Crypto analyst CobraAvant-garde provided a bullish outlook for the Solana MYRO meme coin. The analyst said the meme coin is poised for an explosive 300% price breakout and revealed how it could happen.
Solana Meme Coin MYRO is Ready for a 300% Breakout
In a TradingView articlecrypto analyst CobraVanguard has predicted that Solana meme coin MYRO is poised for a 300% price breakout. This happened as the analyst revealed that the price had formed a bullish wedge on the daily calendar. He added that if it breaks out, it could push the price up to around $0.15.
In an update, the analyst said the trade setup was already in play. However, he urged market participants to wait and be cautious, given the current volatility in the crypto market. CobraVanguard added that the reason for the accident was the Trump piecewhich drained liquidity from all other Solana meme coins.
Regardless, this recent analysis undoubtedly brings some optimism regarding MYRO price. THE Solana The meme coin has seen a massive decline since hitting its current all-time high (ATH) of $0.44 in March last year. For context, the meme coin is 90% below its current ATH.
This decline in the price of MYRO is partly due to the fact that new meme coins in the Solana ecosystem have drained liquidity from older coins like it. Analysis from Cobra Vanguard suggests that the meme coin is destined to rise from the ashes and even rally back to $0.15, which could be the first step in reaching a new ATH.
MYRO could see a 600% price hike
Crypto analyst Javon Marks provided a more optimistic outlook for the Solana MYRO coin, predicting that it could see a price rise of over 600%. This came as the analyst pointed out that the coin’s price on the non-log daily chart is currently holding steady, broken by a significant downward wedge trend.
In the same vein, the analyst noted that the meme coin price could be primed to deliver significant results towards the breakout target of $0.417776. He added that with this target of over 630%, MYRO could record a price increase of over 7 times from its current level.
Crypto analyst Yzzz also provided a bullish outlook for the Solana coin, stating that “the fun starts soon,” indicating that a bullish reversal could be on the horizon. The analyst noted that the meme coin is listed on Bybit, with the crypto exchange holding 20% of the supply. He suggested that the exchange would, at some point, contribute to a massive price spike for the meme coin.
At the time of writing, MYRO price is trading at around $0.039, down more than 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Unsplash, chart from Tradingview.com