Xlera8

Solana (SOL) Price Prediction 2023, 2024, 2025-2030

  • Bullish SOL price prediction for 2023 is $125.33 to $187.66.
  • Solana (SOL) price might reach $200 soon.
  • Bearish (SOL) price prediction for 2023 is $47.79.

In this Solana (SOL) price prediction 2023, 2024-2030,  we will analyze the price patterns of SOL by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency

TABLE OF CONTENTS

INTRODUCTION

  • Solana (SOL) Current Market Status
  • What is Solana (SOL)?
  • Solana (SOL) 24H Technicals

SOLANA (SOL) PRICE PREDICTION 2023

  • Solana (SOL) Support and Resistance Levels
  • Solana (SOL) Price Prediction 2023 — RVOL, MA & RSI
  • Solana (SOL) Price Prediction 2023 — ADX, RVI
  • Comparison of SOL with BTC, ETH
SOLANA (SOL) PRICE PREDICTION 2024, 2025, 2026-2030
CONCLUSION
FAQ

Solana (SOL) Current Market Status

Current Price $101.51
24 – Hour Price Change 9.12% Down
24 – Hour Trading Volume $4,588,549,449
Market Cap $43,518,937,909
Circulating Supply 428,714,419 SOL
All – Time High $260.06 (On Nov 07, 2021)  
All – Time Low $0.5052 (On May 11, 2020)  

SOL Current Market Status (Source: CoinMarketCap)

What is Solana (SOL)

TICKER SOL
BLOCKCHAIN Solana 
CATEGORY Ethereum Scaling Solution
LAUNCHED ON March 2020
UTILITIES Governance, security, gas fees & rewards

Solana (SOL), a cryptocurrency coin, operates on its own scalable blockchain, enabling faster transaction speeds, and was introduced in March 2020. By combining proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms, Solana enhances scalability and facilitates the creation of decentralized applications (DApps). In addition, With its hybrid model, Solana can validate blocks efficiently and provide accurate timestamps. 

Further, Solana has also made significant strides in revolutionizing the NFT marketplace. Solana-based NFTs are gaining traction and are increasingly becoming a preferred choice over Ethereum-based NFTs.

Solana 24H Technicals

(Source: TradingView)

Solana (SOL) Price Prediction 2023

Solana (SOL) ranks 5th on CoinMarketCap in terms of its market capitalization. The overview of the Solana price prediction for 2023 is explained below with a daily time frame.

SOL/USDT Descending Triangle Pattern (Source: TradingView)

In the above chart, Solana (SOL) laid out a descending triangle pattern. The descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern.

As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete.

Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish.

At the time of analysis, the price of Solana (SOL) was recorded at $101.51. If the pattern trend continues, then the price of SOL might reach the resistance level of $115.45, and $126.39. If the trend reverses, then the price of SOL may fall to the support of $101.71.

Solana (SOL) Resistance and Support Levels

The chart given below elucidates the possible resistance and support levels of Solana (SOL) in 2023.

SOL/USDT Resistance and Support Levels (Source: TradingView)

From the above chart, we can analyze and identify the following as resistance and support levels of Solana (SOL) for 2023.

Resistance Level 1 $125.33
Resistance Level 2 $187.76
Support Level 1 $79.20
Support Level 2 $47.79

SOL Resistance & Support Levels

Solana (SOL) Price Prediction 2023 — RVOL, MA, and RSI

The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Solana (SOL) are shown in the chart below.

SOL/USDT RVOL, MA, RSI (Source: TradingView)

From the readings on the chart above, we can make the following inferences regarding the current Solana (SOL) market in 2023.

INDICATOR PURPOSE READING INFERENCE
50-Day Moving Average (50MA) Nature of the current trend by comparing the average price over 50 days 50 MA = $69.81Price = $104.20
(50MA < Price)
Bearish / Downtrend
Relative Strength Index (RSI) Magnitude of price change;Analyzing oversold & overbought conditions 64.60
<30 = Oversold
50-70 = Neutral>70 = Overbought
Neutral
Relative Volume (RVOL) Asset’s trading volume in relation to its recent average volumes Below cutoff line Weak volume

Solana (SOL) Price Prediction 2023 — ADX, RVI

In the below chart, we analyze the strength and volatility of Solana (SOL) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).

SOL/USDT ADX, RVI (Source: TradingView)

From the readings on the chart above, we can make the following inferences regarding the price momentum of Solana (SOL).

INDICATOR PURPOSE READING INFERENCE
Average Directional Index (ADX) Strength of the trend momentum 45.36 Strong Trend
Relative Volatility Index (RVI) Volatility over a specific period 45.05

<50 = Low
>50 = High

Low volatility

Comparison of SOL with BTC, ETH

Let us now compare the price movements of Solana (SOL) with that of Bitcoin (BTC), and Ethereum (ETH).

BTC Vs ETH Vs SOL Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of SOL is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of SOL also increases or decreases respectively.

Solana (SOL) Price Prediction 2024, 2025 – 2030

With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Solana (SOL) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.

Year  Bullish Price  Bearish Price
Solana (SOL) Price Prediction 2024 $205 $45
Solana (SOL) Price Prediction 2025 $210 $40
Solana (SOL) Price Prediction 2026 $215 $35
Solana (SOL) Price Prediction 2027 $220 $30
Solana (SOL) Price Prediction 2028 $230 $25
Solana (SOL) Price Prediction 2029 $240 $20
Solana (SOL) Price Prediction 2030 $250 $15

Conclusion

If Solana (SOL) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Solana (SOL) price prediction for 2023 is $187.66. Comparatively, if unfavorable sentiment is triggered, the bearish Solana (SOL) price prediction for 2023 is $47.79. 

If the market momentum and investors’ sentiment positively elevates, then Solana (SOL) might hit $200. Furthermore, with future upgrades and advancements in the Solana ecosystem, SOL might surpass its current all-time high (ATH) of $260.06 and mark its new ATH. 

FAQ

1. What is Solana (SOL)?

Solana (SOL) is the native crypto coin of Solana. Solana runs on a scalable blockchain that runs with a hybrid consensus model that integrates proof-of-stake (PoS) and proof-of-history (PoH). SOL was launched in March 2020.

2. Where can you purchase Solana (SOL)?

Solana  (SOL)  has been listed on many crypto exchanges which include Binance, OKX, Bybit, Bitunix, and CoinTR Pro.

3. Will Solana (SOL) reach a new ATH soon?

With the ongoing developments and upgrades within the Solana Platform, SOL has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Solana (SOL)?

On November 06, 2021, SOL reached its new all-time high (ATH) of $260.06.

5. What is the lowest price of Solana (SOL)?

According to CoinMarketCap, SOL hit its all-time low (ATL) of $0.5052 on May 11, 2020.

6. Will Solana (SOL) reach $200?

If Solana (SOL) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $200 soon.

7. What will be Solana (SOL) price by 2024?

Solana (SOL) price is expected to reach $205 by 2024.

8. What will be Solana (SOL)  price by 2025?

Solana  (SOL)  price is expected to reach $210 by 2025.

9. What will be Solana (SOL)  price by 2026?

Solana (SOL) price is expected to reach $215 by 2026.

10. What will be Solana (SOL) price by 2027?

Solana  (SOL)  price is expected to reach $220 by 2027.  

Top Crypto Predictions

PancakeSwap (CAKE) Price Prediction 2023, 2024, 2025-2030 

Render Token (RNDR) Price Prediction 2023, 2024, 2025-2030 

Solana (SOL) Price Prediction 2023, 2024, 2025-2030

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Chat with us

Hi there! How can I help you?