On Tuesday (July 19), $SOL, the native token of the Solana blockchain, is trading above the $45, having surged over 14% in the past 24-hour period, and at least one crypto analyst is loving its price action.

According to data by TradingView, on crypto exchange FTX, currently (i.e. as of 6:53 p.m. UTC on July 19) $SOL is trading around $45.97, up 14.19% in the past 24-hour period. Today’s intraday high of $47.25 was recorded at 1:27 p.m. UTC.

Source: TradingView

What is even more impressive is that since June 13, when crypto lender Celsius announced on its blog that due to “extreme market conditions” it was “pausing all withdrawals, Swap, and transfers between accounts”, $SOL has gone from $27.14 to $45.97, which is a gain of 69.38%.

As for $SOL’s performance vs $BTC, since June 13, SOL-BTC is up nearly 77% (from 0.0011110 to 0.0019634).

Source: TradingView

This led popular pseudonymous crypto analyst and trader “DonAlt” to tell his over 416K Twitter followers that SOL-BTC is “finally closing in on resistance,” and “if that resistance should break it’s pretty much at ATH again.”

A few hours later, another pseudonymous analyst/trader — |Crypto Rand” — told his over 288K Twitter followers that his technical analysis of SOL-USDT says that $80 is the next target for $SOL, which agrees with what “DonAlt” said yesterday:

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Featured Image by Larisa-K via Pixabay