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The Solana price prediction shows that SOL could break above the 9-day moving average and head toward the channel’s upper boundary.
Solana Prediction Statistics Data:
- Solana price now – $231.58
- Solana market cap – $110.48 billion
- Solana circulating supply – 474.82 million
- Solana total supply – 589.0 million
- Solana Coinmarketcap ranking – #4
Getting involved early in crypto projects can yield extraordinary returns, as demonstrated by Solana (SOL). Trading between $224.02 and $240.99 over the past 24 hours, SOL has risen an incredible 47,360.34% from its all-time low of $0.5052 on May 11, 2020. Although currently down -9.12% from its all-time high of $263.83 reached on November 23, 2024, Solana’s remarkable growth and resilience make it a standout project in the crypto space.
SOL/USD Market
Key Levels:
Resistance levels: $280, $290, $300
Support levels: $185, $175, $165
SOL/USD on the daily chart reveals mixed signals, with the market grappling to define a clear direction. SOL has been under pressure due to broader cryptocurrency market dynamics, particularly Bitcoin’s recent weakness. Despite favorable on-chain fundamentals, the current price action suggests a consolidation phase, with SOL/USD testing key support levels. The daily chart provides a clearer picture of these movements, highlighting short-term challenges and potential long-term opportunities.
Solana Price Prediction: Solana Could Head to the North
According to the daily chart, the Solana price recently lost support at $244, a significant level previously serving as a springboard for bullish rallies. Its failure to hold this support has shifted the focus to lower levels, with $220–$215 emerging as the next critical zone. On the upside, resistance at $245 remains pivotal. A break above this level could signify the return of bullish momentum, with subsequent targets at $259 and $264, aligning with prior peaks. The chart also highlights that SOL is currently trading within a narrowing range, suggesting the potential for an imminent breakout.
However, Solana’s daily chart shows consolidation within the channel, signaling the potential for a major move depending on whether the $245 resistance is breached or the $220 support fails. A bullish breakout above the 9-day and 21-day moving averages could drive prices toward $280, $290, and $300, while a breakdown below the channel’s lower boundary may lead to declines to $185, $175, or $165. The current trend remains uncertain, with price direction hinging on buyers’ ability to reclaim key levels or further bearish momentum pushing the coin lower.
SOL/BTC Consolidates within the Channel
Against Bitcoin, the Solana price is moving bearishly below the moving averages, and if the sellers increase the pressure, it could swing low to cross below the lower boundary of the channel which could locate the support level of 2300 SAT and below. On the other hand, if the market price crosses above the 9-day and 21-day moving averages, it could reach the resistance level of 2700 SAT and above.
Meanwhile, the 9-day moving average remains above the 21-day moving average which could mean that the market is likely to follow the bullish movement. Therefore, any bullish movement towards the upside may create additional gains within the channel.
Crypto analyst @DaanCrypto, with over 394k followers on X (formerly Twitter), observed that $SOL recently broke below its local range lows. He noted that a potential reversal could occur if $SOL finds support at this level, with the circled area serving as his trigger for a long position targeting all-time highs. However, the outcome hinges on Bitcoin’s short-term movement. Should $SOL fail to hold this zone, the next key support area to watch would be around $210.
$SOL Took out the local equal (range) lows.
We'll have to wait and see if it can find some support here and reverse.
Circle would be my trigger for a potential long back to the all time highs.
Will depend on where BTC goes in the short term.
If it doesn't end up holding this… pic.twitter.com/jDhxNPtP6T
— Daan Crypto Trades (@DaanCrypto) November 26, 2024
Alternatives to Solana
From a daily chart perspective, SOL/USD is at a pivotal point. If Bitcoin stabilizes and turns bullish, SOL could capitalize on its robust fundamentals, breaking above $245 and initiating a rally toward $259 or higher. Alternatively, continued weakness in Bitcoin or a drop below $220 could result in SOL testing lower support levels, potentially extending its consolidation phase. On the other hand, Pepe Unchained is emerging as a significant player in the cryptocurrency market, particularly in the meme coin space. With over $54 million raised in its presale phase, it has surpassed expectations and is targeting $100 million before its launch in approximately 16 days.
Pepe Unchained Raises $53M, Poised as 2025’s Top Meme Coin
Now is the perfect time to invest in Pepe Unchained, as its launch aligns with the growing popularity of meme coins and a recovering crypto market. With a cutting-edge infrastructure, unique features, and a vibrant community, Pepe Unchained is set to revolutionize the meme coin space. Early investors in the presale phase have a golden opportunity to secure $PEPU tokens at the ground level, with the potential for significant returns as the project gains traction on major platforms and its innovative ecosystem takes shape. Don’t miss your chance to be part of the next big thing in crypto.
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