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Il Capo of Crypto, one of the most well-known analysts in the cryptocurrency world, shared his latest evaluations in his statement.
Evaluating Solana, the analyst stated that SOL recorded a strong correction as expected after exceeding the all-time high price level of 2021. il Capo noted that this area has now turned into a solid support and a bounce has occurred.
According to il Capo, if the bullish trend on the low time frame chart continues, a jump to the $300 level may occur.
In addition, the analyst said that the SOL/BTC pair also appears to be in good shape.
Solana is trading at $212 at the time of writing and has gained nearly 10 percent since last week.
Speaking about the general cryptocurrency market, the analyst noted that after the strong market recovery from the lows, there could now be some pullbacks. However, he said that the overall trend remains bullish and he remains a “buy the dip” mindset.
*This is not investment advice.