{"id":17952,"date":"2024-10-21T17:26:04","date_gmt":"2024-10-21T14:26:04","guid":{"rendered":"https:\/\/forklog.com\/en\/peter-brandt-foresees-potential-27-fold-surge-for-solana\/"},"modified":"2024-10-21T17:26:04","modified_gmt":"2024-10-21T14:26:04","slug":"peter-brandt-foresees-potential-27-fold-surge-for-solana","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/peter-brandt-foresees-potential-27-fold-surge-for-solana\/","title":{"rendered":"Peter Brandt Foresees Potential 27-Fold Surge for Solana"},"content":{"rendered":"<p>Solana could surge by over 2600%, reaching approximately $4500, if a &#8220;cup and handle&#8221; pattern materialises, according to technical analyst and Factor LLC head Peter Brandt.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">#5<a href=\"https:\/\/twitter.com\/search?q=%24SOL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SOL<\/a> displays possible Cup and Handle with rectangle as Handle<br \/>I am flat in this crypto <a href=\"https:\/\/t.co\/K0eRxs2aOd\">pic.twitter.com\/K0eRxs2aOd<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1848195998549409855?ref_src=twsrc%5Etfw\">October 21, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Since hitting the cycle low near $8 in November 2022, the asset has appreciated 20.5 times.<\/p>\n<p>The &#8220;cup and handle&#8221; pattern develops when the price undergoes a U-shaped recovery, resembling the first component of the figure, followed by the formation of the second through a period of consolidation. The model indicates a period of sideways movement in a narrow range, often preceding a major bullish breakout.<\/p>\n<p>The &#8220;handle&#8221; signals indecision as traders assess the potential for the uptrend to continue. Since March 2024, SOL has been consolidating within the $100-200 range.<\/p>\n<p>According to technical analysis rules, the pattern is confirmed if the resistance at the neckline of $205 is broken.<\/p>\n<p>In this scenario, a rise equal to the maximum distance between the cup&#8217;s trough and the neckline can be expected, suggesting growth to the ~$4500 area in 2025-2026.<\/p>\n<p>Another technical analysis expert, Thomas Bulkowski, <a href=\"https:\/\/thepatternsite.com\/cup.html#google_vignette\">calculated<\/a> that the expected target was reached in only 61% of the 913 episodes he identified.<\/p>\n<p>Trader Aditya Siddhartha Roy noted the conditions for altcoin growth, which always emerged after a halving. This is explained by the market&#8217;s shift from Bitcoin, which possesses relatively moderate price increase potential post-event.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Reviewing past halving cycles and their impact on dominance can offer clues<br \/>~Patterns from previous years may repeat, providing a predictive framework for anticipating ALTSEASON<\/p>\n<p>\u2014 Aditya Siddhartha Roy\u2741 (@Adityaroypspk) <a href=\"https:\/\/twitter.com\/Adityaroypspk\/status\/1847987138324836416?ref_src=twsrc%5Etfw\">October 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Previously, Standard Chartered predicted a fivefold increase in Solana if Republican candidate Donald Trump wins the US presidential election.<\/p>\n<p>According to Bloomberg analyst Eric Balchunas, the likelihood of SOL-ETF registration in the US in 2024 is <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-analyst-dismisses-chances-of-solana-etf-approval-in-2024\">zero<\/a>, as is the case for 2025. Only a change in leadership at the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> could alter the situation.<\/p>\n<p>Earlier, the media reported a list of candidates for the head of the agency in the event of Trump&#8217;s victory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana could surge by over 2600%, reaching approximately $4500, if a &#8220;cup and handle&#8221; pattern materialises, according to technical analyst and Factor LLC head Peter Brandt. #5$SOL displays possible Cup and Handle with rectangle as HandleI am flat in this crypto pic.twitter.com\/K0eRxs2aOd \u2014 Peter Brandt (@PeterLBrandt) October 21, 2024 Since hitting the cycle low near [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1138,1159],"class_list":["post-17952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-opinions","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17952"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17951"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}