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Solana could be on the right track for a massive rally of 323% this Altcoin season, according to a new technical analysis of Crypto Stratelist Quantum Ascend, which projects a potential peak around $ 830 based on market capitalization extensions and Elliott waves structures. In a detailed ventilation of July 22, the analyst argues that most retail merchants continue to neglect the impact of the dynamics of inflation and the offer of tokens – factors that considerably affect pricing projections.
Solana at $ 1,000 is not realistic, the cycle
“Looking at the market capitalization table, it is up by almost 216,000%, while the price table has only increased by 18,000%. So what it tells us is, there is a kind of inflationary pressure on the asset,” said Quantum Ascend. “You must use the market capitalization graph to measure the price.”
Using the Elliott wave theory, the analyst identified Solana as currently operating in a third macro wave – clearly the strongest phase of a five wave pulse sequence. According to her counting, Solana finished her first and second macro waves in previous market cycles and now accelerates the first stages of the Three Wave, a decision that could lead to a parabolic rally.
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“At the moment, what we are working on is this three-wave macro,” he said. “The bear market will be Macro four, then we will have another wave at some point in the future.”
To support this thesis, Quantum Ascend has drawn Fibonacci extensions from the historic price structures of Solana. He underlined the confluence between the 2,618 extension of the most recent accumulation beach and the 3,618 extension of a larger range, both crossing a market capitalization of $ 300 billion. However, he considers this zone as a control point in the middle of the cycle rather than a terminal target.
Its conservative scenario puts Solana at a price of $ 620, representing a decision of 217% of the current levels. But its main projection suggests a 323%rally, translating into a $ 830 high based on market capitalization behavior and structural alignment. He warned that the simple targeting of round figures like $ 1,000 can induce merchants induced in error, in particular when the market capitalization analysis adjusted by inflation tells a different story.
“If I draw these same extensions here for Solana (on the price table), because of inflation, you would look for $ 1,000, which is a good number and something that trade would like to hear,” he said. “But the market capitalization graph shows that it exceeds the same extensions as in $ 830.”
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The gap stems from inflation in Solana token. While new tokens come into circulation, they dilute the impact of price movements. This is why, insists Quantum Ascend, the projections with market capitalization provide a more precise view of the upward potential. “There are not enough people who pay attention to market capitalization. You have to do so, ”he said.
In its final ventilation, the analyst presented the two price zones. “We have $ 620 as a curator, $ 830 as the main main thing here for Solana,” he concluded. While some viewers can find the modest upper limit compared to speculative retail targets, he highlighted the importance of realism compared to the media threshing. “We are trying to make sure that we do not buy crazy stories or anything and we do not leave anything on the table and we do not trip our bags.”
At the time of the press, Sol exchanged $ 195.
Star image created with dall.e, tradingView.com graphic
