Solana (SOL) Price Prediction 2023 — Will SOL Hit $25 Soon?

  • 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

Current Price $23.38
24 – hour trading volume $1,479,231,899
24 – hour price change 0.65% Up
Circulating supply 370,761,547
All – Time High $259.96 (On November 06,2021) 
SOL Current Market Status (source: CoinGecko)

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.

   SOL /USDT Descending Right Angle Broadening Channel Pattern (Source: Tradingview)

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).

SOL /USDT Support and Resistance Levels (Source: Tradingview)

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
SOL Resistance & Support Level

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.

SOL /USDT RVOL, MA, RSI (Source: Tradingview)

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.

SOL/USDT ADX, RVI (Source: TradingView)

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).

BTC Vs ETH Vs SOL Price Comparison (Source: TradingView)

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.

Conclusion

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.

FAQ

1. What is Solana (SOL)?

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.

2. Where can you purchase Solana (SOL)?

Solana  (SOL)  has been listed on many crypto exchanges which include Binance, Bitfinex, Kucoin, Kraken, and Coinbase Exchange.

3. Will Solana (SOL) reach a new ATH soon?

With the ongoing developments and upgrades within the Solana Platform, SOL has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Solana (SOL)?

On November 06, 2021, SOL reached its new all-time high (ATH) of $259.96.

5. Is Solana (SOL)  a good investment in 2023?

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.

6. Can Solana (SOL) reach $25?

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

7. What will be Solana (SOL) price by 2024?

Solana (SOL) price is expected to reach $45 by 2024.

8. What will be Solana (SOL)  price by 2025?

Solana  (SOL)  price is expected to reach $55 by 2025.

9. What will be Solana (SOL)  price by 2026?

Solana (SOL) price is expected to reach $65 by 2026.

10. What will be Solana (SOL) price by 2027?

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.

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.