Solana, a major rival to Ethereum in the smart contracts space, looks bullish on multiple levels right now, according to Guy Turner. On both the weekly and monthly charts, Turner expects a breakout against Ethereum that could yield an increase of 35 to 45 percent.
That could yield a Solana price of $300 or more.
Solana isn’t just breaking out against Ethereum
Guy Turner doesn’t just see Solana breaking out against Ethereum. According to the analyst, things are also looking good at the moment compared to Bitcoin.
“Solana appears to be breaking out against Bitcoin on the weekly chart and monthly chart, which could deliver a massive upside. What this means is that the Bitcoin price will remain roughly at this level until the halving and Solana can rise to the $300 level.
Given that the halving is approaching, the Bitcoin price may also start to rise again,” said Guy Turner.
In addition to breaking out against Ethereum and Bitcoin, Guy Turner also sees other reasons that could allow Solana to soar to new heights.
Other arguments for Solana increases
Guy says there are four major milestones planned for Solana, which will play a key role in the currency’s future.
“Whether Solana can reach the $300 level depends on the milestones. In January, the Solana Foundation published a roadmap with four milestones.
The first highlight is the launch of token extensions that took place in January. The second milestone is the launch of new validator software in the form of Firedance. This software adds a lot of speed to Solana, although it is not yet clear how much exactly.
The third milestone on Solana’s roadmap is undefined institutional support. This states that companies now have all the tools at their disposal to build on Solana. The fact that Solana aims to become a decentralized version of NASDAQ indicates that Real World Assets may be on the way.
Solana’s fourth and final milestone is the foundation’s call for developers to use all tools to build products and services on Solana,” Turner said.
These milestones are not all very concrete yet, but the goal of becoming a decentralized version of the NASDAQ is of course very interesting. Do you think Solana has what it takes to achieve that goal?
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