Analyst Calls Solana ‘One Of The Best Coins Out There,’ Here’s Why

This post was originally published on Bitcoinist

A crypto analyst has declared Solana to be one of the best coins, highlighting the cryptocurrency’s previous price movements, which are marked by upsides and its potential for a major bullish rally

Solana Gets Best Coin Status

Solana, the fifth largest cryptocurrency by market capitalization has attained a new title as “one of the best coins.” A crypto analyst, identified as ‘Honey’ on X (formerly Twitter), made this positive statement and expressed bullish optimism for SOL’s future outlook in an X (formerly Twitter) on June 9.

Sharing a price chart depicting Solana’s price actions since the beginning of 2024, the analyst highlighted a series of sharp rallies the cryptocurrency has experienced over the past few months. The analyst has also based her bullish predictions for Solana on the possibility that the cryptocurrency maintains a level above the 1D 200-day Exponential Moving Average (1D  EMA200).

The EMA200 is a widely recognized technical indicator that traders use to identify long-term trends in a cryptocurrency. Staying above this unique trend line often indicates possibilities of bullishness, suggesting that SOL could be getting ready for a major upside

Honey has also disclosed that once Bitcoin (BTC) reaches its bottom and starts to recover, Solana

Read the rest of this post, which was originally published on Bitcoinist.

Previous Post

3AC wallet buys NFT with 3-year-old offer, zkSync denies insider minting claims: Nifty Newsletter

Next Post

BIS appoints Véronique Sani secretary general