Solana (SOL) Price to Skyrocket to $174 as Experts Warn of $2.98 Bln Short Liquidations

### Solana (SOL) Price Prediction: Poised to Reach $174 Amidst Market Surge and Short Liquidations

The cryptocurrency market has been witnessing a significant surge in prices, with Solana (SOL) leading the charge alongside major players like Ethereum (ETH) and Bitcoin (BTC). In recent developments, SOL has surged by 12% from its recent low of around $121.50, now settling at $156.7. Renowned crypto analyst Ali Martinez has now predicted that Solana’s price could further skyrocket to $174, fueled by a combination of bullish market trends and key indicators.

#### Key Patterns and Market Sentiment
Martinez highlighted a key pattern on Solana’s price chart – a W pattern, also known as a double bottom pattern. This pattern signifies that the coin has reached its lowest point twice at a similar price level, indicating a potential upward trend. Specifically, the pattern has formed around the $123 level, hinting at a positive movement towards the $174 target. Additionally, factors such as the rising probability of Donald Trump winning the US presidential election in November and anticipation for a Solana ETF have been contributing to the positive sentiment around the coin.

#### Short Liquidations and Market Impact
Martinez’s prediction carries weight as a surge to $176 could trigger a massive $2.98 billion in short positions to be liquidated. Such liquidations not only impact those betting against Solana but also have the potential to create a ripple effect across the cryptocurrency market, further boosting SOL’s price and bullish momentum.

#### Market Performance and Investor Interest
Currently, Solana is trading at $156.60, showing a 2.96% increase in the last 24 hours and a robust 7.73% rise over the past 30 days. The recovery in SOL’s price indicates a resurgence from the recent market downturn. Moreover, the significant surge in trading volume, up by 38.72% to $2.87 billion, underscores growing investor interest and support for Solana’s upward trajectory.

As the cryptocurrency market continues to evolve, Solana stands out as a promising asset with the potential to reach new heights in the coming days. Investors and traders are closely monitoring these developments, anticipating further price gains and market dynamics influenced by both technical patterns and external factors.