Advertise
Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Nov 18, 2024 06:53 UTC
-
Can Solana (SOL) Price Reach a New All-Time High in the Next 12 Hours?
Solana (SOL) has surged over 50% in the past two weeks, reaching a market cap of over $115 billion.
The cryptocurrency is poised for further growth, with a potential target of $280 and a possible retest of its all-time high.
Strong on-chain activity and increased institutional interest are driving Solana's upward momentum.
After overtaking Binance Coin (BNB) for the fourth spot last week, Solana (SOL) is making waves in the crypto market. With a remarkable 50% surge over the past two weeks, the altcoin is now eyeing new heights. Trading at around $242 as of Monday, November 18, during early European market hours, Solana is on the verge of a potential rally to price discovery.
Solana’s recent price rally has pushed its market cap past the $100 billion mark, putting it in the same league as Ethereum (ETH) and Bitcoin (BTC). As of now, Solana’s market cap is approximately $115 billion, with a daily average trading volume of around $11 billion.
But the big question is—will it reach a new all-time high? Keep reading to find out what’s driving this explosive growth and where Solana could be headed next.
With Solana surging 50% and eyeing a new ATH, find out if it can reach $280 next—read the latest Solana price prediction now!
Solana Price Aims for $280 Next
Solana recently broke free from a long period of price consolidation that started in March this year. After a strong three-week performance, the price is now just 6.5% away from retesting its all-time high of around $259, set in November 2021.
Technically, Solana is now targeting the next key price range between $280 and $327. This range lines up with the 2.618 and 3.618 Fibonacci extensions, suggesting strong upside potential. Additionally, the weekly Relative Strength Index (RSI) is close to breaking above 70 for the first time since April, indicating a potential rally.
Key Levels to Watch
While Solana’s bullish trend remains strong, a temporary pullback to the support level around $181 is possible before the next rally. Increased volatility in the crypto market, driven by significant liquidations of leveraged traders, could lead to short-term price swings or fakeouts.
What’s Fueling the Rise?
The recent Solana bullish breakout is bolstered by the rising on-chain activities, fueled by the FOMO traders, especially in the meme coin space. For instance, Solana’s weekly DEX trading volume surpassed Ethereum, and all its Layer 2s combined for the first time. So far in November, Solana’s DEX volume has surged to over $63 billion, thus setting a new ATH.
The Solana ecosystem has significantly benefited from the ongoing mainstream adoption of web3 projects and digital assets by institutional investors.
FAQs
According to Solana price predictions, SOL could reach up to $750 by the end of 2025, with a potential surge pushing it as high as $1,672 by 2030
Solana (SOL) has a Strong Buy rating across Tech, MA, and Os categories, with an RSI of 75.54 indicating strong bullish momentum. With positive MACD and strong market activity, SOL appears to be a solid buy right now.
Yes 
No 
