Solana could be on track for a massive 323% rally this altcoin season, according to a new technical analysis by crypto strategist Quantum Ascend, who projects a potential peak around $830 based on market cap extensions and Elliott Wave structures. In a detailed July 22 breakdown, the analyst argues that most retail traders continue to overlook the impact of inflation and token supply dynamics\u2014factors that significantly affect price projections.<\/p>\n
\u201cLooking at the market cap chart, it\u2019s up almost 216,000%, while the price chart is only up 18,000%. So what this tells us is, there\u2019s some kind of inflationary pressure on the asset,\u201d Quantum Ascend said<\/a>. \u201cYou have to use the market cap chart in order to measure the price.\u201d<\/p>\n Using Elliott Wave Theory, the analyst identified Solana as currently operating within a macro third wave\u2014arguably the strongest phase of a five-wave impulse sequence. According to his count, Solana completed its first and second macro waves during previous market cycles and is now accelerating through the early stages of wave three, a move that could culminate in a parabolic rally.<\/p>\n \u201cRight now, what we\u2019re working on is this macro wave three,\u201d he explained. \u201cThe bear market will be macro four, and then we\u2019ll have another wave at some point well into the future.\u201d<\/p>\n To support this thesis, Quantum Ascend pulled Fibonacci extensions from Solana\u2019s historical price structures<\/a>. He pointed to confluence between the 2.618 extension of the most recent accumulation range and the 3.618 extension of a broader range, both of which intersect near a $300 billion market cap. However, he views this zone as a mid-cycle checkpoint rather than a terminal target<\/a>.<\/p>\n His conservative scenario puts Solana at a $620 price tag, representing a 217% move from current levels. But his primary projection suggests a 323% rally, translating to an $830 top based on market cap behavior and structural alignment. He cautioned that simply targeting round numbers like $1,000 can mislead traders, especially when inflation-adjusted market cap analysis tells a different story.<\/p>\n \u201cIf I pull those same extensions here for Solana [on the price chart], because of the inflation, you\u2019d be looking for $1,000, which is a nice round number and something that retail would love to hear,\u201d he said. \u201cBut the market cap chart shows it\u2019s topping that same extensions only at $830.\u201d<\/p>\n The discrepancy arises from Solana\u2019s token inflation. As new tokens enter circulation, they dilute the impact of price movements. This is why, Quantum Ascend insists, market cap projections provide a more accurate view of potential upside. \u201cThere\u2019s not enough people paying attention to market cap. You have to do it,\u201d he emphasized.<\/p>\n In his final breakdown, the analyst laid out both price zones. \u201cWe have $620 as our conservative, $830 as our primary here for Solana,\u201d he concluded. While some viewers may find the upper bound modest compared to speculative retail targets, he stressed the importance of realism over hype<\/a>. \u201cWe\u2019re trying to make sure that we\u2019re not buying into any crazy narratives or anything and we\u2019re not leaving anything on the table and we\u2019re not round tripping our bags.\u201d<\/p>\n At press time, SOL traded at $195.<\/p>","protected":false},"excerpt":{"rendered":" Solana could be on track for a massive 323% rally this altcoin season, according to a new technical analysis by crypto strategist Quantum Ascend, who projects a potential peak around $830 based on market cap extensions and Elliott Wave structures. In a detailed July 22 breakdown, the analyst argues that most retail traders continue to […]<\/p>\n","protected":false},"author":0,"featured_media":82856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82855"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82855"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/82856"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}