The bullish rally in the crypto market in recent days presents a huge window of opportunity for investors. Some currencies show impressive increases and others advance moderately. Among the first group, SOL stands out, Solana’s native token, which we will review in this technical analysis.
In this work we take a look at the technical factors that could determine the price of this currency in the short and medium term. In advance, we can highlight that the sentiment on the currency is eminently bullish. Is it possible for SOL to reach $500 and when? The short answer is yes. If you want to know when, we invite you to continue reading.
A review of Solana’s technical analysis
This work focuses exclusively on technical analysis. This means that it does not take into account fundamental contextual factors that generally interfere with the development of prices.
According to the CoinCodex portal, 30 technical indicators were applied to this token. Of these, 28 show a bullish path and only 2 point in the direction of the bears. For its part, the fear and greed index marks 69/100, which means that there is enormous greed. Meanwhile, of the last 30 days the currency spent 18 with positive returns. Thus, the chances of obtaining positive returns are 60%.
Year-on-year price performance of Solana (SOL). Source: CoinMarketCap
In this way, Solana (SOL) technical analysis indicators such as the SMA of 50 in the short term mark between flat and bullish for December. The RSI, for its part, is in overbought territory, with a score of 70.91. It should be noted that scores of 70 or more translate into overbought, while scores of 30 or less suggest oversold.
Another piece of data of interest has to do with the market sentiment index regarding Solana (SOL). This is overwhelmingly positive, with 93% expecting bullishness and 7% expecting a pullback for the token.
Market sentiment index regarding SOL. Source: CoinCodex
SOL Price Prediction
With this data in perspective, we move on to answer the second part of the question: when will SOL reach $500? Before finding the answer, it should be noted that this prediction is based on technical analysis, that is, historical data. That means any unexpected news event can completely invalidate these predictions.
Within a week, the technical analysis of Solana (SOL) does not expect major changes from the current price. Thus, until next November 16, the coin would have a price of $199. In that period, its potential ROI is +0.61%. In one month, the token would reach $225.
SOL price projection in one month is $225. Source: CoinCodex
However, in a longer time, particularly by July 2025, the price would reach $500 per coin. The jump would begin in March and April, when the price goes from $223 to $432 dollars.
SOL price prediction for 2025. Source: CoinCodex
Data to take into consideration
- The predictions of this work are exclusive to the CoinCodex portal and not CriptoTendencia. Performance and price data were taken from CoinMarketCap and Messari.
- Predictions on the Solana token (SOL) are based on technical analysis, that is, historical data. Thus, these could change in the event of unforeseen news.
- SOL is the native token of the Solana Blockchain. It is one of the fastest and most efficient networks in the entire Cryptocurrency world. His rise in 2023 and 2024 has been shocking.
Disclaimer: This prediction is based on historical trends and technical analysis. Cryptocurrency prices are highly volatile and can be affected by external factors. Investors should do their own research before making investment decisions.
Do you want to always be updated in the world of cryptocurrencies? Subscribe now to the CriptoTendencia WhatsApp channel! Here you will instantly receive the most relevant information about Bitcoin, Altcoins, DeFi, NFTs, Blockchain and the Metaverse.
Related
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
