Forecasts on Solana's Price Surge and New Meme Coin 'Milei Moneda'

The cryptocurrency sector is abuzz with predictions as prominent crypto trader That Martini Guy anticipates Solana (SOL) reaching $200 in the upcoming week. This positive outlook contrasts Solana's recent sideways movement around the $161 level. Furthermore, technical analysis from More Crypto Online implies a potential upswing, subject to specific support levels.

That Martini Guy's tweet stating, 'Solana is set for $200 this week,' has stirred conversations within the cryptocurrency realm. His bold prediction aligns with certain technical perspectives suggesting Solana's potential breakthrough from its current consolidation phase. Nonetheless, the path to $200 poses challenges.

Recent trends show Solana trading above $161 post a decline on May 26th. More Crypto Online's examination emphasizes the importance of identifying reliable patterns within this range. Of particular interest is the double bottom pattern, although such formations typically result in brief rebounds rather than significant breakthroughs.

Two primary scenarios are deliberated. The 'Yellow Count' proposes a B-wave rally peaking near $189, potentially followed by a C-wave decline. Essential support levels such as $147, $137, and $119 are crucial, with breaching below $147 heightening the chances of further decline. Conversely, the 'Orange Count' envisions an extended B-wave rally propelling Solana above $200.

Detailed Analysis and Future Projections

Describing the current price action as ambiguous mirrors its lateral movement since late May. The analysis scrutinizes the likely conclusion of the B-wave pullback within the third wave, emphasizing a support range between $167.50 and $147.80. Recent movements indicate corrective patterns, signaling a significant decline is improbable without breaching the $161 level.

Looking forward, a breach below $161 might signify a dip to test $155.70 or $147.80. However, maintaining levels above $147.80 could trigger an upward trajectory in wave C of B. Despite this, the double bottom pattern suggests inherent weaknesses that may lead to only a temporary 'dead cat bounce.'