- Bullish SOL price prediction is $15.06 to $49.18.
- Solana (SOL) price might also reach $25 soon.
- Bearish SOL price prediction for 2023 is $9.45.
In Solana (SOL) price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about SOL to analyze the future movement of the cryptocurrency.
Solana (SOL) Current Market Status
|24 – hour trading volume||$1,479,231,899|
|24 – hour price change||0.65% Up|
|All – Time High||$259.96 (On November 06,2021)|
What is Solana (SOL)?
The crypto coin, Solana (SOL), runs on an independent and scalable blockchain with faster transaction rates. The blockchain’s functionality is based on a hybrid consensus model that combines proof-of-stake (PoS) and proof-of-history (PoH). This hybrid model enables Solana to validate its blocks faster with accurate time stamps. Solana (SOL) was launched in March 2020.
Solana Network aims to expand its functionalities by hosting several DApps in the DeFi and also revolutionize the NFT marketplace. Solana-based NFTs are gaining positive momentum and are more likely to be preferred over Ethereum NFTs.
Solana (SOL) Price Prediction 2023
Solana (SOL) holds the 11th position on CoinGecko right now. SOL price prediction 2023 is explained below with a daily time frame.
The above chart of Solana (SOL) laid out the descending right angle broadening pattern. A Descending Right Angle Broadening is a bullish reversal pattern. The pattern is formed by two diverging lines, with the resistance being a horizontal line and the support being a bearish downward slant, forming an inverted ascending triangle.
Currently, Solana (SOL) is in the range of $13.15. If the pattern continues, the price of SOL might reach the resistance levels of $15.06 and $23.83. If the trend reverses, then the price of SOL may fall to $9.45.
Solana (SOL) Support and Resistance Levels
The chart below shows the support and resistance levels of Solana (SOL).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Solana (SOL).
|Resistance Level 1||$15.27|
|Resistance Level 2||$25.60|
|Resistance Level 3||$49.18|
|Support Level 1||$9.49|
The charts show that Solana (SOL) has performed a bullish trend over the past month. If this trend continues, SOL might run along with the bulls overtaking its resistance level at $49.18.
Accordingly, if the investors turn against crypto, the price of Solana (SOL) might plummet to almost $9.49, a bearish signal.
Solana (SOL) Price Prediction 2023 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Solana (SOL) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of SOL lies below the cutoff line, indicating weak participants in the current trend.
Also, the Moving Average (MA) of Solana (SOL) is shown in the chart above. Notably, Solana (SOL) price lies in the 50 MA (short-term), so it is on an upward trend. Currently, SOL has entered a bullish state. Therefore, there is a possibility of a reversal trend of SOL at any time.
Meanwhile, the relative strength index (RSI) of the SOL is 58.23. This means that Solana (SOL) is in neither overbought nor oversold state. However, this means a major price reversal of SOL may occur in the upcoming days. So, traders need to trade carefully.
Solana (SOL) Price Prediction 2023 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Solana (SOL). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Solana (SOL). Currently, the ADX of SOL lies in the range of 38.90 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Solana (SOL). RVI measures the constant deviation of price changes over a period of time. The RVI of SOL lies above 50, indicating high volatility. In fact, the RSI of Solana (SOL) is at 58.23 thus confirming a potential buy signal.
Comparison of SOL with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum, and Solana (SOL).
From the above chart, we can interpret that the price actions SOL is a similar trend with respect to BTC and ETH. This indicates that when the price of BTC and ETH increases, the price of SOL increases. And when the price of BTC and ETH decreases, the price of SOL decreases.
Solana (SOL) Price Prediction 2024-2030
Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Solana (SOL) between 2024 and 2030.
Solana (SOL) Price Prediction 2024
If the declining price action completely slows down in momentum and the trend reverses, Solana (SOL) might probably attain $55 by 2024.
Solana (SOL) Price Prediction 2025
With several upgrades in the network, Solana (SOL) might enter a bullish trajectory. If the coin grabs the attention of major investors, SOL might rally to hit $60 by 2025.
Solana (SOL) Price Prediction 2026
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, SOL would rally to hit $65.
Solana (SOL) Price Prediction 2027
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, SOL would rally to hit $70.
Solana (SOL) Price Prediction 2028
If Solana (SOL) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, SOL would rally to hit $75.
Solana (SOL) Price Prediction 2029
Solana (SOL) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, SOL would hit $80 in 2029.
Solana (SOL) Price Prediction 2030
If investors flock in and continue to place their bets on Solana (SOL), it would witness major spikes. SOL might hit $85 by 2030.
With continuous improvements in the Solana network, we can say that 2023 is a good year for SOL. For this reason, the bullish price prediction of Solana (SOL) in 2023 is $49.18. On the other hand, the bearish price prediction of Solana (SOL) for 2023 is $9.45.
Furthermore, with the advancements and upgrades to the Solana ecosystem, the performance of SOL would help to reach above its current all-time high (ATH) of $2.59 very soon. But, it might also reach $10 if the investors believe that SOL is a good investment in 2023.
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.
Solana (SOL) has been listed on many crypto exchanges which include Binance, Bitfinex, Kucoin, Kraken, and Coinbase Exchange.
With the ongoing developments and upgrades within the Solana Platform, SOL has a high possibility of reaching its ATH soon.
On November 06, 2021, SOL reached its new all-time high (ATH) of $259.96.
Solana (SOL) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Solana in the past few months, SOL is considered a good investment in 2023.
Solana (SOL) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues the Solana (SOL) will hit $25 soon
Solana (SOL) price is expected to reach $45 by 2024.
Solana (SOL) price is expected to reach $55 by 2025.
Solana (SOL) price is expected to reach $65 by 2026.
Solana (SOL) price is expected to reach $75 by 2027.
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.