Solana SOL Up 15% in One Week: Where’s SOL Going Next?
The Solana SOL cryptocurrency is up by over 15% in the past week, signaling bullish momentum behind the crypto token. Solana (SOL) has made quite a recovery over the last month. The asset’s price fell to sub-$100 levels during the recent market crash. Fortunately, SOL’s price has rallied 18% in the past 30 days and continued that climb this past week. Where will SOL go next?
Indeed, the Solana cryptocurrency is finally showing positive momentum after a slow start to the year. There is growing optimism behind the asset, as well as the looming potential of a Solana SOL ETF. SOL’s rally also comes amid a new pro-Bitcoin head, Paul Atkins, being appointed to the SEC. Many anticipate that Atkins will take a more relaxed approach to the crypto sector. The newly revamped SEC could also decide on a Solana SOL ETF in the coming months, which would accelerate a Solana surge. Currently, SOL is around 48% below its ATH.
Additionally, SOL’s stablecoin market capitalization has surged since February, recently surpassing $13.07 billion. This signals growing trust and liquidity flowing into the network. While trading volume has slowed, the TV around SOL helped the asset’s price rebound in the past week, as TV did for many crypto assets on the market. Bitcoin’s rebound also played a part, as the king coin is back up around $97,000.
Where is Solana SOL Price Going Next?
According to CoinCodex, Solana (SOL) will move in a sideways trajectory over the coming weeks. Indeed, the coin prediction site is bearish on SOL, suggesting the coin will dip by May. “According to our current Solana price prediction, the price of Solana is predicted to drop by -7.35% and reach $ 140.99 by May 30, 2025,” the CC analysts say. “Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 53 (Neutral).”
With $SOL holding above the $145 support and currently trading at $148, investors are eyeing the next major price level. Other analysts point to a cup-and-handle formation on the weekly chart, with a break above the $155 resistance potentially opening the door to that $180 rally. Furthermore, $SOL futures open interest hit $5.75 billion on Wednesday, suggesting the next target could stretch to $200 even before any ETF approval.
Also Read: Bitcoin: BlackRock Buys Additional $351 Million BTC
Beyond the near future, several experts in the market predict that Solana SOL can reach a high of $500 by this year. On the contrary, SOL has been moving quite slowly. According to CoinCodex, the asset will most likely carry its current trend throughout the year. Therefore, $500 could be out of the picture for the altcoin. The firm revealed that SOL will be able to achieve this milestone only in the year 2029. During this period, the asset will trade at a maximum price of $505.65. This comes after a 237% rise from its current price level.
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Solana SOL Up 15% in One Week: Where’s SOL Going Next?
The Solana SOL cryptocurrency is up by over 15% in the past week, signaling bullish momentum behind the crypto token. Solana (SOL) has made quite a recovery over the last month. The asset’s price fell to sub-$100 levels during the recent market crash. Fortunately, SOL’s price has rallied 18% in the past 30 days and continued that climb this past week. Where will SOL go next?
Indeed, the Solana cryptocurrency is finally showing positive momentum after a slow start to the year. There is growing optimism behind the asset, as well as the looming potential of a Solana SOL ETF. SOL’s rally also comes amid a new pro-Bitcoin head, Paul Atkins, being appointed to the SEC. Many anticipate that Atkins will take a more relaxed approach to the crypto sector. The newly revamped SEC could also decide on a Solana SOL ETF in the coming months, which would accelerate a Solana surge. Currently, SOL is around 48% below its ATH.
Additionally, SOL’s stablecoin market capitalization has surged since February, recently surpassing $13.07 billion. This signals growing trust and liquidity flowing into the network. While trading volume has slowed, the TV around SOL helped the asset’s price rebound in the past week, as TV did for many crypto assets on the market. Bitcoin’s rebound also played a part, as the king coin is back up around $97,000.
Where is Solana SOL Price Going Next?
According to CoinCodex, Solana (SOL) will move in a sideways trajectory over the coming weeks. Indeed, the coin prediction site is bearish on SOL, suggesting the coin will dip by May. “According to our current Solana price prediction, the price of Solana is predicted to drop by -7.35% and reach $ 140.99 by May 30, 2025,” the CC analysts say. “Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 53 (Neutral).”
With $SOL holding above the $145 support and currently trading at $148, investors are eyeing the next major price level. Other analysts point to a cup-and-handle formation on the weekly chart, with a break above the $155 resistance potentially opening the door to that $180 rally. Furthermore, $SOL futures open interest hit $5.75 billion on Wednesday, suggesting the next target could stretch to $200 even before any ETF approval.
Also Read: Bitcoin: BlackRock Buys Additional $351 Million BTC
Beyond the near future, several experts in the market predict that Solana SOL can reach a high of $500 by this year. On the contrary, SOL has been moving quite slowly. According to CoinCodex, the asset will most likely carry its current trend throughout the year. Therefore, $500 could be out of the picture for the altcoin. The firm revealed that SOL will be able to achieve this milestone only in the year 2029. During this period, the asset will trade at a maximum price of $505.65. This comes after a 237% rise from its current price level.
Read More