Solana, SOL could hit $266.44 in 2024
Solana’s price prediction for the most bearish scenario will value SOL at $108.40 in 2024.
Solana’s previous All Time High was on 7 November 2021 where SOL was priced at $259.96.
Solana’s price at the same time last week was $137.46. It has moved by -1.22 % in the past week and is currently at $135.50. Infact, in the past 24 hours, SOL has dumped by -0.75 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and SOL could hit $328.72 in 2025.
The total circulating supply of Solana as of writing this article was $462240602.90 and the marketcap of SOL remains at $62,751,795,521
SOL price prediction: Key highlights
1. Primary support and resistance levels
The weekly chart analysis suggested Solana's lowest support was at $18.
On the upper side, $250 can likely be the highest resistance SOL might encounter.
2. Market sentiment
The asset's current market behavior is seen to be slightly bullish in June 2024.
3. Predictive forecasts
According to the AI/ML prediction models, Solana has the potential to trade at an average price of over $6,000 by 2028 and $1 million by 2035.
Get deep insights on SOL via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:
SOL technical analysis: Recovery sparks investor optimism
SOL stood out in 2023 and captured significant investor interest this year. There is widespread speculation that SOL will continue to reach new highs, making predictions for Solana's price in 2024 particularly noteworthy.
At the outset, SOL bulls elevated the price to establish standing on the lowest floor at $18. Subsequent recovery attempts did not translate as expected, bringing the asset back to the former level by September. This period of turbulence set the stage for a remarkable turnaround later in the month as SOL began its recovery journey.
This momentum culminated in a mid-December surge above $88. Following this, SOL tested the resistance at $125. The rejection at the resistance level was due to the market’s exhaustion at high buying levels.
As the calendar turned to 2024, SOL returned to $88. January witnessed SOL's price dropping below the critical $88 and $90 price range, albeit momentarily, before regaining momentum towards the end of the month.
A price surge toward the end of February enabled SOL to overcome $125, turning it into a support level by March. By mid-month, bulls reached a new high resistance of $204 while standing afoot on $180.
After a long test, SOL was rejected in April. The broader market downturn pushed the price below the critical $150 mark, which was tested repeatedly. This culminated in a breakout in mid-May. At the time of writing, SOL was trading at $159.
AMBCrypto highlighted recently that the network’s Unique Active Wallets (UAWs) surged. Decentralized applications (dApps) like Jupiter (JUP), Raydium (RAY), and Magic Eden fueled this surge, leading to significant market cap increases in these tokens and a rise in demand for SOL. However, SOL struggled to sustain its growth despite the increased demand due to a pattern of frequent pumps and dumps.
Another report by AMBCrypto revealed that the presence of buyers dominated those of sellers. This could be interpreted as a bullish sign. If the buying momentum continues, SOL can likely break out over the current resistances and reach the peak chart barrier in the short-to-medium term. Reclaiming the all-time high (ATH) would be SOL's next significant milestone. Nonetheless, the $250 level might also be a significant barrier to upward momentum.
In the event of a downturn, SOL may find itself inching closer to its current support. A break below it can repeat past patterns. Nonetheless, if $125 is compromised, it will likely result in a bearish reversal, pushing the price below the critical $100 mark.
Our advanced predictive models have forecasted a notable surge in its value. These models forecast the upward trajectory to last, with the average price potentially increasing to over $6,000 in 2028.
Looking into the future, the predictions become even more bullish by 2035. Solana is expected to break through the significant barriers, establishing a new level of value with an average trading price anticipated to be over $1 million.
SOL's 2024 roadmap: Key indicators to watch and trade
SOL’s trading volume reflected its price trajectory, with notable spikes coinciding with rallies. This indicated active market participation and investor confidence. However, the recent crash caused the volume to drop, signaling caution.
The Moving Average Convergence Divergence (MACD) line dominated the signal line, with a notable exception in September. Both lines remained below zero, albeit on an upward trajectory.
A significant positive shift in the MACD line in mid-October was closely followed by the signal line. Starting in April, the MACD line began descending and eventually dropped below its counterpart later in the month, marking a bearish crossover. The latest values were histogram at -3.34, MACD line at 21.48, and signal line at 24.82. This suggested a decrease in the momentum, which could indicate a potential reversal or slowdown in the bullish trend.
The Chaikin Money Flow (CMF) remained positive throughout the year. It ended the period with 0.21, a slight recovery from last month's lows, which indicated continued buying interest and accumulation.
Solana Price Prediction
Solana has had an eventful 2023. To simplify the latest SOL price prediction, we have divided up the prediction by short term Solana price prediction and long term Solana price prediction. As of writing this article, SOL had a trading volume of 1,673,727,659. Solana has gone down by -18.40% in the past 30 days.
According to our analysis in the short term, Solana price prediction for August 2024 shows the average price of SOL at 203.19 and the highest possible price for August 2024 would be $217.41.
Further, according to our analysis in the long term, Solana price prediction for December 2024 shows the average price of SOL at 222.03 and the highest possible price for December 2024 would be $237.57.
Solana price prediction 28 June 2024: Solana's price for 28 June 2024 according to our analysis should range between $128.17 to $147.46 and the average price of SOL should be around $137.82.
Solana price prediction 29 June 2024: Solana's price for 29 June 2024 according to our analysis should range between $128.94 to $148.35 and the average price of SOL should be around $138.64.
Solana price prediction 30 June 2024: Solana's price for 30 June 2024 according to our analysis should range between $130.80 to $150.49 and the average price of SOL should be around $140.65.
Solana price prediction 1 July 2024: Solana's price for 1 July 2024 according to our analysis should range between $133.33 to $153.40 and the average price of SOL should be around $143.37.
Solana price prediction 6 July 2024: Solana's price for 6 July 2024 according to our analysis should range between $142.05 to $163.44 and the average price of SOL should be around $152.74.
Solana price prediction 11 July 2024: Solana's price for 11 July 2024 according to our analysis should range between $151.28 to $174.05 and the average price of SOL should be around $162.67.
Solana price prediction 21 July 2024: Solana's price for 21 July 2024 according to our analysis should range between $171.18 to $196.95 and the average price of SOL should be around $184.06.
Solana price prediction August 2024: Solana's price for August 2024 according to our analysis should range between $188.97 to $217.41 and the average price of SOL should be around $203.19.
Solana price prediction September 2024: Solana's price for September 2024 according to our analysis should range between $193.35 to $222.45 and the average price of SOL should be around $207.90.
Solana price prediction October 2024: Solana's price for October 2024 according to our analysis should range between $197.73 to $227.49 and the average price of SOL should be around $212.61.
Solana price prediction November 2024: Solana's price for November 2024 according to our analysis should range between $202.11 to $232.53 and the average price of SOL should be around $217.32.
Solana price prediction December 2024: Solana's price for December 2024 according to our analysis should range between $206.49 to $237.57 and the average price of SOL should be around $222.03.
Solana's Long Term Price Prediction
Solana’s long term Price Prediction below is a look at SOL’s future prospect with regards to price. Solana was last seen at $135.50, with a market cap of $62,751,795,521 and trading volumes of $1,673,727,659. SOL’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.
Solana price prediction 2024: Solana's price for 2024 according to our analysis should range between $177.63 to $266.44 and the average price of SOL should be around $222.03.
Solana price prediction 2025: Solana's price for 2025 according to our analysis should range between $219.15 to $328.72 and the average price of SOL should be around $273.94.
Solana price prediction 2026: Solana's price for 2026 according to our analysis should range between $276.13 to $414.19 and the average price of SOL should be around $345.16.
Solana price prediction 2027: Solana's price for 2027 according to our analysis should range between $347.92 to $521.88 and the average price of SOL should be around $434.90.
Solana price prediction 2028: Solana's price for 2028 according to our analysis should range between $438.38 to $657.57 and the average price of SOL should be around $547.97.
Solana price prediction 2029: Solana's price for 2029 according to our analysis should range between $552.36 to $828.54 and the average price of SOL should be around $690.45.
Solana price prediction 2030: Solana's price for 2030 according to our analysis should range between $695.97 to $1043.95 and the average price of SOL should be around $869.96.
Solana price prediction 2031: Solana's price for 2031 according to our analysis should range between $876.92 to $1315.38 and the average price of SOL should be around $1096.15.
Solana price prediction 2032: Solana's price for 2032 according to our analysis should range between $1104.92 to $1657.38 and the average price of SOL should be around $1381.15.
Solana price prediction 2033: Solana's price for 2033 according to our analysis should range between $1392.20 to $2088.30 and the average price of SOL should be around $1740.25.
Solana price prediction 2035: Solana's price for 2035 according to our analysis should range between $2210.26 to $3315.39 and the average price of SOL should be around $2762.82.