Solana Analysis – Price Expected To Rise To $80?

<p>&nbsp;"No matter what, don't forget to do your own analysis."</p><p><br /></p><p>While the entire cryptocurrency market is witnessing a recovery, Solana (SOL) is also refusing to be left behind as its price tries its best to climb higher through several developments.</p><p><br /></p><p>According to Anatoly Yakovenko, co-founder of Solana Labs said that his team that is researching the position of the digital asset in the stablecoin market really believes in the financial transition on a platform like Solana.</p><p><br /></p><p>Although the Solana Saga phone currently sells only 2,200 units, Yakovenko who wants to establish a strong user base has emphasized the need for higher sales of 25,000 to 50,000 units.</p><p><br /></p><p>The phone packs all the usual functions users expect from a smartphone and adds a Web3 experience including a decentralized application store (DApp) as well as seamless integration across crypto wallets or DApps.</p><p><br /></p><p>Yakovenko also envisioned potential initiatives such as launching new capital, improving applications, introducing store discounts and others.</p><p><br /></p><p>Now, let's examine the current price movement chart of SOL/USDT.</p><p><br /></p><p><br /></p><p>SOL which is currently trading at $63.59 has recorded a 5.29% gain in the last 24 hours and gained 8.66% over the last week.</p><p><br /></p><p>The price once reached $67 on November 16, 2023 which was the highest level for trading this year.</p><p><br /></p><p>From a technical point of view, SOL is currently in a consolidate phase where the price is struggling to break through $66 and has been hovering below that level for the past three weeks.</p><p><br /></p><p>However, SOL is expected to continue its rise up to $80 if the price can break its resistance zone at $66, but if it fails then the digital asset can retest the level of $51 or $47.</p><p><br /></p><p>Even so, if SOL breaks below that level and continues to move downward, then the price could see a more drastic decline to $33.60 followed by $18.</p>