Solana Price Prediction: 2024, 2025, 2030

SOL price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly chart, the lowest support was at $18.
• $250 can be expected as the highest resistance.

2. Market sentiment

• The market is seen to be slightly bullish in July 2024.  

3. Predictive forecasts

• According to the AI/ML prediction algorithms, SOL can trade an average price of over $5,000 by 2028 and close to $1 million by 2035.

Get deep insights on SOL via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

SOL technical analysis: Is a new bull run ahead?

SOL distinguished itself in 2023 and garnered considerable attention from investors this year. There is widespread anticipation that SOL will continue to achieve new peaks, rendering predictions for Solana’s price in 2024 especially significant.

In July 2023, bulls made tentative recovery efforts from the annual low floor at $18. However, these attempts failed to gain traction, sending the asset plummeting back to this level by September. This unstable period paved the way for a significant reversal later in the month when SOL began its upward trajectory.

This momentum peaked with a robust pump in mid-December, pushing the price above $88. Subsequently, it challenged the $125 level but faced rejection due to market exhaustion from intense buying activity.

By the onset of 2024, SOL revisited the $88 mark. In January, the price briefly dipped below the pivotal $88 and $90 zones, only to regain strength as the month concluded. Consecutive bullish candles from late February propelled the coin to the peak resistance of $204 in mid-March.

Concurrently, it secured a foothold at $180. April witnessed a rejection after a prolonged standoff. A broader market downturn drove the price to $125. Nonetheless, repeated tests of $150 culminated in a breakout in mid-May.

A late-month attempt to reclaim $180 triggered sell-offs. In addition, a prominent presence of red candles erased the previous gains as $125 held off declines in mid-June. Since then, the price has remained range-bound between this base while eyeing $150 resistance. At the time of writing, SOL was trading at $140.

On the network front, AMBCrypto noted in Q2 2024 Solana demonstrated strong growth in the decentralized finance (DeFi) and non-fungible token (NFT) markets, with a 1000% increase in Total Value Locked (TVL) year-over-year (YoY) and substantial engagement in NFT trading. However, the start of Q3 saw a downturn, with significant decreases in daily active addresses and transactions on the Solana blockchain, which also affected the network’s fees and revenue.

AMBCrypto’s recent analysis revealed that the market exhibited a bearish bias on the daily timeframe but might maintain a long-term bullish outlook. This optimism could stem from expectations surrounding a potential SOL exchange-traded fund (ETF) and the opportunities that might arise following the next U.S. election. 

Given the market dynamics, the consolidation can likely last in the short term. Additionally, the defense of $125 and liquidity hunts suggested that an uptrend might succeed. Should Bitcoin (BTC) surpass the $60,000 mark in the upcoming weeks, it could inspire enough confidence in the bulls to push SOL’s price to above $150. 

This can help buyers retest the $180 zone. If the buying momentum persists, SOL could flip this level and approach its peak chart barrier in the short-to-medium term. Achieving the all-time high (ATH) would mark the next major milestone. 

However, the $250 mark may also present a significant obstacle to upward movement. Meanwhile, a close below the $125 support range can expose the coin to an extended downtrend.

Our advanced predictive analytics indicate a promising rise in SOL’s value. These models suggest a continuous upward trajectory, predicting an average price exceeding $5,000 by 2028.

The projections become increasingly optimistic by 2035. Solana is predicted to shatter major resistance levels, establishing a new valuation benchmark with an expected average trading price nearing $1 million.

SOL’s 2024 roadmap: Key indicators to watch and trade

• The trading volume mirrored SOL’s price movements, with significant increases during market rallies reflecting active investor engagement. However, the Q2 2024 downturn led to decreased volume, signaling a more cautious approach among traders.
• The Chaikin Money Flow (CMF) remained above the zero line for the entire year, ending the period at 0.19. This suggested continued accumulation.
• The Moving Average Convergence Divergence (MACD) and signal line started below the zero line, albeit on an upward trajectory, with the former leading. This culminated in the lines turning positive in the second half of October.
• However, by April, the MACD line declined, marking a bearish crossover later in the month. The latest values were histogram at -6.62, MACD line at 10.85, and signal line at 17.47. This indicated a weakening momentum, potentially reversing the bullish trend.