Solana (SOL) showcases impressive growth, reaching market capitalization over $100 billion. The altcoin inches closer to a new price peak.
Solana's Price Aspiration to $280
Solana's price recently broke out of a multi-month consolidation beginning in March. With over 50% growth in the last two weeks, Solana is just 6.5% away from its all-time high of $259, which was set in November 2021. Technical analysis shows SOL aiming for the liquidity range between $280 and $327, which coincides with the 2.618 and 3.618 Fibonacci Extension on the daily charts. The price may retest the support level around $181 before reaching new heights.
Robust Fundamentals
The recent bullish breakout of Solana is strengthened by rising on-chain activities. Solana's weekly DEX trading volume outperformed Ethereum and its Layer 2 chains. In November, Solana's DEX volume hit over $63 billion. The Solana ecosystem benefits significantly from the growing adoption of web3 projects and digital assets by institutional investors.
FAQs
As of today, Solana (SOL) trades at approximately $42.52. Solana price predictions estimate it could reach up to $750 by the end of 2025 and as high as $1,672 by 2030. With an RSI of 75.54, indicating strong bullish momentum, SOL appears as a solid investment choice.
Solana continues to astonish analysts with its rapid growth and stable market position. Investor confidence is bolstered by robust fundamentals and active development.
