Solana, SOL could hit $181.47 in 2024
Solana’s price prediction for the most bearish scenario will value SOL at $107.73 in 2024.
Solana’s price prediction for the most bullish scenario will value SOL at $181.47 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 $135.54. It has moved by 1.45 % in the past week and is currently at $134.66. Infact, in the past 24 hours, SOL has pumped by 3.24 %. There is a slight bullish sentiment in the crypto market. The long term sentiment, however, remains bullish and SOL could hit $213.00 in 2025.
The total circulating supply of Solana as of writing this article was $468367616.52 and the marketcap of SOL remains at $63,071,598,388. Solana price in the longer term is expected to reach a high of $621.20 in 2035.
SOL price prediction: Key highlights
1. Primary support and resistance levels
Within the weekly chart, the lowest support was at $19.
$250 can be expected as the highest resistance.
2. Market sentiment
The market is seen to be slightly bearish in September 2024.
3. Predictive forecasts
According to the AI/ML prediction algorithms, SOL can trade at an average price of around $400 by 2030 and $800 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: Market remains uncertain about future direction
SOL distinguished itself in 2023 and garnered considerable attention from investors this year. There is widespread anticipation that SOL will continue to achieve new peaks, rendering the Solana price prediction in 2024 especially significant.
The initial period was detrimental to SOL’s value as it dropped below the lowest yearly support of $19. This unstable period paved the way for a significant reversal by the end of September when the coin began its upward trajectory.
The momentum peaked with a robust pump in mid-December, pushing the price above $88. Subsequently, it challenged the $122 level but faced rejection due to market exhaustion from intense buying activity.
By the onset of 2024, SOL revisited the $88 mark. In January, the price briefly dipped below the pivotal $88 and $90 zones, only to regain strength as the month concluded. Consecutive bullish candles from late February propelled the coin to the peak resistance of $204 in mid-March.
Nonetheless, April witnessed a rejection after a prolonged standoff. A broader market downturn drove the price to $122. A gradual accumulation of buying pressure from late month culminated in the asset reclaiming $161 in late May to test $187.
However, this triggered sell-offs. In addition, a prominent presence of red candles until mid-June erased the previous gains as $122 held off declines later in the month. After briefly stabilizing, the coin retested the previous resistance in mid-July. Once again, it rebuffed bulls.
By early August, the price returned to its six-month support of $122. While Brazil's approval of the SOL exchange-traded fund (ETF) garnered substantial hype, it wasn’t until the latter half of the month that the price rallied to challenge $161.
This recovery mirrored that of the broader market. Furthermore, Brazil approved a second SOL ETF. Regardless, the price saw another decline. The decline in memecoin hype and, thereby, the network adoption and activity were significant contributors to investor pessimism. In addition, the removal of U.S. spot SOL ETF filings further dented sentiment. At press time, SOL’s trading price was $129.
A recent report by AMBCrypto highlighted that SOL was nearing the end of a six-month bear pennant in the higher time frame. The price would likely consolidate for the next four to six weeks.
Meanwhile, the range between $122 and $187 remained intact, with the lower limit yet to be breached. However, the pattern signaled that the price might head south to $110 after breaking it.
While SOL nears its current support, a rebound isn’t unlikely. Liquidation levels at $140 and $150 could drive prices higher in the short term, particularly if Bitcoin (BTC) begins its liquidity run soon.
Another analysis by AMBCrypto revealed a shorter-time-frame descending triangle, which could drive SOL to bullish or bearish targets at $112 and $155, respectively. Moreover, a decline to the $88 mark could attract substantial liquidity for a price increase.
Nonetheless, the historical cycle anticipates that SOL will trend higher. Moreover, a bullish divergence in the daily chart supported this outlook. Given Binance's upcoming launch of the Solana staking service, the coin can likely maintain a long-term bullish outlook.
It could enable buyers to retest and overcome the $161 zone. If the buying momentum persists, SOL could flip $187 and approach its peak chart barrier in the short-to-medium term. A breakout over the highest yearly resistance would indicate a strong uptrend.
Moreover, achieving the all-time high (ATH) would mark the next major milestone. However, the $250 mark may also present a significant obstacle to upward movement.
Our advanced predictive analytics indicate a modest rise in SOL’s value. These models suggest a continuous upward trajectory, predicting an average price close to $400 by 2030. The projections become more optimistic by 2035, with an expected average trading price of $800.
SOL's 2024 roadmap: Key indicators to watch and trade
The trading volume mirrored SOL’s price movements, significantly increasing during market rallies. However, the subsequent downturn led to decreased volume, signaling a more cautious approach among traders.
The Chaikin Money Flow (CMF) remained above the zero line for the entire year, albeit with a temporary drop in September 2024. It ended the period at 0.01, suggesting weak accumulation.
The Moving Average Convergence Divergence (MACD) and signal line started below the zero line, with the former leading from late September. Their ascent culminated in the lines turning positive in the second half of October.
However, by April, the MACD line declined, marking a bearish crossover later in the month. The latest values were the histogram at -5.74, the MACD line at 2.73, and the signal line at 8.46. This indicated a growing downward pressure.
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 2,979,816,449. Solana has gone down by -6.32% in the past 30 days.
According to our analysis in the short term, Solana price prediction for November 2024 shows the average price of SOL at 147.67 and the highest possible price for November 2024 would be $158.01.
Further, according to our analysis in the long term, Solana price prediction for March 2025 shows the average price of SOL at 155.60 and the highest possible price for March 2025 would be $166.50.
Solana price prediction 19 September 2024: Solana's price for 19 September 2024 according to our analysis should range between $121.38 to $139.66 and the average price of SOL should be around $130.52.
Solana price prediction 20 September 2024: Solana's price for 20 September 2024 according to our analysis should range between $121.97 to $140.33 and the average price of SOL should be around $131.15.
Solana price prediction 21 September 2024: Solana's price for 21 September 2024 according to our analysis should range between $122.48 to $140.92 and the average price of SOL should be around $131.70.
Solana price prediction 22 September 2024: Solana's price for 22 September 2024 according to our analysis should range between $123.07 to $141.60 and the average price of SOL should be around $132.34.
Solana price prediction 27 September 2024: Solana's price for 27 September 2024 according to our analysis should range between $125.85 to $144.79 and the average price of SOL should be around $135.32.
Solana price prediction 2 October 2024: Solana's price for 2 October 2024 according to our analysis should range between $128.63 to $147.99 and the average price of SOL should be around $138.31.
Solana price prediction 12 October 2024: Solana's price for 12 October 2024 according to our analysis should range between $134.22 to $154.43 and the average price of SOL should be around $144.32.
Solana price prediction November 2024: Solana's price for November 2024 according to our analysis should range between $137.34 to $158.01 and the average price of SOL should be around $147.67.
Solana price prediction December 2024: Solana's price for December 2024 according to our analysis should range between $138.99 to $159.91 and the average price of SOL should be around $149.45.
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 $134.66, with a market cap of $63,071,598,388 and trading volumes of $2,979,816,449. 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 $120.98 to $181.47 and the average price of SOL should be around $151.22.
Solana price prediction 2025: Solana's price for 2025 according to our analysis should range between $142.00 to $213.00 and the average price of SOL should be around $177.50.
Solana price prediction 2026: Solana's price for 2026 according to our analysis should range between $147.91 to $221.87 and the average price of SOL should be around $184.89.
Solana price prediction 2027: Solana's price for 2027 according to our analysis should range between $170.91 to $256.36 and the average price of SOL should be around $213.63.
Solana price prediction 2028: Solana's price for 2028 according to our analysis should range between $232.43 to $348.64 and the average price of SOL should be around $290.53.
Solana price prediction 2029: Solana's price for 2029 according to our analysis should range between $229.89 to $344.84 and the average price of SOL should be around $287.37.
Solana price prediction 2030: Solana's price for 2030 according to our analysis should range between $257.16 to $385.73 and the average price of SOL should be around $321.44.
Solana price prediction 2031: Solana's price for 2031 according to our analysis should range between $366.39 to $549.58 and the average price of SOL should be around $457.98.
Solana price prediction 2032: Solana's price for 2032 according to our analysis should range between $299.37 to $449.05 and the average price of SOL should be around $374.21.
Solana price prediction 2033: Solana's price for 2033 according to our analysis should range between $344.89 to $517.33 and the average price of SOL should be around $431.11.
Solana price prediction 2034: Solana's price for 2034 according to our analysis should range between $459.61 to $689.42 and the average price of SOL should be around $574.52.
Solana price prediction 2035: Solana's price for 2035 according to our analysis should range between $414.13 to $621.20 and the average price of SOL should be around $517.67.
