Solana Price Prediction for 2024: $1,000 is possible?

Solana has rallied more than 400 percent in the past six months and is flucuating around the $100 price level.

The current surge has been partly due to a recovering cryptocurrency industry that has also seen a surge in its market capitalization, which has risen by over 40 percent.

However, compared to other cryptocurrencies, Solana’s recent price surge has been different in many aspects and is being driven mainly by the crypto’s underlying fundamentals.

Solana price prediction 2024 SIGNUP NOW

Solana’s recent surge has also resulted in speculations on how high the prices might reach in the coming weeks, months, and years.

It has also resulted in lingering questions about whether the price surge is just a fluke or if it will extend in the coming years.

This article will take a deep dive into Solana’s underlying fundamentals and also offer a technical analysis of where we expect it to be by 2030.

Background of Solana’s Meteoric Rise
To understand where Solana will be trading in 2030, we must have a good understanding of what has happened in the past six months that has triggered a 400 percent increase in its price.

In June, when the U.S. Securities and Exchange Commission (SEC) made its ‘we don’t need more crypto’ announcement, there were expectations that crypto would start falling.

Fortunately for Solana, the anticipated drop never happened, and since then, its prices have surged, with the SEC losing a similar case against Ripple.

Today, Solana looks very positive in all metrics.

The network has seen a sharp increase in decentralized applications (DApp) volume, with the total value locked surging to over 1.30 billion from $650 million in just under a month.

The network has also seen a sharp growth in the number of active addresses interacting with DApps, reaching an impressive 875,000 at a time when almost all its competing blockchains are experiencing a decline.

The continued growth in its network is solidifying its position in the DApp industry.

The current price surge has also been a result of Solana’s continued technology that offers users cheaper, faster transactions compared to other networks such as Ethereum.

SOLANA Price Prediction 2024 – 2025

Now, having looked at what is causing the current Solana price surge, chances are, you are wondering if the surge is a fluke or if it will continue for the next few years, and more specifically, where it could be trading in 2024 – 2025

Fortunately, based on the fundamentals described in the sections above and Solana’s technical analysis performance, we can speculate where we expect Solana to be trading in 2024 – 2025

For starters, despite the current price surge, Solana has still not recovered from the cryptocurrency bear markets that started in 2021 and lasted until mid-2023

Therefore, despite gaining 400 percent in the past six months, the prices are still well below what they were trading at a few years ago.

As of Dec. ’23, Solana is approaching a critical psychological price level of $100, and there is a high likelihood it will be hitting this price level in the coming days.

General Crypto trends

Another important thing to note before we begin speculating where it will be trading in 2030 is the likelihood of the current cryptocurrency bull markets reversing.

For instance, macroeconomic factors such as uncertainty in traditional markets have also been found to have an impact on cryptocurrencies.

Therefore, it is likely that ongoing events, including conflicts in different parts of the world that might escalate, and the upcoming 2024 US elections might play a huge role in the long-term performance of Solana.

That being said, the current Solana fundamentals that we have discussed above, including resilience in the markets despite SEC warnings, an increase in DApps usage, and the rising total value locked is expected to carry on for the next few years.

The continued interest from institutional investors is also expected to peak again as the industry continues to recover. Solana price prediction

Looking at the chart above, the next few weeks will see Solana hitting the psychological price level of $100 and continue trading above this price level.

The chart also shows that the other nearest price high is at $143, which was hit in April 2022, and since then, the prices have traded mostly below the $100 price level.

Solana price prediction 2024-2025

The first level that will be broken in 2024 will be the $143 resistance level, and there is a high likelihood that we will see this level being broken and Solana trading above it by the end of next year.

After breaking the $143 price level, our next target in the coming years will be Solana setting a new price high after breaking the current price level of $260 by 2025.

This speculation is based on several factors, including the fundamental analysis discussed above and also the continued investment in the project and its underlying technology.

As seen from our above estimation, despite Solana gaining over 400 percent in the past 6 months, we must account for the possibility that there will be times when the markets move against the bullish trend.

Therefore, our above analysis of $260 by 2025 shows an annual price increase of 46 percent, which is conservative but realistic based on past cryptocurrency market performance.

Create your coin on Solana blockchain

So, what’s our SOL forecast for 2030?

By 2030, there are three likely outcomes based on the chart above.

The first likelihood is conservative and is based on a yearly price gain of 46 percent, which is realistic for a cryptocurrency bull market.

This would mean Solana’s price will be trading at around $580.

The next likelihood is the possibility of Solana outperforming the markets in the next few years and by 2030 trading between $1000 and $3000.

This speculation is based on current price performance, where we have seen Solana being able to gain over 400 percent in a span of six months.

The $1000 to $3000 price prediction also accounts for periods where the markets will not be moving as intensely as they are currently, and in some cases, between now and 2030, Solana will go into bearish trends and then recover.

Solana price prediction

Bear case?
The third likelihood is a situation where, as 2030 approaches, Solana enters a long-term bearish trend that reverses gains made from now until 2030.

This is realistic, as we have seen Solana going into a bearish trend from late 2021 to mid-2023.

Based on all the details discussed, our Solana 2030 predictions expect it to be trading between $550 and $1000.

Summary
We are optimistic that the current Solana bullish trend will continue for the next few years until 2030, and annual gains will be over 40 percent on average when looked at from 2030.

This speculation is conservative but realistic, based on the historical performance of the wider cryptocurrency markets in general and Solana in particular.

Our SOL prediction also takes in to account general three-to-four year crypto cycles with bear markets included and expected.