Can Solana Price Reach To $1,000? Solana Price Prediction

The price of Solana breaks important resistance at $211. Analysts are aiming for $1,000 by the end of the bull run, with $263 and $330 as the next objectives.

Key Takeaways

• After rising to $211, the price of Solana looks at $263 and $330 as its next possible targets.
• Before attempting to reach $263 and $330, SOL needs to overcome the $211 annual high resistance.
• By the end of this bull run, SOL’s price is expected to hit $900–$1000, according to one analyst.

After Bitcoin’s meteoric rise over the weekend, the price of Solana broke above important barrier levels. The price of SOL has recovered to its prior annual high of $211 and may rise to even higher levels in the days ahead. As of 05:39 a.m. ET, the price of SOL has risen 4.2% over the past day, including a weekly gain of 33.2% to trade at $215.21.

Analyst Predicts Optimal Future for Solana Price

Corne Marchand, a cryptocurrency specialist, pointed out that the SOL price might be aiming for new highs. Marchand claims that Solana has just one major challenge left before reaching unprecedented heights never before seen. This hurdle is the $248 level, which is also Solana’s prior highest point.

After briefly topping $211, SOL’s market cap entered the $100 billion club; however, it has since retraced and is now hovering around $99 billion. According to Marchand, the SOL price has the potential to reach $360 when it breaks $248. He estimates that each SOL will be worth $900 to $1,000 during this bull run.

Can SOL Price Reach $1000 During This Bull Run?

Thanks in large part to the meme coin frenzy, SOL had a successful year. As a result of Bitcoin’s post-halving sell-off and other negative market conditions, most other cryptocurrency coins either stayed the same or fell over that time, whereas Solana surged by 269%.

Given that such price increases have happened in the past, SOL’s price has the ability to jump to $1,000 and beyond. One example is the 810% (9.1X) growth in SOL value since its low point in December 2022. More than 15,000% (160X) of SOL’s value was added during the first bull cycle in 2021.

With another strong showing, Solana’s value might skyrocket to $2,000, well beyond what it is now worth around $900 or $1,000. Be that as it may, these are long-term objectives, and they may come to fruition as the current bull market winds down.

Next Solana Price Targets Prior to $1,000

The asset’s predicted price for Solana is $900–$1000, after which it will likely hit a few pauses. On November 5, the price of SOL fiercely broke out of the bull pennant and rocketed to $211, as shown in the 3-day price chart. Unfortunately, the asset has encountered a problem and is now displaying rejection symptoms. However, the Average Directional Index (ADX) reveals that market conditions remain positive and that purchasing pressure is still significant.

Volatility is low at 18, but the ADX is rising, so Solana’s trading activity is picking up speed. If that trend continues, along with the price increase, SOL may reach a new all-time high in the coming days.

The $211 yearly high, $263, and $330 are some important resistance levels to keep an eye on. The final two indicate possible regions where prices could be rejected; they coincide with the 27% and 61.8% Fibonacci extension levels, respectively.

There is a good probability that the SOL price will above the $211 resistance, as data from Coingecko shows that trading volume for Solana over the past 24 hours skyrocketed by 136%. This indicates that the breakout was authentic.

Conversely, bearish sentiment would be indicated if the Solana price is unable to rise above $211. Prior to making a comeback, SOL would retrace to the bull pennant’s peak at approximately $175. Returning to the pennant level would render the present bullish premise useless.

FAQs

1. Why did the price of Solana recently spike to $211?

Bitcoin’s meteoric rise, which boosted the whole cryptocurrency market, was the primary driver of the most recent Solana price spike.

2. Will the price of Solana hit $1,000 during this bull run?

Indeed, that is feasible. By the end of this bull run, analyst Corne Marchand believes Solana might hit $900 to $1,000. Similar spikes have been documented in the past, including a 15,000% gain during its first bull cycle in 2021.

3. After $211, what is the next price goal for Solana?

Analysts predict that Solana will next aim for $263 and $330 after reaching $211.

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