Solana price prediction, SOL’s price has dumped by -2.38% in the last 24 hours.
Solana, SOL could hit $396.81 in 2024
Solana’s price prediction for the most bearish scenario will value SOL at $126.82 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 $165.91. It has moved by -4.51 % in the past week and is currently at $158.52. Infact, in the past 24 hours, SOL has dumped by -2.38 %. There is a slight bearish sentiment in the crypto market. The long term sentiment, however, remains bullish and SOL could hit $825.80 in 2025.
The total circulating supply of Solana as of writing this article was $460671509.17 and the marketcap of SOL remains at $72,995,495,501
SOL price prediction: Key highlights
1. Primary support and resistance levels
The weekly chart analysis suggested Solana's lowest support was at $15.
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 May 2024.
3. Predictive forecasts
According to the AI/ML prediction models, Solana has the potential to trade at an average price of over $500 by 2028 and $3,000 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: Coin sheds gains as market bleeds
SOL was among the standout performers in 2023, capturing 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 struggled to surpass the resistance level of $22. Initial attempts to overcome this level were rejected. Seller dominance was particularly evident in June, as SOL declined to the lowest support level of $15.
Despite this setback, the bulls did not retreat. From mid-June, they rallied once again. The price managed to cross this level briefly in mid-July before succumbing to a downtrend again. This period of turbulence set the stage for a remarkable turnaround in late September as SOL began its recovery journey.
In mid-October, bullish momentum gained substantial force, propelling SOL past $22. This momentum culminated in a mid-December surge above $88. Following this, SOL tested the resistance at $126.
The rejection at the resistance level was due to the market’s exhaustion at high buying levels. As the calendar turned to 2024, SOL landed back on the support at $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 significant price surge toward the end of February enabled SOL to overcome $126, turning it into a support level by March. By mid-month, bulls reached a new high resistance of $204 while standing afoot on $150.
After a long test, SOL was rejected in April. The broader market downturn pushed the price below the critical $150 mark, which has been tested repeatedly since. At the time of writing, SOL was trading at $146.
AMBCrypto reported that popular decentralized applications (dApps) on the network saw a significant increase in active addresses recently. The growing development activity on these dApps indicated that new updates and upgrades might be coming soon. These advancements could help attract even more users to the network.
Recent data also highlighted that Solana outperformed both Bitcoin (BTC) and Ethereum (ETH) in terms of unique non-fungible tokens (NFTs) traded over the last month.
If the buying momentum continues, SOL can likely break out over the current resistance 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 serve as a significant barrier to further upward momentum.
However, the Solana network has faced challenges in the decentralized finance (DeFi) sector. The volume on decentralized exchanges (DEXs) has dropped significantly over the past few days, and the Total Value Locked (TVL) in DeFi has stagnated.
In the event of a downturn, SOL may find itself inching closer to its current support. A break below it can 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 more than $500 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 $3,000
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 but not to its bearish lows.
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 -4.43, MACD line at 22.32, and signal line at 26.74. 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 0.15, a slight dip from its previous highs. While the value was still positive, indicating continued buying interest, the reduced value implied that the intensity had diminished.
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 1,689,123,053. Solana has gone up by 2.97% 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 259.10 and the highest possible price for August 2024 would be $277.23.
Further, according to our analysis in the long term, Solana price prediction for December 2024 shows the average price of SOL at 316.36 and the highest possible price for December 2024 would be $338.50.
Solana price prediction 9 June 2024: Solana's price for 9 June 2024 according to our analysis should range between $160.47 to $184.62 and the average price of SOL should be around $172.54.
Solana price prediction 10 June 2024: Solana's price for 10 June 2024 according to our analysis should range between $162.90 to $187.42 and the average price of SOL should be around $175.16.
Solana price prediction 11 June 2024: Solana's price for 11 June 2024 according to our analysis should range between $163.45 to $188.05 and the average price of SOL should be around $175.75.
Solana price prediction 12 June 2024: Solana's price for 12 June 2024 according to our analysis should range between $163.13 to $187.69 and the average price of SOL should be around $175.41.
Solana price prediction 17 June 2024: Solana's price for 17 June 2024 according to our analysis should range between $172.00 to $197.90 and the average price of SOL should be around $184.95.
Solana price prediction 22 June 2024: Solana's price for 22 June 2024 according to our analysis should range between $182.21 to $209.64 and the average price of SOL should be around $195.93.
Solana price prediction 2 July 2024: Solana's price for 2 July 2024 according to our analysis should range between $206.25 to $237.30 and the average price of SOL should be around $221.77.
Solana price prediction August 2024: Solana's price for August 2024 according to our analysis should range between $240.96 to $277.23 and the average price of SOL should be around $259.10.
Solana price prediction September 2024: Solana's price for September 2024 according to our analysis should range between $254.27 to $292.55 and the average price of SOL should be around $273.41.
Solana price prediction October 2024: Solana's price for October 2024 according to our analysis should range between $267.59 to $307.87 and the average price of SOL should be around $287.73.
Solana price prediction November 2024: Solana's price for November 2024 according to our analysis should range between $280.90 to $323.18 and the average price of SOL should be around $302.04.
Solana price prediction December 2024: Solana's price for December 2024 according to our analysis should range between $294.21 to $338.50 and the average price of SOL should be around $316.36.
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 $158.52, with a market cap of $72,995,495,501 and trading volumes of $1,689,123,053. 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 $264.54 to $396.81 and the average price of SOL should be around $330.67.
Solana price prediction 2025: Solana's price for 2025 according to our analysis should range between $550.54 to $825.80 and the average price of SOL should be around $688.17.
Solana price prediction 2026: Solana's price for 2026 according to our analysis should range between $1145.74 to $1718.61 and the average price of SOL should be around $1432.17.
Solana price prediction 2027: Solana's price for 2027 according to our analysis should range between $2384.43 to $3576.65 and the average price of SOL should be around $2980.54.
Solana price prediction 2028: Solana's price for 2028 according to our analysis should range between $4962.33 to $7443.49 and the average price of SOL should be around $6202.91.
Solana price prediction 2029: Solana's price for 2029 according to our analysis should range between $10327.26 to $15490.88 and the average price of SOL should be around $12909.07.
Solana price prediction 2030: Solana's price for 2030 according to our analysis should range between $21492.39 to $32238.58 and the average price of SOL should be around $26865.49.
Solana price prediction 2031: Solana's price for 2031 according to our analysis should range between $44728.51 to $67092.76 and the average price of SOL should be around $55910.64.
Solana price prediction 2032: Solana's price for 2032 according to our analysis should range between $93085.95 to $139628.93 and the average price of SOL should be around $116357.44.
Solana price prediction 2033: Solana's price for 2033 according to our analysis should range between $193724.20 to $290586.31 and the average price of SOL should be around $242155.26.
Solana price prediction 2035: Solana's price for 2035 according to our analysis should range between $839041.33 to $1258561.99 and the average price of SOL should be around $1048801.66.
