In a remarkable turn of events, Solana (SOL) has successfully overtaken Binance Coin (BNB) to claim the fourth position in the cryptocurrency market. This large-cap altcoin has witnessed an impressive surge of over 50% in the past two weeks, reaching approximately $242 during the early European market on Monday, November 18. This surge has propelled Solana’s market capitalization to join the esteemed ranks of Ethereum (ETH) and Bitcoin (BTC), surpassing the $100 billion mark. As of this writing, Solana boasts a market cap of about $115 billion, with a daily average traded volume around $11 billion.
With Solana surging 50% and eyeing a new ATH, find out if it can reach $280 next—read the latest Solana price prediction now!
Solana Price Aims for $280 Next
The price of Solana recently emerged from a prolonged period of consolidation that began in March of this year. Following its impressive performance over the past three weeks, Solana is now approximately 6.5% away from retesting its all-time high of around $259, which was achieved in November 2021. From a technical perspective, Solana is targeting the next liquidity range between $280 and $327, aligning with the 2.618 and 3.618 daily Fibonacci Extension levels. Additionally, the weekly Relative Strength Index (RSI) is on the verge of rallying above the 70 mark for the first time since April.
However, there is a possibility that Solana’s price may retest the support level around $181 before making a push towards a new all-time high. The crypto market’s inherent volatility, especially given the notable liquidation of leveraged traders, has set the stage for potential price fakeouts.
Robust Fundamentals
The recent bullish breakout of Solana is underpinned by increasing on-chain activities, particularly driven by FOMO (Fear of Missing Out) traders, especially in the meme coin sector. For instance, Solana’s weekly DEX trading volume has outstripped Ethereum and all its Layer 2s combined for the first time. So far in November, Solana’s DEX volume has surged to over $63 billion, establishing a new all-time high.
This surge in activity within the Solana ecosystem is further bolstered by the growing mainstream adoption of web3 projects and digital assets by institutional investors. The expansion of Solana’s ecosystem continues to attract significant attention and investment, positioning it as a formidable player in the blockchain space.
FAQs
How Much Is Solana Worth Today?
As of today, Solana (SOL) is trading at approximately $42.52, reflecting a positive movement in the market.
How Much Will Solana Be Worth in 2025?
Based on Solana price predictions, SOL could reach up to $750 by the end of 2025, with a potential surge pushing it as high as $1,672 by 2030.
Is SOL a Buy Right Now?
Solana (SOL) holds a Strong Buy rating across various technical indicators, with an RSI of 75.54 indicating strong bullish momentum. With positive MACD and robust market activity, SOL appears to be a solid buy at present.
