Solana Price Prediction: What Are the Chances of SOL Hitting $25 in 2023?

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Solana’s SOL coin has been on an upward movement since the start of September, attracting more investors in the market. The announcement about Visa sending USDC via Solana blockchain also contributed to the bullish sentiment in the market.

As of today, September 19, at 5:50 a.m. EST, SOL’s price is $20, with a trading volume of over $300 million. These values represent a 5% and 86% increase in the coin’s price and trading volume in the last 24 hours.

Additionally, SOL has been bullish in the past seven days, with a gain of over 11%, according to CoinMarketCap. With big changes happening in the SOL market, it’s essential to understand if FTX’s billion-dollar Solana sale can stop SOL from hitting $25.

FTX’s Billion-Dollar Solana Liquidation, What Happens to SOL?

The potential Solana (SOL) liquidation from the bankrupt FTX exchange has raised speculation and FUD among traders and investors. FTX’s large portfolio shows that it has a lot of money invested in Solana (SOL), which is around $1.16 billion.

This amount is over one-third of their money in cryptocurrencies, about $3.4 billion. Investors are speculating a lot about what might happen if FTX decides to sell the SOL tokens. But a crypto expert, MartyParty, explained what could happen to SOL if FTX liquidated all the tokens in a tweet.

This is Alamedas Solana wallet which has the rights to the 26,740,743 staked $SOL from 2025-2028.

This wallets keys will be sold in the FTX liquidation. Not the $SOL which cannot be unlocked until 2025-2028.

As Ive been posting for weeks – FTX/Alameda only hold 7m $SOL and… pic.twitter.com/WeIkCKf2Ek

— MartyParty (@martypartymusic) September 13, 2023

The analyst pointed out that many assets connected to FTX’s sister company, Alameda, are staked SOL tokens. These tokens won’t be available until the year 2025.

MartyParty concluded his thorough investigation by stressing that previous sell-offs haven’t caused big disruptions in the crypto market. He believed it’s a story told to encourage selling, and sometimes, exchanges take advantage of the fear to buy at low prices and sell at high ones.

Given the complex factors and expert opinions, SOL’s price might change positively in the coming weeks. However, predicting if the price will reach $25 is difficult. Therefore, investors should stay updated with market trends to monitor the price movements.

Technical Indicators Shows Bullish Momentum – Can SOL Go Further?

Based on chart and technical indicators, SOL’s price is growing today, indicating that more buyers are entering the market.

SOLUSD is heading towards the upper band of the Donchian indicator, suggesting a period of strong upward momentum. While the upward movement signifies strength, it also raises the potential for a price correction or consolidation.

Furthermore, SOL’s Relative Strength Index (RSI) recently increased. A few days ago, it had dropped to the 30 zone, which usually indicates the coin might have been oversold.

Now, it’s at 54, meaning the coin’s bullish strength is increasing, but it’s not in the overbought zone yet. This could mean there’s still room for more growth. Also, the Moving Average Convergence Divergence (MACD) is giving positive signals. It’s positioned above the signal line, which is a good sign.

The histogram bars also show green, indicating that the bullish momentum is strong. The green bars in the histogram reinforce the buying pressure in the market. Considering the current momentum in the market, SOL will likely continue its upward movement for some time.

However, it’s essential to employ other technical analysis tools before deciding.

SOL Broke Out from Channel-Down Pattern – Target $32 Resistance Level

SOL has broken out of its Channel-Down pattern, indicating a potential push toward the $32 resistance level. This likelihood is supported by the daily RSI, which shows steady growth.

The coin had been confined within this downward channel since July 14. This breakout now signals a potential shift in momentum, offering an optimistic outlook for SOL’s future performance.

However, traders should stay vigilant and monitor the market closely for any potential changes in trends or new developments. But while SOL pushes to break the resistance, there’s an opportunity to gain faster with a memecoin BSC still on presale.

Solana Alternative, Bitcoin BSC Smashes $3 Million as Prospect Floods in

Bitcoin BSC (BTCBSC) is a token created on the Binance Smart Chain network. The project has recorded enormous milestones in its presale session as investors invest heavily to support the initiative’s vision.

Also, launching on the Binance Smart Chain network means the project offers a faster transaction rate with fewer fees. This feature will attract more investors to the project, thereby bossing its adoption and positively affecting its price in the future.

Also, it has a total token supply of 21 million. This will limit its circulating supply, causing a higher demand increase, which will boost its market value.

Bitcoin BSC Presale Nears Soft Cap Target

The BTCBSC fundraising, which started in less than one month, has recorded astounding achievement. Remarkably, it raised over $3.1 million earlier today, September 19, 2023, quite close to its soft cap benchmark of $3.9 million. The selling price for a single BTCBSC token is $0.99.

Interestingly, the project offers a stake-to-earn program. With this, investors earn passive income when they stake their tokens. Information from the presale website shows that 69% of the total token supply will be sent to the project’s staking pool to generate rewards every 10 minutes.

However, investors’ rewards are based on their percentage in the total staking pool and are eligible for withdrawal after a 7-day token lock.

Over 1.5 million Bitcoin BSC tokens have been staked in the staking pool with an annual yield of 168%. Therefore, interested investors can purchase some BTCBSC tokens by visiting the presale website and following the how-to-buy instructions carefully.

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