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Expert identifies Solana’s path to $4,000

A trading expert has identified a technical setup that could see Solana ( SOL ) target the $4,000 mark as the decentralized finance ( DeFi ) asset continues to establish its price above the $100 support zone. According to Ali Martinez, Solana has the potential to surge by a staggering 2,900%, pointing to the formation of a cup and handle pattern as a strong indicator of a bullish trend, he said in an X post on March 14. Solana price analysis chart. Source: Ali Martinez Martinez noted that since November 2021, Solana has experienced a U-shaped decline, followed by a level-off phase, which is now evolving into the pattern’s “handle.” This technical formation is often seen as a precursor to a major upward movement in price. The cup and handle pattern is bullish, where the price forms a rounded bottom (the cup) followed by a consolidation phase (the handle). A breakout above the resistance level signals a potential rally. Martinez suggested that Solana could break the $200 resistance, paving the way for a surge toward $4,000. He emphasized that if Solana can decisively break above the $200 mark, the odds of a continued bullish rally increase significantly. In this case, a $4,000 valuation would likely elevate Solana to the highest-ranked digital asset with a market cap exceeding $2 trillion, provided Bitcoin ( BTC ) stagnates during this period. Meanwhile, another analysis by Ted Pillows in an X post on March 14 also stressed the significance of Solana holding the $110 level, as dropping below this mark could usher in a sustained correction for SOL. Solana price analysis chart. Source: Ted Pillows The expert stated that Solana stands at a key juncture, considering its retest of a multi-year support zone and a long-term uptrend line. Historically, these levels have provided strong buying opportunities. He highlighted the importance of the $110 to $120 zone, noting that failure to hold support could open the door for a deeper correction of 30% to 40%. However, a successful bounce could signal a reversal, with a potential upside if bullish momentum returns. Solana price fundamentals Although technical indicators are crucial to Solana’s next price trajectory, other fundamentals are also coming into play, with the spot exchange-traded fund ( ETF ) ranking as a key factor. Several entities have applied for the product with the Securities and Exchange Commission ( SEC ). On March 11, the SEC postponed its decision on multiple altcoin ETFs, including those for XRP , Solana, Litecoin ( LTC ), and Dogecoin ( DOGE ). The agency extended its review period, pushing decisions on Grayscale’s XRP ETF and Cboe BZX’s Solana ETF to May. SEC ETF verdict. Source : SEC Notably, Bloomberg ETF analyst James Seyffart called the delay “expected,” noting that final deadlines extend until October. Fellow analyst Eric Balchunas added that other ETF proposals, including one for Ethereum ( ETH ) staking, were also delayed. Eth staking and in-kind also delayed. Everything delayed. It`s like the NYC-bound Amtrak on monday morning: "Mechanical issues in DC" — Eric Balchunas (@EricBalchunas) March 11, 2025 The SEC has previously extended crypto ETF decisions amid leadership changes following Gary Gensler’s exit from the regulator. Although part of Solana’s momentum last year was driven by meme coin activity on its network, an ETF approval could help broaden SOL’s appeal and attract long-term investors. On the other hand, a proposal to slash Solana’s inflation rate by 80% (SIMD-228) has failed to pass after falling short of the required 66.67% approval. Despite securing 61.39% “Yes” votes, opposition from smaller validators tipped the balance, keeping SOL issuance unchanged. The decision could lead to short-term selling pressure, as lower inflation would have reduced token supply, potentially driving up SOL’s price. However, higher rewards may sustain validator participation and network security, a long-term positive. SOL price analysis As of press time, Solana was trading at $133.10, well below its 50-day ($183.93) and 200-day ($186.79) moving averages ( MA ), signaling a strong downtrend. The asset’s market sentiment remains bearish, with the Fear & Greed Index at 27 (Fear). However, the 14-day relative strength index ( RSI ) stands at 35.38. SOL must reclaim $150 and break above key resistance levels to reverse the bearish trend. Until then, downside risks remain in play. Featured image via Shutterstock The post Expert identifies Solana’s path to $4,000 appeared first on Finbold . AMB Crypto

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Trump Family Partners Respond to Allegations of Binance Partnership with Cryptocurrency Project

WLFI, a cryptocurrency project with ties to the Trump family, has responded to recent reports from The Wall Street Journal and Bloomberg, calling them “unfounded” and “politically motivated.” The project released a statement criticizing what it described as “agenda-driven journalism” aimed at harming the cryptocurrency industry. The discussion follows a Bloomberg report claiming that WLFI, referred to as World Liberty Financial, was in talks with Binance over a potential collaboration. The talks reportedly include the possibility of developing a stablecoin backed by the US dollar. However, the extent of these negotiations and whether any formal agreements have been reached remain unclear. WLFI has positioned itself as a decentralized finance (DeFi) startup with a mission to democratize the financial system. “To get the facts straight: WLF is a DeFi project with a monumental mission to build and democratize a new financial system for the benefit of millions. It’s that simple,” the statement said. Related News: Anticipated Altcoin Token Unlocking Hits Huge Token Unlock, Tokens Go Into Circulation - Here`s the Initial Price Reaction The project also emphasized collaborations within the blockchain industry: “We are proud to partner with many of the leading protocols and organizations that are advancing the blockchain industry. For anyone interested in the facts, we encourage you to ignore the clickbait and look beyond the sensational headlines. Instead, expect to hear directly from us for important updates on what we are building.” Regarding the issue, it was reported that Binance’s former CEO Changpeng Zhao (CZ) met with Steve Witkoff, one of the founders of World Liberty and known for his closeness to Trump, three months after leaving the rehabilitation center. The meeting allegedly took place at the Bitcoin MENA 2024 conference in Abu Dhabi. CZ denied this information in his statement. *This is not investment advice. Continue Reading: Trump Family Partners Respond to Allegations of Binance Partnership with Cryptocurrency Project AMB Crypto