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Solana Price Prediction 2024-2030: Is SOL a Good Investment?

Key takeaways

  • Solana’s (SOL) recent movements indicate a delicate balance between the bulls and bears.
  • SOL could reach $500 by the end of 2024.
  • Solana’s price could surpass the $1,000 mark or higher by 2030.

Despite occasional challenges, including network congestion and competition from other blockchain platforms, Solana demonstrates resilience and adaptability, positioning itself as a leading player in the decentralized finance (DeFi) and Web3 landscape.

Overall, the prevailing sentiment within the Solana community is one of confidence and excitement, with stakeholders eagerly anticipating the platform’s continued evolution and impact on the broader crypto ecosystem. While uncertainties persist, Solana’s innovative approach and robust infrastructure instill optimism for its future price trajectory and market dominance. How high can SOL go in 2024 and beyond? Let’s find out.

Overview

CryptocurrencySolana
TokenSOL
Price$146.93 
Market Cap$76,344,729,505
Trading Volume 24-h$3,051,626,600
Circulating Supply449,514,177 SOL
All-time High$260.06, Nov 07, 2021
All-time Low$0.5052, May 12, 2020
24 High$171.99
24 Low$164.97

Solana Price Prediction: Technical Analysis

MetricValue
Volatility+0.61%
SentimentNeutral
50-Day SMA$153.62
200-Day SMA$119.18
Price Prediction$364.44 (117.90%)
F & G Index20.73 (extreme fear)
Green Days13/30 (44%)
14-Day RSI62.11

Solana Price Analysis

Solana price analysis shows a return to the $175.00 level as the bulls failed to maintain a support level above the $185.00 mark. Currently, the price finds short-term support but the rising bearish pressure suggests further downwards movement.

The broader cryptocurrency market observed bullish sentiment over the last 24 hours as most major cryptocurrencies recorded positive price movements. Major players include LINK and RUNE, recording a 7.2 and a 6.8 percent incline, respectively.

Solana price analysis: SOL falls back to $175 as bears crush $180 support

Technical indicators for SOL/USDT by Tradingview

The MACD is currently bearish, as indicated by the red color of the histogram. Moreover, the indicator shows strong bearish momentum, observed in the depth of the histogram bars. On the other hand, the lighter shades of red suggest decreasing bearish pressure and potential for bullish momentum as the price action experiences increased volatility on the short-term charts.

The Relative Strength Index (RSI) for SOL/USDT is currently around 47.43, indicating a neutral position, but still slightly favoring the bears. There is room for downward movement before the market would require a correction.

The Bollinger Bands are wide at the time of writing to reflect the rising volatility. Moreover, it is expected the bands will continue to remain wide as the price volatility remains high. Currently, the bands’ lower limit provides support at the $165.00 mark, while the upper limit presents a resistance at $183.92.

Solana Technical Indicators: Levels And Action

Daily Simple Moving Average (SMA)

NameValueAction
SMA (10)$172.96SELL
SMA (20)$160.76BUY
SMA (30)$154.04BUY
SMA (50)$153.62BUY
SMA (100)$153.74BUY
SMA (200)$119.18BUY

Daily Exponential Moving Average (EMA)

NameValueAction
EMA (10)$168.28SELL
EMA (20)$163.37BUY
EMA (30)$160.48BUY
EMA (50)$157.42BUY
EMA (100)$147.25BUY
EMA (200)$125.14BUY

Solana price analysis: Bearish momentum rises across 4-hour charts

The 4-hour Solana price analysis chart shows a small dip in the price, which was quickly bought up by investors. This minor correction was followed by another bullish candlestick, indicating that the bulls are still in control and any dips are being seen as buying opportunities. The support level around $162 has proven to be strong during this dip, and it is likely to continue holding if there are further corrections in the near future.

4-hour price chart by Tradingview

Solana price analysis shows that the SOL price faced resistance around the $185-$190 level, causing a pullback to the $160 mark before finding a foothold. Since then, the price has made a steady recovery to the $175 mark before being rejected at that level.

Traders should expect Solana to continue its attempt to recover towards the $185-$190 mark. However, the price is likely to stay within the $160-$175 range for the next few days as the bulls face corrections and work to regenerate momentum. Movement below $160 may mean a drop to the $150 mark, but further downward movement is unlikely given the current market sentiment.

Is SOL A Good Investment?

The Solana price analysis shows a clear bullish sentiment in the market as the price continues to move upward. The support level at $168 has proven to be strong, and any corrections are being quickly bought up by investors. The technical indicators also support this bullish momentum and suggest that the price may soon break through its current resistance level and reach new highs in the near future.

Recent News/Updates on Solana

Solana introduces marginfi, an MEV-optimised liquidity layer poised to protect users against inflation and stimulate the expansion of its stableswap liquidity and flash loan features.

Solana Price Predictions May 2024

YearMinimum Price($)Average Price($)Maximum Price ($)
2024120.85152.87190.64

A bearish start to the month of May 2024 saw SOL dipping from a high of $202 in April to $120 in the first few days. However, the market soon recovered pushing SOL towards $180. Based on expert analysis, Solana (SOL) could reach $190.64 by the end of May.

Solana Price Predictions 2024

YearMinimum Price ($)Average Price ($)Maximum Price ($)
2024129.65314.23322.21

At the beginning of 2024, there was a recovery in the price of cryptocurrencies, but recent events have shown that bears are now in control of price dynamics, slowing growth. Solana (SOL), which has seen its value fall by 3.16% today, has also been affected by this trend. Experts expect that SOL might reach a maximum price of $322.21, an average price of $314.23 and a minimum price of $129.65.

Solana (SOL) Price Prediction 2025-2030

YearMinimum Price ($)Average Price ($)Maximum Price ($)
2025315.20340.21377.09
2026432.41504.36521.05
2027564.35635.87667.75
2028682.54700.21732.48
2029696.38766.43804.12
2030989.321079.401098.94

Solana Price Prediction 2025

Solana price is predicted to reach a lowest possible level of $315.20 in 2025. Experts suggest that the coin’s price could reach a maximum value of $377.09 and an average price of $340.21.

Solana Price Prediction 2026

In 2026 the price of Solana is forecasted to be at around a minimum value of $432.41. Solana’s price can reach a maximum of $521.05 and an average trading value of $504.36.

Solana Price Prediction 2027

If the bullish run from the previous years carry on to 2027, SOL can reach a minimum price of $564.35, a maximum price of around $667.75. On average, the trading price might be $635.87

Solana Price Prediction 2028

An analysis of the historical performance of SOL shows that the coin could attain new highs in 2028, reaching a maximum price of $732.48, a minimum of $682.54, and an average trading price of $700.21.

Solana (SOL) Price Prediction 2029

Based on the analysis of Solana by crypto experts, the following maximum and minimum SOL prices are expected in 2029: $804.12 and $696.38. On average, SOL could trade at $766.43.

Solana Price Prediction 2030

Solana price is projected to reach a minimum price of $989.32 in 2030. Expert findings suggest that SOL’s price could reach a maximum of $1,098.94 and an average forecast price of $1,079.40.

Solana Price Prediction by Experts

Firm20242025
Gov.Capital$206.33$257.52
DigitalCoinPrice$386.56$418.52

Cryptopolitan’s Solana (SOL) Price Prediction

At Cryptopolitan, we are bullish on Solana’s future price as the market sentiment is extremely impressive. By the end of 2024, Solana might record a maximum price of $322.21, with a minimum price of $129.65 and an average price of $314.23.

We expect Solana price to attain a maximum price of $322.21 by the end of 2024

Solana (SOL) Historic Price Sentiment

  • Solana was launched in April 2020 and has gained popularity over the last 18 months. The price of Solana has surged from $0.75 to a high of $214.96 in early September.
  • Following NFT hype and growing demand in the DeFi community, the price of cryptocurrency Solana or SOL more than tripled during the summer of 2021. Solana (SOL) token became the fastest-growing cryptocurrency and is currently ranked at position five with a live market cap of nearly $66 billion.
  • 2022 saw Solana leap to its all time high of $260, but SOL failed to close the year anywhere near as the price came crashing down to below $40 by June. The bearish markets were marked by high skepticism as trading volumes declined throughout the crypto markets.
  • The price continued to trade below the $40 level until November 2023, when Solana gained momentum and started a bullish rally once again to close the year at $101.84.
  • It has overtaken the likes of the once-popular Dogecoin, DAI, DASH, Polkadot, VeChain, Eos, and many others. It is closely behind Binance Coin (BNB) and Tether (USDT).
  • In 2024, Solana has become the go-to platform for many De-Fi applications including decentralized exchanges, NFTs and more. The success has been visible in the SOL price which has risen from lows of $83.62 in January to the recent highs of $202.87

FAQs

Is Solana a good investment?

Yes. Solana is a good long-term investment.

What is the utility of the SOL token?

Sol tokens are used as governance tokens for voting, staked for delegation, and to pay for processing fees.

Where can I buy SOL?

You can buy Solana on Binance, Coinbase, Bitfinex, KuCoin, and Kraken.

Is there a risk to staking Solana?

Yes, staked Solana can be slashed if a node operates maliciously.

Can the Solana price crash?

The price of Solana cryptocurrency crashed at the beginning of September 2021 due to a network outage, something that is extremely rare and most likely will never happen again in the future. 

Is Solana a scam or legit?

Solana is a legit blockchain network, just like other blockchains like Ethereum. As a result, the native token, the Solana coin, which is commonly referred to as SOL coin, is a legit cryptocurrency.

Where do I safely store SOL?

Once you purchase SOL coins, you should store them in a secure place. Most of the exchanges where you can buy SOL offer in-built crypto exchange wallets. Other wallets that allow storage of SOL coins include the atomic wallet and Ledger hardware wallet.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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