In recent weeks, Solana (SOL), the 5th largest cryptocurrency on the market, experienced a period of decline, hitting a two-month low of $121 on Friday. The coin’s value struggled to break above the $188 level in May, resulting in a continuous downtrend further exacerbated over the past seven days with the general market’s correction. However, crypto analyst Jelle has sparked optimism by suggesting the potential for substantial gains for SOL in the coming months, reminiscent of the fabled “Solana Summer” of 2021. Analyst Draws Parallels To 2021’s “Solana Summer” Jelle took to social media to share an analysis of SOL’s price action, drawing parallels between its current behavior and the events of the summer of 2021. The analyst noted months of consolidation, characterized by lower highs while maintaining support above the $120 level. Jelle emphasized that SOL is rebounding from the weekly Relative Strength Index (RSI) midlevel, mirroring the pattern observed in July 2021. Encouraged by these similarities, Jelle boldly believed in Solana’s future, setting a target of $600 for this market cycle. Related Reading: Crypto Analyst: Solana Goes ‘Parabolic Soon’ ..
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