In a surprising move, top crypto analyst Ali Martinez has predicted that Solana (SOL) could be in line for a sizable price surge in the coming weeks.
However, with the presale project Bitcoin Minetrix (BTCMTX) also seeing strong growth recently, some investors are wondering if it could produce more gains than SOL as it nears its market debut.
Crypto Analyst Forecasts 15% Solana Price Surge in February
Ali Martinez, who goes by @ali_charts on X (formerly Twitter), has posted an optimistic short-term price prediction for Solana.
Ali forecasted that SOL could surge to $113 in February, pointing to the 4-hour chart that shows price bouncing off the 0.618 Fibonacci retracement level.
The chart also shows SOL breaking out of a descending parallel channel that had contained price since the last week of December.
After breaking out above the descending channel, Solana retested it from the outside as support before moving higher.
Ali believes that as long as Solana can hold above the $94 level, which aligns with the outside of the channel, it has a strong chance of “advancing” to $113.
Should Ali’s prediction prove accurate, it would represent a 15% rise from today’s price.
Moreover, it would take SOL back to the same level it was on January 2 before the token experienced a dramatic selloff.
Developer Momentum & Key Events Shape Solana’s Long-Term Potential
While technical analysis provides an indication of Solana’s short-term price action, broader ecosystem developments are crucial to the network’s long-term prospects.
Solana has seen an explosion of activity from developers and projects building real-world use cases, attracted by the blockchain’s fast speeds and low costs.
Over 2,500 developers are actively building on Solana each month, with solid developer retention rates showing that many are committed for the long haul.
Key events like September’s Breakpoint conference in Singapore will likely showcase the network’s progress in the coming months.
In terms of decentralized finance (DeFi), exchanges like Jupiter and Orca are leading the way, while liquid staking protocols such as Marinade Finance are bringing new utility to Solana.
NFT collections have also thrived, with standouts like Mad Lads driving investor interest.
As network activity and transactions continue growing, Solana seems well-positioned to increase its appeal to developers and investors in 2024.
Explosive Presale Growth Positions Bitcoin Minetrix as Top Crypto to Watch in Early 2024
While Solana continues gaining steam across key metrics, a new project called Bitcoin Minetrix (BTCMTX) is also showing explosive growth.
Bitcoin Minetrix aims to make cloud mining more accessible through a first-of-its-kind dual-earning model.
The platform allows users to passively earn cloud mining rewards by staking the native BTCMTX token – removing the need for high-end hardware or technical expertise.
BTCMTX holders can also receive staking yields on their tokens, currently set at 68% per year.
Bitcoin Minetrix has already raised over $9.7 million in presale sales, showcasing strong demand from the retail community.
Only four billion tokens will ever be minted, with up to 77.5% of these made available to early investors.
The project’s developers have focused heavily on community engagement, attracting a significant following on Telegram and X (formerly Twitter).
Bitcoin Minetrix has even been mentioned by top YouTubers like Austin Hilton, who gave the project a glowing review in a video to his 244,000 subscribers.
With triple-digit percentage returns posted by some new crypto projects once listed recently, Bitcoin Minetrix has the chance to deliver even faster growth than Solana if it sees a successful debut.
Considering its novel cloud mining approach and surging presale popularity, BTCMTX may emerge as one of the hottest low-cap crypto assets to watch in early 2024 if its momentum continues.
