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Solana rally above $70, analysts bullish on SOL and TGC

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Solana rally above $70, analysts bullish on SOL and TGC

Solana has continued to push ahead, climbing above $70 and laying the way for a new local high. It is currently trading at $72, up 9% today, 15% this week and 32% this month.

Meanwhile, the newly launched TG Casino is also rallying. Its presale is approaching the $4 million milestone with a $5 million hard cap.

Solana breaks out

The broader crypto market has shifted bullish this week, enabling Solana to continue its recent upward trajectory. As such, traders are bullish on Solana, with several predicting it could reach over $100 in the near term.

Following Solana’s recent pump, trader Deftsuo stated that Solana “looks about ready to break out above $80. Parabolic structure is present as well.”

Solana rally above $70, analysts bullish on SOL and TGC - 1

The analyst continued, “very possible we see $100+ SOL by year’s end IMO; as there isn’t much resistance until $100 if $80 is broken through.”

Deftsuo utilized EMA indicators alongside an RSI, Stochastic RSI, and BBWP indicator to predict Solana’s next move.

Another bullish trader is ALTSREET BETS. The analyst published a long-term Solana price prediction in October when SOL was priced at just $28, predicting it would reach between $100 and $150.

Solana rally above $70, analysts bullish on SOL and TGC - 2

Following the recent pump, the analyst updated his followers, saying “$100 is next.”

Meanwhile, The Crypto Dog maintains a bullish outlook on Solana after prices broke above a trendline resistance level.

Moving to a fundamental analysis, Solana Key Opinion Leader (KOL) Solana Sensei believes an upcoming token release could propel SOL to $100.

The token in question is JUP, the native currency of Solana’s muti-functional decentralized exchange, Jupiter. The platform offers features like perpetual trading, dollar-cost-averaging investing, and more. 

JUP will be distributed via an airdrop, and Solana Sensei speculated, “ JUP will be massive. I think this one could even push SOL price up to $90-100 levels. We are not ready for what’s coming.”

Evidently, the community is bullish. However, it is important to consider that Solana has pumped significantly, so it may be due a deeper retracement.

A trader who backs this thesis is TradingView analyst Swallow Premium, predicting it will reject the resistance zone between $70-$80 and pull back to $47, then $38.

Solana rally above $70, analysts bullish on SOL and TGC - 3

While the broader market consensus is bullish, this prediction highlights that Solana is not without risk. 

TG Casino presale nears $4 million

TG Casino is an anonymous crypto gaming platform launched on Telegram.

This improves user experience, security, and sign-up process.

The project’s native token, TGC, offers benefits like rewards, access to games and rooms, a 158% staking APY, 25% cashback on losses, and much more. 

This token utility means that TGC’s demand will correlate with the casino’s.

Solana rally above $70, analysts bullish on SOL and TGC - 4

Moreover, the project has a buyback mechanism, repurchasing TGC from the market with a portion of the platform’s revenue. It will burn 40% and allocate 60% to staking rewards. This makes TGC deflationary.

So far, the presale has raised almost $4 million. Prominent analysts back the project with analyst Poe predicting it could rival market leader Rollbit.

At the time of writing this, Rollbit holds a $630 million market cap, while TG Casino’s fully diluted market cap at launch will be just $12.5 million.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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