The overall cryptocurrency market is experiencing an impressive recovery. In the midst of this former hedge fund manager and host of CNBC’s Mad Money, Jim Cramer made a big call. He recently predicted that Kamala Harris would win the upcoming presidential election, adding: “I don’t see how Trump wins.”
Jim Cramer’s Inverted Nature
Following Cramer’s prediction, optimism is growing in the crypto market, with the community viewing his statement as a positive sign. In finance, most investors are familiar with the inverse nature of the signals commonly associated with Jim Cramer.
Despite Cramer predicting that Kamala Harris would win, the market and investors see this as a potential victory for Donald Trump. Furthermore, this could benefit the crypto market in particular, which could lead to impressive growth as the US presidential elections draw closer, with Harris and Trump among the top contenders.
We all know that Trump is pro-crypto, and if he wins the upcoming elections, there is a good chance that the crypto market will skyrocket.
Despite this prediction, which the sector views differently, Solana (SOL) the fifth largest cryptocurrency by market cap appears bullish and poised for a significant upward rally.
Solana technical analysis and upcoming level
According to CoinPedia’s technical analysis, SOL appears bullish as it has formed a bullish double-bottom price action pattern on a daily time frame at the crucial $137 support level and the 200 Exponential Moving Average (EMA). When investing and trading, investors and traders see this pattern as a bullish sign.
Based on the recent price momentum, if SOL breaks out of the neckline of the double bottom price action pattern and closes a daily candle above the $150 level, there is a strong possibility that it could rise 10% to reach the $165 level in the coming days.
Current price momentum
Currently trading around $145.7, SOL has experienced a price increase of over 5.2% in the last 24 hours. During the same period, trading volume and forward open interest increased by 7% and 4.3% respectively. This shows growing participation and interest among traders and investors.
