Solana SOL is now up over 15% since last week. The crypto token has a strong bullish sentiment. Solana SOL is a cryptocurrency that has recovered quite well over the past few months. In the wake of recent market turmoil, SOL’s value dropped to below $100. SOL has risen 18% over the last 30 days, and this climb continued into the week. What will SOL do next?
The Solana crypto finally shows positive momentum following a slow beginning to the year. The asset is gaining in popularity, and the potential for a Solana SOL ETF seems to be gaining momentum. SOL’s rise coincides with the appointment of Paul Atkins as SEC chairman, a pro Bitcoin official. Atkins is expected to take a relaxed stance towards the crypto industry. In the next few months, a Solana SOL exchange-traded fund (ETF) could be approved by the newly restructured SEC. This would help accelerate Solana’s rise. Currently SOL is about 48% lower than its ATH.
SOL’s stablecoin markets have also risen since February. They recently reached a value of $13,07 Billion. It shows that the network has increased trust, and more liquidity is flowing in. SOL’s value has rebounded in recent weeks, despite a slowdown in trading. This is similar to what TVs around other crypto assets have done. Bitcoin’s rebound played a role, with the king-coin now back at around $97,000.
Solana SOL Price: Where will it go next?
CoinCodex predicts that Solana will continue to move sideways in the next few weeks. The coin prediction website is actually bearish about SOL and predicts that the coin will drop 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 have a lot to say. “Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 53 (Neutral).”
With $SOL trading at $148 and above the $145 level of support, investors have their eyes on the next price milestone. Analysts have also pointed out a cup-and handle pattern on the weekly charts, where a move above the $155 barrier could lead to the $180 price rally. The $SOL open interest reached $5.75 billion Wednesday. This suggests that the next goal could be $200, even without any ETF approval.
Also Read: Bitcoin: BlackRock Buys Additional $351 Million BTC
In the future, experts on the market believe that Solana SOL could reach $500 this year. SOL, on the other hand, has moved very slowly. CoinCodex predicts that the trend will continue throughout the entire year. The altcoin may not be able to reach $500. SOL is only expected to reach this milestone in 2029, according to the firm. This asset is expected to trade for a maximum of $556.55 during the period. It is a 237 percent increase from the asset’s current price.
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Source: watcher.guru
