Investment expert with an intriguing forecast: "A 30% jump - the $78 barrier will be broken"

Popular crypto analyst Ali Martinez sets a new and promising price target for the digital currency Solana (SOL) - $100. This is a scenario that implies an upside of about 30% from its current price, which stands at around $76.88, but it is conditional on breaking a critical resistance level in the near term.

In an analysis published on the X network, Martinez showed that Solana is trading within a parallel channel on the daily chart. The resistance level in the center of the channel is at $78, and a breakout above it could lead to a wave of gains towards the upper boundary in the $100 area. It should be noted that Solana last traded at this level in early February, and has not been able to return to it since.

Technical signals and a hot derivatives market

The optimistic forecast is not based solely on the channel analysis, but also on a series of bullish technical indicators. Martinez points to a "buy" signal on the TD Sequential index, alongside a "Golden Cross" recorded on the MACD index - a pattern that usually indicates a strengthening of the upward momentum.

At the same time, the derivatives market is also showing signs of sharp awakening. Coinglass data shows that the volume of open positions (Open Interest) in SOL futures jumped by 10% in just one week, with most traders holding long positions. However, other indicators such as the RSI and the Bull Bear Power index remain in neutral territory at this stage.

From "Ethereum killer" to recovery from the falls

Despite the cautious optimism presented by the technical data, Solana is still recording a drop of about 38% since the beginning of the year. The currency, which in its early days earned the nickname "Ethereum killer" thanks to its transaction speed and low fees, has come a long way - and today even co-founder Anatoly Yakovenko prefers to talk about coexistence alongside Ethereum rather than wild competition.