Solana Price Prediction: 2024, 2025, 2030

SOL price prediction: Key highlights

1. Primary support and resistance levels

• Within the weekly chart, the lowest support was at $19.
• $250 can be expected as the highest resistance.

2. Market sentiment

• The market is seen to be slightly bullish in August 2024.  

3. Predictive forecasts

• According to the AI/ML prediction algorithms, SOL can trade at an average price of over $5,000 by 2028 and close to $700,000 by 2035.

Get deep insights on SOL via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models: 

SOL technical analysis: Bulls set to make a strong comeback

SOL distinguished itself in 2023 and garnered considerable attention from investors this year. There is widespread anticipation that SOL will continue to achieve new peaks, rendering the Solana price prediction in 2024 especially significant.
 

August 2023 was detrimental to SOL’s value as it continued to depreciate. By September, it dropped below the lowest yearly support of $19. This unstable period paved the way for a significant reversal later in the month when the coin began its upward trajectory. 

The momentum peaked with a robust pump in mid-December, pushing the price above $88. Subsequently, it challenged the $125 level but faced rejection due to market exhaustion from intense buying activity.

By the onset of 2024, SOL revisited the $88 mark. In January, the price briefly dipped below the pivotal $88 and $90 zones, only to regain strength as the month concluded. Consecutive bullish candles from late February propelled the coin to the peak resistance of $204 in mid-March.

Nonetheless, April witnessed a rejection after a prolonged standoff. A broader market downturn drove the price to $125. A gradual accumulation of buying pressure from late month culminated in a late May test of $185.

However, this triggered sell-offs. In addition, a prominent presence of red candles until mid-June erased the previous gains as $125 held off declines later in the month. After briefly stabilizing, the coin retested this level in mid-July. Once again, it rebuffed bulls.

By early August, the price retested the five-month-held support of $125. Meanwhile, on the shorter time frame (STF), AMBCrypto highlighted a critical barrier at $146. The report noted that overcoming this would propel the coin to the $150-$166 range.

The press-time trading price of $157 indicated that this level was successfully flipped. With Brazil's approval of the SOL exchange-traded fund (ETF) and the upcoming U.S. election, the coin can likely maintain a long-term bullish outlook.

As the ETF begins trading in August, it could enable buyers to retest the $185 zone. If the buying momentum persists, SOL could flip this level and approach its peak chart barrier in the short-to-medium term. A breakout over the highest yearly resistance would indicate a strong uptrend. Moreover, achieving the all-time high (ATH) would mark the next major milestone. 

However, the $250 mark may also present a significant obstacle to upward movement. Meanwhile, a close below the current support can expose the coin to an extended downtrend.

Our advanced predictive analytics indicate a promising rise in SOL’s value. These models suggest a continuous upward trajectory, predicting an average price exceeding $5,000 by 2028.

The projections become increasingly optimistic by 2035. Solana is predicted to shatter significant resistance levels, establishing a new valuation benchmark with an expected average trading price of over $700,000.

SOL's 2024 roadmap: Key indicators to watch and trade

• The trading volume mirrored SOL’s price movements, significantly increasing during market rallies. The Q2 2024 downturn led to decreased volume, signaling a more cautious approach among traders. However, the recent price uptick was supported by a rising volume, validating the investor backing behind it.
• The Chaikin Money Flow (CMF) remained above the zero line for the entire year, ending the period at 0.12. This suggested continued accumulation.
• The Moving Average Convergence Divergence (MACD) and signal line started below the zero line, albeit on an upward trajectory, with the former leading. This culminated in the lines turning positive in the second half of October.
• However, by April, the MACD line declined, marking a bearish crossover later in the month. The latest values were histogram at -3.14, MACD line at 11.73, and signal line at 14.86. This indicated a weakening in the upward momentum.