above the support level of $ 100 in recent years. Technical analyst Ali Martinez evaluated Solana’s rise potential and claimed that the price could rise up to $ 4,000. According to Martinez, Solana’s price movements constitute the Formation of the Cup and Handle, which gives a strong rise signal.

Solana Technical Analysis: Is it possible for 4 thousand dollars?

Martinez says Solana has experienced a U -shaped decline since November 2021, and then the price follows a horizontal course. The formation of the handle part of this formation indicates that the price can break the resistance level and go to a harsh rise.

In particular, the $ 200 level is seen as a critical threshold for the realization of this rise. If solana exceeds this resistance, a rally up to 4 thousand dollars may be possible according to Martinez. However, in order to realize this scenario, market conditions should also be supportive.

Critical support levels and risks

Another crypto analyst TED Pillows drew attention to the importance of protecting Solana’s $ 110 level. According to Pillows, if the left falls below this support level, a correction of 30 %to 40 %may be experienced.

On the other hand, if a strong purchase pressure occurs between the $ 110-120, this may allow the price to rise again. It is critical to hold on these levels in order to maintain the long -term rise trend of Solana.

Effect of ETF developments and regulations

Not only technical analysis is determined by Solana’s future. US Securities and Stock Exchange Commission (SEC) postponed ETF applications for Solana, XRP, Litecoin (LTC) and Dogecoin (Doge). The postponement of the decision to May may change the expectations of investor.

Bloomberg analyst James Seyffart said that this delay is an expected development and that the SEC had previously made similar decisions. The arrival of an ETF approval may increase the adoption of Solana and attract long -term investors.

Solana inflation policy and price

The SIMD-228 proposal, which aims to reduce the inflation rate in the Solana network 80 %, was rejected by not getting enough support. 61.39 %of the “yes” vote proposal, 66.67 %of the necessary vote was not accepted because it could not reach the necessary vote.

If the offer had passed, the left supply in the market would decrease, which would have a positive impact on the price. However, in the current case, the absence of inflation may promote validator participation and support network safety.