In a significant market move, Solana (SOL) has ascended to a prominent position by overtaking Binance Coin (BNB) last week. The large-cap altcoin has experienced a commendable rise of over 50% in the last two weeks, reaching approximately $242 on Monday, November 18, during the early European trading session.
As Solana’s market cap has expanded, it now stands alongside Ethereum (ETH) and Bitcoin (BTC) with a valuation exceeding $100 billion. As of the latest data, Solana boasts a market cap of about $115 billion and maintains a daily average trading volume of around $11 billion.
With Solana surging 50% and aiming for a new all-time high, explore whether it can hit $280 next—dive into the latest Solana price prediction now!
Solana Price Aims for $280 Next
Recently, Solana’s price broke free from a prolonged consolidation phase that began in March this year. After an impressive performance over the last three weeks, Solana is just 6.5% shy of retesting its all-time high of approximately $259, a record set in November 2021.
Analyzing the technical indicators, Solana is now targeting the next liquidity range between $280 and $327, aligning with the 2.618 and 3.618 daily Fibonacci Extension levels. Furthermore, the weekly Relative Strength Index (RSI) is poised to surpass the 70 mark for the first time since April this year, signaling potential bullish momentum.
Nevertheless, Solana may revisit the support level around $181 before advancing towards a new all-time high. The increased crypto market volatility, exacerbated by major liquidations of leveraged positions, has created conditions ripe for potential price fakeouts.
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Robust Fundamentals
The recent bullish breakout of Solana is underpinned by growing on-chain activities, driven by FOMO traders, particularly in the meme coin sector. Notably, Solana’s weekly DEX trading volume has outpaced Ethereum and its combined Layer 2 solutions for the first time. In November alone, Solana’s DEX volume has soared beyond $63 billion, setting a new all-time high.
The Solana ecosystem has greatly benefited from the ongoing mainstream adoption of web3 projects and digital assets by institutional investors. This influx of interest has bolstered Solana’s position in the crypto market, enhancing its appeal to a broader audience.
FAQs
How Much Is Solana Worth Today?
As of today, Solana (SOL) is trading at approximately $42.52, reflecting a positive trajectory in the market.
How Much Will Solana Be Worth in 2025?
According to various Solana price predictions, SOL could potentially reach up to $750 by the end of 2025, with a possibility of surging as high as $1,672 by 2030.
Is SOL a Buy Right Now?
Solana (SOL) holds a Strong Buy rating across Technical, Moving Averages, and Oscillators categories. With an RSI of 75.54 indicating strong bullish momentum, coupled with a positive MACD and robust market activity, SOL appears to be a promising buy at the moment.
