Price Analysis View Non-AMP

Solana Price Analysis: Will SOL Price Hit $50 Soon?

Published by
Elena R

The crypto market experienced another price jump following the recent FOMC meeting, where the FED rates were kept steady between 5.25% – 5.50%. Bitcoin price breaks out of its important resistance level at $35,000, indicating a possibility of strong bullish price action in the coming days.

Following the news of FTX unstaking Solana tokens worth $67 Million, the price took a significant jump in its value. Further, growing investor’s interest and confidence in its potential for reshaping the future of decentralized applications and blockchain technology has brought back stability in its price action. The SOL price has added over 32% in value within the past week.

The Solana price was seen trading in a closed range between $22 and $24.25 for a brief period, following which the market gained momentum, and the price broke out of multiple resistance levels at $24.25 and 28.16.

Solana Price Analysis
TradingView: SOL/USDT

The price then continued to gain value but was rejected at $33.29, after which the price was seen trading sideways for a while.

The SOL token recently regained momentum and started under the bullish influence, resulting in the price breaking out of its resistance levels and further crossing the $40 mark for the first time this year and recording a 14-month high.

The price is presently hovering close to its upper level of $42.50 and is expected to test it soon.

The MACD displays a strong green histogram, indicating a massive ongoing price action for the coin. Further, the averages show a steady rise in the chart, suggesting the price will continue gaining value in the coming days.

Will Solana Price Hit New Yearly High Soon?

If the bulls continue to gain momentum and break out of the resistance level of $42.50, the SOL price will continue to gain value and make a run to test its upper resistance of $46.83.

Further, if the market holds the price at that level, it will continue to rise and test its resistance level at $50 in the coming week.

Conversely, if the bears overpowered the bulls and the price breaks down the support level at $38.77, the price will continue to fall and prepare to test its lower support level at $33.29 soon.

Moreover, if a trend reversal occurs, the price will then experience a massive plunge and will test its crucial support level of $28.16 in the coming time.

Elena R

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.

Recent Posts

XRP Stalls at $2—Is Ozak AI ($OZ) the Next Big Crypto Breakout?

XRP has struggled to break past the $2.5 mark despite strong market momentum. Meanwhile, Ozak…

April 2, 2025

Rexas Finance (RXS) vs. Shiba Inu (SHIB): Will SHIB Rebound, or is 2025 the Year of RXS?

Investors must make a crucial choice as the bitcoin market develops: stick to well-known meme…

April 2, 2025

XRP Price To Revisit $2 Before ‘Final Blastoff’

XRP is currently down by more than 1% in the last 24 hours. The price…

April 2, 2025

Ethereum Price Prediction 2025, 2026 – 2030: Will ETH Price Hit $5k in 2025?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

April 2, 2025

Altcoins to Watch as The US Is Set to Reveal Its Crypto Stockpile On April 5

President Donald Trump’s decision to create an official U.S. government crypto reserve has sparked huge…

April 2, 2025

Bitcoin Price Prediction 2025, 2026 – 2030: Is $100k Arriving Anytime Soon?

Story Highlights The Bitcoin price today is . The BTC price could hit a maximum…

April 2, 2025