After successfully overtaking Binance Coin (BNB) for the fourth spot last week, Solana (SOL) is gearing up for an eagerly anticipated rally to new price levels. Over the past two weeks, this prominent altcoin has experienced a remarkable surge of over 50%, reaching approximately $242 on Monday, November 18, during the early European trading session. As a result, Solana’s market capitalization has joined the ranks of Ethereum (ETH) and Bitcoin (BTC), surpassing the $100 billion mark. At the time of writing, Solana boasts a market cap of about $115 billion and a daily average trading volume of 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
Recently, Solana’s price broke out of a prolonged consolidation phase that commenced in March this year. Following an exceptional performance over the past three weeks, Solana’s price is now approximately 6.5% away from retesting its all-time high of around $259, which was established in November 2021. From a technical perspective, Solana is setting its sights on 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 on the brink of surpassing the 70 mark for the first time since April this year.
However, there remains a possibility that Solana’s price could revisit the support level around $181 before embarking on a rally toward a new all-time high. The heightened crypto market volatility, spurred by significant liquidation of leveraged positions, has created an environment ripe for extreme fluctuations and false breakouts.
Robust Fundamentals
The recent bullish breakout for Solana is underpinned by a surge in on-chain activities, largely driven by FOMO (Fear of Missing Out) traders, especially within the meme coin sector. Notably, Solana’s weekly decentralized exchange (DEX) trading volume surpassed that of Ethereum and all its Layer 2 solutions combined for the first time. In November alone, Solana’s DEX volume skyrocketed to over $63 billion, establishing a new ATH. The Solana ecosystem has significantly benefited from the widespread adoption of web3 projects and digital assets by institutional investors.
FAQs
How Much Is Solana Worth Today?
As of today, Solana (SOL) is trading at approximately $242.39, reflecting a positive movement in the market.
How Much Will Solana Be Worth in 2025?
According to 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) has a Strong Buy rating across Tech, MA, and Os categories, accompanied by an RSI of 75.54, indicating strong bullish momentum. With a positive MACD and robust market activity, SOL appears to be a solid buy right now.
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