- Bullish SOL price prediction for 2023 is $58.84 to $88.51.
- Solana (SOL) price might reach $100 soon.
- Bearish (SOL) price prediction for 2023 is $25.45.
In this Solana (SOL) price prediction 2023, 2024-2030, we will analyze the price patterns of SOL by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
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TABLE OF CONTENTS |
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INTRODUCTION |
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SOLANA (SOL) PRICE PREDICTION 2023 |
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| SOLANA (SOL) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Solana (SOL) Current Market Status
| Current Price | $62.79 | 24 – Hour Price Change | 17.55% Up |
| 24 – Hour Trading Volume | $3,725,989,459 |
| Market Cap | $26,525,898,655 |
| Circulating Supply | 422,423,391 SOL | All – Time High | $260.06 (On Nov 07, 2021) |
| All – Time Low | $0.5052 (On May 11, 2020) |
What is Solana (SOL)
| TICKER | SOL |
| BLOCKCHAIN | Solana |
| CATEGORY | Ethereum Scaling Solution |
| LAUNCHED ON | March 2020 |
| UTILITIES | Governance, security, gas fees & rewards |
Solana (SOL), a cryptocurrency coin, operates on its own scalable blockchain, enabling faster transaction speeds, and was introduced in March 2020. By combining proof-of-history (PoH) and proof-of-stake (PoS) consensus mechanisms, Solana enhances scalability and facilitates the creation of decentralized applications (DApps). In addition, With its hybrid model, Solana can validate blocks efficiently and provide accurate timestamps.
Further, Solana has also made significant strides in revolutionizing the NFT marketplace. Solana-based NFTs are gaining traction and are increasingly becoming a preferred choice over Ethereum-based NFTs.
Solana 24H Technicals
(Source: TradingView)
Solana (SOL) Price Prediction 2023
Solana (SOL) ranks 6th on CoinMarketCap in terms of its market capitalization. The overview of the Solana price prediction for 2023 is explained below with a daily time frame.
SOL/USDT Descending Channel Pattern (Source: TradingView)
In the above chart, Solana (SOL) laid out a descending channel pattern. Descending channel patterns are short-term bearish in that a stock moves lower within a descending channel, but they often form longer-term uptrends as continuation patterns. The descending channel pattern is often followed by higher prices. but only after an upside penetration of the upper trend line. A descending channel is drawn by connecting the lower highs and lower lows of a security’s price with parallel trendlines to show a downward trend.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Solana (SOL) was recorded at $62.79. If the pattern trend continues, then the price of SOL might reach the resistance level of $57.62, and $129.60. If the trend reverses, then the price of SOL may fall to the support of $32.54, $17.47 & $12.77.
Solana (SOL) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Solana (SOL) in 2023.
SOL/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Solana (SOL) for 2023.
| Resistance Level 1 | $58.84 |
| Resistance Level 2 | $88.51 |
| Support Level 1 | $39.01 |
| Support Level 2 | $25.45 |
SOL Resistance & Support Levels
Solana (SOL) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Solana (SOL) are shown in the chart below.
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SOL/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Solana (SOL) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $53.67Price = $57.07 (50MA < Price) |
Bullish / Uptrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 54.25 <30 = Oversold 50-70 = Neutral>70 = Overbought |
Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Solana (SOL) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Solana (SOL) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
SOL/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Solana (SOL).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 85.90 | Strong Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 57.51
<50 = Low |
High volatility |
Comparison of SOL with BTC, ETH
Let us now compare the price movements of Solana (SOL) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs SOL Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of SOL is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of SOL also increases or decreases respectively.
Solana (SOL) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Solana (SOL) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Solana (SOL) Price Prediction 2024 | $105 | $20 |
| Solana (SOL) Price Prediction 2025 | $110 | $30 |
| Solana (SOL) Price Prediction 2026 | $115 | $40 |
| Solana (SOL) Price Prediction 2027 | $120 | $50 |
| Solana (SOL) Price Prediction 2028 | $130 | $60 |
| Solana (SOL) Price Prediction 2029 | $140 | $70 |
| Solana (SOL) Price Prediction 2030 | $150 | $80 |
Conclusion
If Solana (SOL) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Solana (SOL) price prediction for 2023 is $88.51. Comparatively, if unfavorable sentiment is triggered, the bearish Solana (SOL) price prediction for 2023 is $25.45.
If the market momentum and investors’ sentiment positively elevates, then Solana (SOL) might hit $100. Furthermore, with future upgrades and advancements in the Solana ecosystem, SOL might surpass its current all-time high (ATH) of $260.06 and mark its new ATH.
FAQ
1. What is Solana (SOL)?
Solana (SOL) is the native crypto coin of Solana. Solana runs on a scalable blockchain that runs with a hybrid consensus model that integrates proof-of-stake (PoS) and proof-of-history (PoH). SOL was launched in March 2020.
2. Where can you purchase Solana (SOL)?
Solana (SOL) has been listed on many crypto exchanges which include Binance, CoinbaseExchange, KuCoin, Bitfinex and OKX.
3. Will Solana (SOL) reach a new ATH soon?
With the ongoing developments and upgrades within the Solana Platform, SOL has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Solana (SOL)?
On November 06, 2021, SOL reached its new all-time high (ATH) of $260.06.
5. What is the lowest price of Solana (SOL)?
According to CoinMarketCap, SOL hit its all-time low (ATL) of $0.5052 on May 11, 2020.
6. Will Solana (SOL) reach $100?
If Solana (SOL) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $100 soon.
7. What will be Solana (SOL) price by 2024?
Solana (SOL) price is expected to reach $105 by 2024.
8. What will be Solana (SOL) price by 2025?
Solana (SOL) price is expected to reach $110 by 2025.
9. What will be Solana (SOL) price by 2026?
Solana (SOL) price is expected to reach $115 by 2026.
10. What will be Solana (SOL) price by 2027?
Solana (SOL) price is expected to reach $120 by 2027.
Top Crypto Predictions
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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- Source: https://thenewscrypto.com/solana-sol-price-prediction/
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