Analysts expect SOL to hit ATH in the coming days

Solana gained a lot of new users this summer thanks to its fast transactions and low fees. Obviously, the experts also expressed their optimism about the SOL token. The renowned analyst and trader Smart Contracter is one of them.

Brothers suppose i think SOL will rise to a new record high after an accumulated period.

“SOL is going to hit ATH soon, this regrouping won’t last forever.”

The analyst repeated his previous bullish story to back up his point. Smart contracter predicts that after the fourth wave ends, SOL could rebound more than 100% against USD and BTC in an uptrend with five waves.

The source: Smart contractor

He uses Elliott wave theory (a method of technical analysis that predicts future price movements by representing the sentiment of the crowd as waves). In theory, wave four is the final phase of correction before the asset starts the final wave of its cycle.

In addition, other traders at SOL are also optimistic. This is confirmed by a recent survey by Real Vision Bot. According to the results, retailers prefer active portfolios with SOL and DOT.

The source: Real Vision Bot

Regardless of how big the price hikes are, SOL is generally considered more centralized due to its reliance on the Solana Foundation, especially when compared to other Layer 1 chains. However, keep this in mind.

According to Solana Beach, there are currently 1,089 validators on Solana, giving the network a Nakamoto coefficient of 19 research, the Nakamoto coefficient of other networks is much lower, averaging 5 for Bitcoin and 3 for Ethereum.

In the Nakamoto coefficient, a higher score means a higher degree of decentralization.

In the further course, the analyst also commented on Ethereum. He tweeted that the leading smart contract platform is still going strong.

The source: Smart contractor

It would be interesting if the above analysis actually coincided with price movements in real time. At the time of writing, SOL is trading at $ 159.8, down nearly 2% in 24 hours and up 5% over the past week. Similarly, ETH is down 1.14% in 24 hours and is up nearly 10% from the week and is currently at $ 3,850.

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Minh Anh

According to AMBCrypto

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