In a recent Cheeky Crypto video, host JB discusses Solana, a cryptocurrency with the potential to 100x. JB believes that Solana has the potential to reach $981.81 to $3,000 by 2030, a 10,600% price rally.
Technical Analysis
On the 1-hour chart, Solana is showing a wxy pattern with a target range between $345 and $36.85. It recently hit $338 but tested the 50 EMA and 50 SMA. The current price is ranging sideways, which is typical for weekends. The Stochastic is overbought, indicating a possible correction. However, JB expects the price to continue moving up as it’s above key EMAs.
On the 4-hour chart, the Stochastic is pushing to the upside and volatility is dropping, suggesting a potential move higher. JB believes the price is likely to reach $34.52.
On the daily chart, Solana previously tested a key trendline and the Stochastic RSI is volatile, with high volatility but no significant price drop. This suggests that Solana is still in a bullish trend.
Thoughts and Opinions
JB believes that Solana has the potential to 100x and mentions the possibility of a 10,000% gain from the bottom at $8. He encourages viewers to have exposure to Solana but emphasizes that this is not financial advice.
Conclusion
JB wraps up the video by wishing viewers a good weekend and reminding them to trade safely with tight stop losses.
