Investors told when Solana could reach $1,000
The end of July 2024 will be remembered by members of the crypto community thanks to positive news that could trigger the growth of the Solana cryptocurrency rate
We tell you what is happening with SOL and to what levels, according to investors, the cryptocurrency can grow to thanks to the positive news background.
What is happening with Solana
Solana is one of the most capitalized cryptocurrencies. On July 30, 2024, the crypto community of the project faced positive news - the US Securities and Exchange Commission (SEC) removed SOL from the list of illegally issued securities. With this move, the regulator dropped its claims against Solana and recognized the legitimacy of the crypto project, bringing closer the likely launch of spot ETFs based on the coin.
SOL reacted to the news with a slight increase. As of the time of writing this review, Solana is trading at $182. Weekly growth has stalled at 5.09%. SOL is trading almost 30% below its all-time high of $260 on November 7, 2021.
Amid the positive news on Solana, crypto community participants shared their predictions.
Solana prediction
According to representatives of the crypto industry, the SEC's rejection of claims against the project will lead to the listing of Solana on popular trading platforms, which previously had to refuse to work with the coin due to pressure from the regulator. The new listings could increase demand for the cryptocurrency and support its growth.
Many members of the crypto community believe that the positive news could take Solana all the way to $1,000. Crypto trader Captain Faibik shared with his subscribers the anticipated trajectory of SOL's movement towards its designated height. In his opinion, investors will see Solana at $1000 by October 2024.
Some members of the crypto community adhere to much more modest forecasts, which imply an update of the absolute maximum of the cryptocurrency's value in the fall. For example, PlanD trader believes that the Solana chart shows a symmetrical triangle, which could take the coin to levels above $300 before the end of the year.
Solana forecast from PlanD
The nearest resistance on the growth path of SOL, according to investors, is at $193.
Recall, earlier, an analyst popular in the crypto community shared a list of Solana insiders, on which you can earn millions. $SOL
