Crypto Analyst Jamie Coutts Eyes Solana Price Target Amid ‘Coiling Price Action’ for SOL

WikiBit 2024-10-22 04:00

Real Vision analyst Jamie Coutts says that Solana (SOL) is likely preparing for its next leg up to higher prices. In a post on the social media platform

Crypto

Real Vision analyst Jamie Coutts says that Solana (SOL) is likely preparing for its next leg up to higher prices.

In a post on the social media platform X, Coutts says SOL has been “coiling” within a large triangle pattern over the last six months, and that a break through resistance will trigger a volatile move to the upside.

While the price of SOL has been consolidating – both against USD and Bitcoin (BTC) – Coutts says that most on-chain metrics have also been improving.

Source: Jamie Coutts/X

At time of writing, SOL is trading at $165.

Real Vision CEO and macro guru Raoul Pal recently said that a convincing break of $160 for Solana and $70,000 for Bitcoin would likely lay the grounds for a proper altseason.

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