Key Takeaways
- Solana Current Status: Solana price has been demonstrating massive strength in the past few weeks, and as a result, the token is at the foothills of a gigantic explosion in the chart pattern. Meanwhile, the volume remains within the average range, suggesting the bulls are yet to enter the ring, which may cause a massive upswing in the coming days, leading to a new ATH very soon.
- Market Performance: After soaring by above 20% since the start of the week, the bulls appear to have exhausted as the price drains marginally but maintains growth of around 1.09%, trading at [current_prices pair=”SOLUSDT”]. The volume drops by over 40%, but the market capitalization remains elevated by 1.16%. The bullish sentiments have surged to 85%, while the Fear-Greed Index has risen to 70, suggesting the market sentiments have turned into greed.
- Technical Analysis: The Solana price broke above the ascending trend line and is testing one of the crucial resistance levels, suggesting the rise of a fresh bullish trend. However, the bullish volume has begun to accumulate, which may increase the pressure, resulting in the token maintaining a steep ascending trend to reach fresh highs beyond $220.
- SOL Price Prediction: The SOL price has been displaying immense strength since the start of the year as the levels surged by above 220%, marking highs above $200 from levels around $60. The latest upswing demonstrates the bulls getting back into action, which may keep up the bullish momentum for the rest of the year.
- Future Outlook: The Solana ecosystem is gaining huge attention with the transactions over the platform recording new highs. Although the volume remains lower, the traffic remains pretty high, suggesting enough attention from the traders over the token. Therefore, the Solana price is believed to display massive bullish action in the upcoming bull run, forming new highs above $500.
Where will Solana Price Head Next?
- Similar to Bitcoin, Solana price maintains a descending consolidation within a parallel channel and recently broke out of the range
- The token is trying to rise and sustain above the pivotal resistance at $187.44 and a weekly close above these levels may validate the start of a fresh bullish spell.
- The Relative Strength Index (RSI) is undergoing a parabolic recovery, suggesting the token may maintain a strong ascending trend withstanding bearish pressure if it occurs in between.
- Therefore, the price may maintain a healthy upswing and enter the final resistance zone between $199.78 and $210.15.
- A rise from these levels could trigger a fine upswing, as a bullish weekly close may confirm a breakout from the bull flag, initiating a strong rise toward the higher targets, probably above $300.
| Indicator | Value |
|---|---|
|
Support levels (Fibonacci, S1/S2/S3)
|
$142.55/ $130.73/ $111.61
|
|
Resistance levels (Fibonacci, R1/R2/R3) |
$180.79 / $192.61 / $211.73
|
|
50-day EMA |
$159.97
|
|
200-day EMA |
$146.88
|
|
RSI level |
66.31
|
|
MACD level (Signal Line) |
5.75
|
Solana Price Prediction November 2024
Regardless of the market trend, the Solana price has maintained a steep ascending trend since the start of September. After the rebound from the interim lows of around $160, the SOL price printed massive bullish candles and cleared one of the major resistances. Now that the token has entered a bullish range, a sustained upswing could be fast approaching. Therefore, the SOL price could maintain a healthy upswing and close the monthly trade above $200 at around $205 to $208.
December is believed to be one of the most bullish months of the year, as the market participants usually become more optimistic. The volume surpasses above the range, which could pile up the buying pressure over the token. During the second half of the month, the SOL price is believed to trigger a fine upswing and eventually mark new yearly highs above $220. However, by the end of the month, the Solana price is believed to trade close to $230 and close the yearly trade around $235 to $240.
Solana Price Prediction 2025
In early 2025, Solana price is anticipated to reach a midpoint, setting the stage for an ongoing uptrend in the first two quarters. This momentum could propel the SOL price close to the highs of the current bull market, targeting a range between $380 and $450. However, before achieving the significant $500 mark, Solana might experience a new decline due to the exhaustion of bullish momentum. The initial retreat may start as a minor correction, potentially followed by a small rebound. Over time, bearish forces are expected to strengthen, possibly marking the onset of a new bear market. This shift could lead to a sharp and sustained downward trend until the end of the year, with the price trading between $280 and $350, indicating a decline of more than 35% to 40% from its previous highs.
The bearish trend that began at the end of 2025 is expected to persist into 2026, maintaining its negative trajectory. Solana price might see a significant decline of over 55% by the end of the first half of the year. However, it is anticipated to find support at the $240 level. As the year progresses into its latter part, bearish activity is predicted to strengthen, with the market yet to reach its lowest points in the ongoing bear market. The SOL price could potentially lose over 80% of its value, trading in the range of $180 to $200. By the end of the year, bullish forces may attempt to halt the bearish trend, aiming to trade between $215 and $225.
After hitting the lowest points of the current bear market, Solana price is predicted to begin a gradual recovery, although without strong momentum. In the early part of 2027, bullish activity may intensify, halting the ongoing downward trend and raising price levels above the $280 resistance level. The price is expected to follow an upward consolidation pattern, reaching higher targets shortly. As the year nears its end, Solana price is anticipated to reverse its direction, maintaining a respectable upward trend and regaining levels above $300. By the end of the year, Solana price could trade between $330 and $350, with bullish forces maintaining a firm grip on the rally.
Solana price is expected to maintain a strong upward trend from the beginning of the year, consistently showing higher highs and lows. A notable change in market direction is anticipated to initiate a slow recovery phase for Solana in the second quarter. As the year progresses into the second half, the price is expected to gain momentum, sustaining a significant upward path. By the end of the year, Solana price might see an improvement from its previous lows, potentially trading between $420 and $480.
After a potentially lengthy bearish phase extending for over a year, a significant price increase is expected. This trend is anticipated to maintain its upward trajectory throughout the year as Solana price aims to regain its previous position. The ongoing recovery may gradually evolve into a notable upward trend, possibly transforming into a full-fledged bull run in the final quarter. By the end of the year, it is predicted that Solana price will likely trade within the range of $530 to $550.
The Solana trade in 2030 is expected to begin with a strong uptrend, focusing on quickly regaining higher price levels. This upward trend is foreseen to continue throughout the year, marked by consistently higher highs and lows. As the year progresses into its second half, the ongoing upward movement might evolve into a full-fledged bull run, reaching new price highs. The price could surpass the significant milestone of $600, ultimately achieving new peaks during this prevailing bullish phase, possibly around $650 to $680. By year-end, it is projected that Solana price may settle at approximately $580 to $610 after encountering resistance at the highs.
Will Solana Price Rise Again in 2024?
The Solana chain has been performing exceptionally well since the start of the year, and a positive impact has been observed on its native token, SOL. Therefore, the price is believed to show positive upside strength and rise for the rest of 2024.
