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You are here: Home / Archives for Solana price

Solana price

From $150 to $300? Solana’s Roadmap to a Major Breakout

May 16, 2025 by Sadia Ali

  • Solana remains strong above $170, gaining 10% weekly and 28% over the past month.
  • Bitcoin’s surge past $100K has fueled fresh momentum across altcoins, including SOL.
  • Key resistance levels ahead include $196.22, $238.80, and $290.16, with eyes on $300.
  • Bullish structure holds above $150, supported by strong fundamentals and rising ecosystem growth.

Solana (SOL) is showing impressive strength amid the ongoing crypto market rally, holding steady near the $170 level after a brief pullback from recent highs. Despite this minor dip, SOL continues to trade within a strong bullish trend.

Over the past week, the token has gained nearly 10%, while its performance over the last 30 days shows a significant 28% increase. This upward movement has placed Solana among the top-performing altcoins during the latest market surge.

SOL 7D graph coinmarketcap 3
Source: CoinMarketcap

The broader cryptocurrency market is currently experiencing a bullish phase, largely driven by Bitcoin’s breakout above the $100,000 level. This milestone has sparked renewed optimism among investors and triggered a wave of gains across major altcoins. SOL has benefited from this momentum, maintaining solid price action and attracting growing interest from traders and long-term holders alike.

Solana Gears Up for Breakout Toward $300

According to a recent analysis from Rose Premium Signal, Solana’s bullish structure remains intact as long as the price stays above the key support level at $150. The analysis suggests that if the current momentum continues, SOL could be on track to reach the $300 mark. This level is considered a major psychological target and could pave the way for further gains if breached.

In terms of price action, Solana is currently eyeing several important levels. The first target is at $196.22, which serves as immediate resistance. Beyond that, the next potential upside level is $238.80, followed by $290.16. A successful move beyond these levels could open the door to a test of the $300 zone, where strong investor interest is expected to come into play.

image 186 1

Solana’s technical indicators remain favorable, and its recent performance reflects growing bullish sentiment across the market. With strong fundamentals, expanding ecosystem growth, and increasing developer activity, Solana is well-positioned for further upside.

As long as Bitcoin maintains its strength and market sentiment stays positive, Solana could continue to climb, making it one of the key altcoins to watch in the weeks ahead.

Read More: Ethereum on the Brink of a Major Rally: Can ETH Reach $4,201 in the Coming Weeks?

Filed Under: News, Altcoin News Tagged With: SOL News, SOL price, Solana $SOL analysis, Solana Bullish Breakout, Solana price, Solana Price News, Solana price today, solana price usd

Solana Price Prediction: Analysts Forecast $378 After Breakout Rally

May 11, 2025 by Sajjal Ali

  • Solana (SOL) up 5.70% at $172.25 with a 17.35% rise in trading volume.
  • Breakthrough above $160 resistance, with targets of $222.90 to $316.01.
  • Institutional Growth: Increased adoption, including partnerships with BlackRock and Robinhood, boosts Solana’s market position.

Solana ($SOL) is currently trading at $172.25, up 5.70% in the last 24 hours. Accompanying this price action is a sharp rise in trading volume, now at $7.44 billion, an increase of 17.35% in the same period. 

AD 4nXepUKvV1CLxuV8plvUvmYB8vpYxWR3UiaSxmDjScbv0M6ZQEWX7zAyk1klJS No22 lPZWHP2h57nOav9CvYL4bt9KFRtehk6VGFmKK6yzFyczhUdJXvv6pJWM0klJNSKiE4xEe?key=N7 1nLG pEW6RkCL66HOUcYf
Source: Coinmarketcap

Analysts attribute this resurgence to a confirmed breakout above a symmetrical triangle pattern, following a rebound from the $120 support level.

Technical charts favor a continued uptrend. The breakthrough of the top resistance level of $160, along with rising volume, has provided stronger market belief. The price has firmly stayed over the $160 figure, an important level in order to retain the bullish pattern. 

The projections indicate a potential target of $222.90 and $316.01 by using the triangle height method. The overall direction is upward based on historical highs and in alignment with long-term moving averages.

AD 4nXenUEQVOjTicoGYzIj Lr9zY0vECnsGi3OATDb ls7WJObEWX7Wxz38932ZSbjTaSMhrwHL1UIxhPXr0lIdVNmdKFIjPaLbliuQtX9QugjyeOdj6tRWDNUksnz te7HE6rbxzK3pw?key=N7 1nLG pEW6RkCL66HOUcYf
Source: X

Solana’s Growing Role in Blockchain and Finance

Recent events have entrenched Solana even deeper in the changing blockchain-financial environment. A new tie-up between blockchain infrastructure company Superstate and token issuance company SOL Strategies has been designed to seek out the issuance of tokenized public shares on the Solana blockchain. 

The push under “Opening Bell” is an attempt to bring decentralized technologies in sync with conventional financial models. While no tokens have yet been issued, the non-binding agreement is an important step toward regulation engagement and future market transformation. 

The choice of Solana for this project indicates its perceived resilience and suitability for compliance-grade financial use. Furthermore, growing adoption by institutions, highlighted by BlackRock participation and Robinhood tokenization plans in Europe, boosts Solana’s market legitimacy.

Solana price prediction for 2025

Analysts project that Solana can break its all-time high level of $294.33 by 2025 and post a figure as high as $378.24. The rationale for optimism is based on technical trends and increased investors’ confidence. 

The increasing use of its blockchain in tokenized equity markets indicates its flexibility under changing regulation and macroeconomic conditions.

As financial markets increasingly integrate decentralized systems, Solana’s infrastructure benefits in regard to speed, scalability, and developer adoption make it a top contender for institutional-grade adoption. 

External factors, though, in the form of policy changes and international trade dynamics, are variables that can impact the direction.

Related Reading | Pi Coin at Overbought Levels, Consolidation or Correction Ahead

Filed Under: Altcoin News, News Tagged With: SOL, SOL Trading Volume, solana, Solana Crypto, Solana Institutional Adoption, Solana Market Trends, Solana price, Solana Price Targets 2025, solana price usd, Solana technical analysis

Solana Whale Unstakes 100K $SOL After 4 Years, Sits on $153 Million Profit

April 23, 2025 by Onyi

  • A Solana whale who staked 991,079 SOL in 2021 has now made a profit of over $153 million, with a current holding of 1.29 million SOL worth over $180 million.
  • The whale recently withdrew 100,000 SOL (worth about $13.9 million) to Binance, possibly for selling, but still holds 1.19 million SOL.

A Solana whale has made over $153 million in profit after staking tokens for four years. Recently, they withdrew about $13.9 million worth of SOL but still have more than a million coins in their wallet.

The whale drew attention to himself after taking out about 100,000 SOL, worth nearly $13.9 million, from his staking account and sending it to Binance.

According to Lookonchain, the whale staked 991,079 SOL in 2021 when the price was trading at about $27. At that time, the total cost of buying 991,079 SOL was almost 27 million.

After 4 years of staking, this whale unstaked 100K $SOL($13.9M) 2 hours ago and deposited it to #Binance.

Back then, he staked 991,079 $SOL at around $27.

He still has 1.19M $SOL($166.37M) staked, with total profits of over $153M.https://t.co/X9KSXT0jES pic.twitter.com/qJ4tehUEUO

— Lookonchain (@lookonchain) April 22, 2025

After four years, the whale grew his holdings to 1.29 million tokens, which are now valued at more than $180 million, with Solana trading at about $140. On the 22nd of April, the investor took out a little profit by moving a portion of the money to Binance exchange, a step that many believe could be linked to selling.

Despite this move, about 1.19 million SOL still remains untouched. In total, the whale is sitting on a profit of more than $153 million, suggesting that the withdrawal is a more calculated move rather than a full withdrawal.

Solana Gains Amid Recent Volatility

Recently, Solana has shown a mix of strength and price swings. Currently, Solana is trading at $151.49 and has been up by 8.2% in the last 24 hours. Even with this small rise, the token has stayed between $134.72 and $150.35, suggesting it’s moving sideways instead of breaking out.

Over the last seven days, the price jumped by 21.6%, doing better than the overall crypto market, which rose 5%. In two weeks, it climbed more than 42%, but its monthly increase is just 8.3%, showing some ups and downs after having a strong move earlier in the month.

Related Reading | Solana beats resistance: key levels to watch after 17% weekly gain

Filed Under: Altcoin News, News Tagged With: Crypto, Solana (SOL), Solana price, Solana staking, Solana whale, Solana whale activity

Solana Price Explodes Past Key Resistance as Long/Short Ratio Hits 30-Day High – More Upside Ahead?

April 15, 2025 by Paul Adedoyin

  • Solana’s price jumps 40%, breaking past major resistance after rebounding from $95.23.
  • Long/short ratio peaks at 1.06, showing increased trader confidence in a bullish rally.
  • MACD crossover and RSI at 53.49 confirm strong buyer momentum and bullish sentiment.

After hitting a 1-year low of $95.23 last week, Solana’s (SOL) price is now up by 40%. At the time of writing, the coin’s long/short ratio has hit a 30-day peak at 1.06, suggesting that there has been a massive increase in the demand for long positions.

AD 4nXf2rDDCYsUNHaJvERm 7N Ix7Ib8uSu9et6yIpO5HW9o EVBtNylCg6EG MhbyctlREtcjWEEk6qroGkLVhZWm0Rroj5tP1OUUlNTdVQrRwsTVUFrkc 75F3t XSD00nvn0Kw?key=0 0aDixSgn3JUfnesB ZsOz

Long/short ratio. Source: Coinglass

Traders Turn Bullish on Solana as Long/Short Ratio Climbs Above 1.0

This ratio compares the number of long positions (traders believing a rise in SOL’s price will happen soon) with the number of short positions (those convinced SOL’s price will decline soon).

If this ratio is below 1, it shows that there are more traders convinced that the asset’s price would drop, a bearish sentiment. In contrast, a ratio higher than 1 indicates that more traders expect the coin’s price to rise – a bullish sentiment.

With this ratio above 1 at the moment, SOL traders are convinced that SOL’s price will keep rallying.

Solana Sets the Stage for a Breakout as Bullish Momentum Builds 

SOL’s current price gain is notable given that the coin entered the consolidation phase after rallying from its 1-year low. A consolidation phase is a cool-off period before an asset starts the next leg of its bullish run.

The technical indicators are also bullish. At the time of writing, the MACD is bullish, with the MACD line (blue) crossing over the signal line (orange).

The crossover indicates a rising buyer momentum and confirms that the coin’s current price gains could continue over the short term. Another confirmation of the bullish bias is the increasing height of the green histogram bars, which suggests increasing strength.

In addition, the RSI at 53.49 indicates bullishness. An RSI above 50 is generally an indication of bullishness.

image 137
SOL’s price chart. Source: TradingView

Solana‘s price is currently $131.04 according to TradingView data. Should buyers maintain their momentum, the coin could break out of its current pattern and rise towards $147.6, its next crucial resistance.

However, if the buying momentum weakens and the sellers take over to make profits, SOL could drop to its next crucial support of $103.17 or further drop to $95.54.

Filed Under: News, Market Analysis Tagged With: Coinglass Solana data, crypto trading signals, SOL long short ratio, SOL Price Prediction, SOL technical analysis, Solana bullish rally, Solana crypto news, Solana MACD RSI, Solana price, Solana resistance breakout

Pump.fun Moves $7.81M Solana to Kraken, Fuels Bearish Sentiment

March 26, 2025 by Bena Ilyas

  • Pump.fun moved $7.81 million worth of SOL to Kraken, totaling 54,113 SOL.
  • Solana is trading at $143.18, experiencing an increase of 2.48 percent over 24 hours but a decline of 12.80 percent over 30 days.
  • PumpSwap’s launch aims to boost Solana’s DEX ecosystem, but concerns persist over Pump.fun’s SOL transfers.

Memecoin launchpad Pump.fun has transferred a significant volume of Solana (SOL) to Kraken once again. According to Onchain Lens, 54,113 SOL, worth approximately $7.81 million, were moved to the exchange platform. The transaction comes as Pump.fun continues its pattern of dumping big SOL amounts this year, fueling market speculation.

The OnchainLen post revealed Pump.fun transferred 120,000 SOL worth $22.88 million to Kraken. Another 148,759 SOL worth $28.22 million were dumped last month. These frequent transactions are contributing to Solana’s selling pressure. In total, over 1.5 million SOL worth $293.26 million have been moved this year, raising concern among investors.

Pump.fun Launches PumpSwap Amid Selloff Concerns

Certain market participants are skeptical whether Pump.fun is liquidating its assets or moving them to different accounts. The recent transfer certainly intensifies arguments about contribution to Solana’s mild consolidations. Despite speculation, Pump.fun has started a decentralized exchange (DEX) called PumpSwap want to improve trading activities on Solana and reduce reliance on centralized exchanges like Kraken. 

While the PumpSwap seeks to enhance liquidity for investors dealing with meme coins. While this development appears positive, skepticism remains regarding Pump.fun’s ongoing large SOL transfers. Some investors regard the new platform as an attempt to manipulate attention away from the overselling that profoundly plagues the launchpad’s ethical scope.

Solana’s Price Stability Amid Market Uncertainty

Despite Pump.fun’s routine transactions, Solana’s price has remained relatively stable. After the February 13 transaction of 148,759 SOL, SOL dropped 1.2% before recovering. Analysts remain divided on whether the market will continue to consolidate or experience a breakout. Some, like VanEck, predict SOL could reach $520 if market conditions turn favorable.

Solana is now trading at $142.72, a 2.48% increase in a period of 24 hours. But the general trend is a decline of 12.80% over the period of the last 30 days, reflecting a mix of short-term optimism and longer-term caution. Crypto markets witness such contradictions very often, where limited recoveries are juxtaposed with general bearish trends.

SOLUSDT 2025 03 26 08 13 09
Source: Tradingview

Technical indicators are signaling short-term bullish momentum. On the 4-hour chart, the 50-period moving average is sloping higher, reflecting buying interest. On the daily chart, though, SOL is trading near its 50-day moving average but beneath its 200-day moving average, reflecting an overall bearish trend. 

Solana’s price movement is following a descending channel with resistance at $145–$150 and support at $135–$138. A break above resistance can carry SOL to $155–$160, supported by favorable market drivers. The inability to hold support, however, can trigger more downside to the $130–$135 range, signaling greater selling pressure.

Read More: Solana Price Prediction: Can SOL Rally to $180 This Week? RTX Is Targeting New Highs

Filed Under: News, Altcoin News Tagged With: Cryptocurrency, Solana (SOL), Solana price

Alameda’s $23M SOL Unstaking Sparks Selloff Fears as Solana Nears Death Cross

March 13, 2025 by Bena Ilyas

  • Alameda unstaked $23M SOL, distributing it to 37 FTX-linked addresses holding $178.82M SOL, sparking selloff fears.
  • Solana nears a death cross, with past occurrences leading to 90%+ declines, dimming $200 price projections.
  • SOL trades at $125.47, down 15% weekly; daily volume dropped 22.71% to $4.1B, signaling reduced market activity.

An Alameda Research-linked address has unstaked $23 million worth of Solana (SOL), raising concerns of a potential selloff. On-chain data reveals the funds were distributed to multiple addresses linked to FTX and Alameda, intensifying fears of market pressure. Historically, such large-scale unstaking events have triggered price downturns.

Alameda’s Unstaking Raises Market Concerns

Arkham Intelligence posted that Alameda Research distributed the unstaked SOL to 37 addresses linked to FTX. In total, these addresses now hold approximately $178.82 million SOL. It has sparked speculation that a large-scale selloff could flood the market, leading to substantial price declines if demand fails to match the increased supply.

Gl3hRwAWIAAz0M4
Source: X

Historically, when many SOL holders unstake their holdings, a decrease in the market prices is observed. To give you an idea, remember that a couple of months ago one of the wealthy Solana players had withdrawn almost $1 billion of SOL, which resulted in the price dropping to rock bottom. The most probable outcome of users moving the funds which have been just freed up for trading will be the consolidation and then a selloff.

Alameda Research has a history of moving significant assets post-bankruptcy. In late 2023, it staked $10 million in MATIC and transferred Ethereum worth $14.75 million in early 2024. These transactions caused noticeable price fluctuations in the respective assets. However, Solana’s price has remained relatively stable despite this latest movement of funds.

Currently, Solana trades at $125.47, down nearly 15% over the past week. Additionally, daily trading volume has dropped by 22.71% in the last 24 hours, settling at $4.1 billion which indicates reduced market participation and heightened caution among traders.

SOLUSD 2025 03 13 07 56 23
Source: Tradingview

Solana’s Technical Indicators Signal Bearish Outlook

Adding to market concerns, Solana is inching toward a death cross for the third time in its history. A death cross occurs when the 50-day moving average crosses below the 200-day moving average, signaling a bearish trend. Previous death crosses resulted in severe price declines for Solana.

Gl3dRWjbYAA5Jv 1
Source: Tradingview

The first death cross in 2022 saw SOL’s price plummet by over 90%, exacerbated by FTX’s collapse. The second occurrence led to a sharp decline before a temporary recovery fueled by the “Trump pump.” Analysts believe that projections for Solana to reach $200 are now unlikely, given the current bearish signals.

Alameda’s intentions regarding the unstaked SOL remain unclear. While FTX has begun creditor repayments, this process will take time. Earlier this month, FTX unlocked Solana tokens worth $1.57 billion, possibly as part of its restructuring efforts. Whether these unlocked SOL tokens will be sold or redistributed remains uncertain.

The current cryptocurrency market is in an extreme state of fear and major coins are undergoing massive sell-offs. Alameda’s actions may add to the confusion, but they are only one of the many factors influencing the whole ecosystem of digital assets. Some analysts believe that Solana’s strong fundamentals may enable it to surpass Ethereum at some point in the future.

Screenshot 286
Alameda's $23M SOL Unstaking Sparks Selloff Fears as Solana Nears Death Cross 13
Screenshot 288
Alameda's $23M SOL Unstaking Sparks Selloff Fears as Solana Nears Death Cross 14

Read More: Solana (SOL) At Risk of Falling Below $110 After 38% Plunge


Filed Under: News, Altcoin News Tagged With: Cryptocurrency, solana, Solana price

Solana (SOL) Surges 30% After 20% Correction: What’s Next?

March 3, 2025 by Bena Ilyas

  • Solana rebounded 30% to $156 after a 20% drop, with trading volume surging from 10M to 25M SOL.
  • Analysts predict SOL consolidating between $120 and $180, with active addresses spiking from 50K to 75K, boosting bullish momentum.
  • Key resistance is at $201.70; a breakout could drive SOL to $230.49. The RSI at 24.41 signals oversold conditions.

Solana (SOL) staged an impressive recovery, bouncing 30% after experiencing a sharp 20% decline. CrypNuevo highlighted that SOL revisited a marked range, slightly dipping lower before rebounding. This move presented additional entry opportunities, reinforcing expectations of a $120-$180 trading range for the coming weeks.

$SOL NAILED 🔨

20% correction –> 30% pump

Price even went back to the box and slightly deviated it lower as mentioned last week giving us extra entries.

Love to see it 🤝 https://t.co/XkpuqsMrug pic.twitter.com/Uq24zIatSw

— CrypNuevo 🔨 (@CrypNuevo) March 2, 2025

As of this writing, SOL is trading at $169. This recent downtrend coincides with the upcoming unlock of 11.2 million SOL tokens. This development has sparked concerns about a potential sell-off, raising speculation about how Solana’s price might react as the token unlock approaches.

Potential New Highs for Solana Ahead

On March 2, 2025, Solana experienced a sharp 20% drop, plunging from $150 to $120 before staging a swift 30% rebound to $156 within 24 hours. The dramatic price action coincided with a surge in trading volume, skyrocketing from 10 million SOL to 25 million SOL, signaling intensified market activity.

CrypNuevo predicts SOL may consolidate between $120 and $180, though deviations remain possible. Traders are eyeing key invalidation levels while rising liquidity in SOL/USD, SOL/BTC, and SOL/ETH pairs highlights growing investor interest. This suggests a dynamic market phase ahead for Solana.

GkpylkBXQAEgRkk
Source: X

On-chain metrics further reflect Solana’s volatility. Active addresses spiked from 50,000 to 75,000, while transaction volumes surged 30%. This uptick in network engagement strengthens the case for sustained bullish momentum, potentially propelling SOL to new highs in the coming weeks.

Potential Breakout Toward $230.49

Despite recent price action, SOL has faced significant downturns, dropping 24.44% over the past week and 47.68% in the past month. However, the nearest support level sits at $144.12. A break below this could lead to further declines toward $115.33, while the key resistance level at $201.70 remains crucial for a trend reversal.

Technical indicators suggest SOL may be oversold. The Relative Strength Index (RSI) stands at 24.41, below the oversold threshold of 30, while the Stochastic oscillator reads 13.42, further signaling potential recovery. The Moving Average Convergence Divergence (MACD) remains bearish at -6.14, while the 10-day SMA is $138.12, and the 100-day SMA is $164.38.

The recent 20% correction offered a buying opportunity, with the following 30% pump validating this entry point. Increased trading volume, coupled with strong on-chain activity, suggests market participants are closely monitoring SOL. If bullish momentum continues, a breakout above $201.70 could push SOL toward $230.49, significantly recovering from current levels.

Read More: XRP, SOL, ADA, DOGE Experience 20% Correction—Time to Buy the Dip?

Filed Under: News, Altcoin News Tagged With: solana, Solana News, Solana price

Solana Surges 2.5% as Whales Accumulate Millions in SOL

March 1, 2025 by Bena Ilyas

  • Solana rebounded to $146 as whales accumulated $27M SOL, with open interest surging from $2.2B to $2.7B.
  • A whale purchased 50,000 SOL ($6.77M), while another staked 41,096 SOL ($6.96M), reducing selling pressure.
  • SOL’s RSI hit 68, nearing overbought levels, while MACD confirmed bullish momentum, supporting its 2.5% price surge.

Solana (SOL) has defended the $125 support level and bounced above $144, signaling renewed confidence among investors. Despite recent volatility, whale buyers are accumulating SOL at reduced prices behind the scenes. Their continued interest highlights optimism in Solana’s long-term potential, reinforcing its resilience amid broader market fluctuations.

Whale Accumulation Sparks Market Optimism

Lookonchain mentioned in the X post that large cryptocurrency holders have increased their SOL positions. A whale recently bought 50,000 SOL, worth $6.77 million, at a market low, indicating a resurgence of long-term confidence. A wallet labeled AHdUMw…qMnj withdrew 54,544 SOL, worth $7.46 million, from Binance, while wallet 7i6FUR…kp5J withdrew 41,096 SOL, valued at $6.96 million and immediately staked the amount.

The market responded swiftly to these whale moves. Following the first withdrawal, SOL’s price surged 2.5% to $137.23 within an hour. Trading volume on major exchanges, including Binance and Coinbase, spiked by 15%, reflecting heightened investor interest. Meanwhile, the second whale’s staking decision helped reduce selling pressure, further supporting the bullish momentum.

Gk3Xff2XUAAZt31
Source: X

Technical indicators align with this optimism. Solana’s Relative Strength Index (RSI) stood at 68 during whale movements, approaching overbought conditions. Additionally, the Moving Average Convergence Divergence (MACD) displayed bullish signals, with the MACD line crossing above the signal line, suggesting continued upward momentum.

Major Solana Whales Withdraw $27 Million SOL

Whale transactions also influenced Solana’s staking landscape. The first whale staked its holdings with Jito, a leading validator, minting JitoSOL tokens and depositing them into Kamino Vault 5. This move demonstrates confidence in Solana’s DeFi ecosystem, as staking reduces short-term selling pressure and enhances platform liquidity.

A broader trend of SOL whale activity emerged, with three major players withdrawing $27 million worth of SOL. As SOL rebounded to $146.67, these purchases turned profitable. This shift coincided with an increase in Solana’s open interest, which rose from $2.2 billion to over $2.7 billion, with more than 74% of positions leaning long.

Screenshot 14.png
Source: Tradingview

Solana’s ecosystem continues evolving despite overall market challenges. Liquid staking is gaining traction, with JitoSOL becoming a key fee generator. Over the past 12 months, Solana and JitoSOL surpassed $1 billion in fees, overtaking the once-dominant Pump.fun meme token platform. However, Solana’s daily active users declined to 3.26 million, lagging behind Base and BNB Smart Chain.

Looking ahead, SOL faces a critical test with an upcoming token unlock on March 1, potentially introducing short-term selling pressure. However, continued whale interest and staking growth indicate underlying strength in the ecosystem. If market conditions remain favorable, SOL could extend its recovery, solidifying its position as a leading blockchain network.

Read More: Solana Price in Danger Zone While this SOL Rival Aims for a 243x Move in 13 Days 

Filed Under: News, Altcoin News Tagged With: Solana News, Solana price, Solana whale

Solana’s New Year Outlook Ranges From $112.52 To $128.91

December 29, 2023 by Ammar Raza

In the midst of widespread market uncertainty, Solana (SOL) has emerged as a beacon of hope for investors, defying the odds with a remarkable six-day rally. The token has witnessed an impressive 66% growth over the past week, bringing its total weekly surge to an astounding 20.37%. 

SOL 7D graph coinmarketcap
Source: CoinMarketcap

This surge has propelled Solana to reclaim the psychologically significant level of $100 and secure its position as the fourth-largest cryptocurrency by market capitalization, surpassing both XRP and Binance Coin (BNB).

The surge in Solana’s value comes on the heels of frenzied trading over the weekend, marking a temporary ascent of the Solana blockchain in the rankings for on-chain activity. According to data from DefiLlama, decentralized exchanges built on Solana are approaching the multibillion-dollar trading volumes seen on Uniswap, signaling a surge in activity largely fueled by speculative trading.

While Ethereum remains the leader among layer-1 blockchains for running smart contracts—the foundation of decentralized finance (DeFi)—Solana is making significant strides. Ethereum boasts an impressive $29 billion in total value locked within its ecosystem, dwarfing Solana’s $1.5 billion, as reported by DefiLlama. Nonetheless, recent events suggest that SOL is emerging as a formidable competitor.

Solana (SOL) New Year Projection

As of December 28th, the bullish rally has experienced a reversal, with the SOL price currently standing at $103.80. The 24-hour trading volume is reported at $4,434,979,101, reflecting a 7.44% decrease over the last 24 hours. 

Over the past month, SOL has witnessed an impressive 100.37% increase in price, adding a substantial $109.43 to its current valuation. This sudden growth has positioned SOL as a potential solid asset, provided the upward trajectory continues. The past 30 days have seen SOL experience green days on 60% of occasions, with a notable 22.13% price volatility.

SOL 1M graph coinmarketcap
Source: CoinMarketcap

For the short-term outlook, Changelly’s SOL price prediction suggests a 5.91% decrease, projecting a drop in value expected by December 29, 2023. Technical indicators reflect a bullish market sentiment of 86% for SOL, while the Fear & Greed Index registers a score of 73 (Greed).

Capture 12

Looking towards the New Year, experts and analysts offer divergent predictions. According to Changelly’s forecast for January 1, 2024, Solana’s price is expected to reach $112.52, indicating a 5.58% increase. Other cryptocurrency experts anticipate a minimum trading cost of $103.82, with a potential maximum reaching $128.91 during the month. 

On average, the forecast suggests Solana’s value settling around $116.37, promising a potential return on investment (ROI) of 14.1%. As the cryptocurrency market navigates these dynamic fluctuations, all eyes remain on Solana for its potential impact on the evolving landscape of digital assets.

Related Reading |  Cardano Nears Bullish Breakout, But $1 Resistance Remains Prominent

Filed Under: News, Altcoin News Tagged With: SOL, solana, Solana price, Solana Price Analysis

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