Solana (SOL) Price Prediction $100, $200 or $500 by 2023-2025

Solana (SOL) Current Price  $9.72 (804.33 INR)

SOL token is predicted to continue trading lower than $15 (1,241.25 INR) in short term.

Solana Price Performance in 2022

In Previous Month:                     -28.9%

In Previous 3 Months:               -71.9%

YTD:                                                   -94.5%

Does Solana Provide a Good Investment Opportunity?

The Solana platform provides remarkable performance even with no off-chain or layer-2 solutions. The proof of the History of Solana is its chief distinctive characteristic which offers it the peak throughput on the layer-1 chains. The hybrid consensus method of Solana takes speed in exchange for decentralization.

The creative integration of PoS as well as PoH on Solana counts as a revolutionary idea in the blockchain world. Just like Ethereum, the platform of Solana has its separate layer-1 solution to deal with non-fungible tokens (NFTs). Along with this, it is categorized as one of the most rapidly expanding ecosystems.

• Speedy than Ethereum: The blockchain of the Solana network is considered among the speediest blockchains across the globe and has thus been renowned as such in the industry. At present, it is providing nearly 2600 transfers per second while the finality time is up to four seconds.
• Cost Effective: Solana is different from the rest of the other projects as it utilizes a consensus algorithm named Proof of History (PoH). Dissimilar to conventional algorithms like Proof of Work (PoW), PoH has no requirement for a costly mining procedure. Rather, it depends on mathematical proof that is verifiable rather than computational power. This indicates that no mining charges will be implemented by the network and the costs of the transfers will be low.
• Smart Contracts and NFTs: Solana has entered the NFT space and is prepared to offer its NFT features. The platform has been keeping an eye on smart contracts and non-fungible tokens from the perspective that they could offer an expansion to their business. However, at present, the company wants to confirm that they are moving in the right direction. The market of NFTs has been getting a lot of attention during the previous year, and several firms are entering this field.
• The NFTs turned into a greatly-expanding market opportunity after the remarkable sales organized by the top digital artists. By taking benefit from this spreading market, Solana became a part of this bandwagon to offer NFT-related services to everyone.
• Solana Drives the Derivatives Market: Solana has jaw-dropping activity in the derivatives market. Its on-chain data also show positive performance. The TVL of the network has jumped by more than 15% during the previous 6 months. It appears to eliminate the distance between the derivatives market, active users, and TVL.

Nevertheless, Solana is mostly indistinguishable and thus not offers a fine investment opportunity currently.

Relevant: Solana Launches another Enormous Blockchain Update

Solana Price Technical Analysis

Statistics on the Previous Trading Day

Solana Price:                      $9.72 (804.33 INR)

Solana Rank:                      17

Solana Market Cap:        $3.58B (0.3T INR)

Solana Volume:               $259.50M (21.43B INR)

The price of Solana is presently lower than $10 (827.50 INR) and it has not been effective in defending the $10.0 (827.50 INR) support level. At the moment, the SOL token’s trading price is less than $10 (827.50 INR) hence technically it shows a bearish momentum. In general, the market dropped lower than the $800 billion mark and the platform has been pressurized from every direction.

Solana’s 50-day, as well as 200-day SMAs, stand above the mean spot of the net price thereof. This is considered to be a considerably depreciative movement and unfavorable for the traders. Both the long-term and short-term will require looking for a place near or above its 50-day moving average to get into the market.

If Solana’s price moves above its 50-day SMA, the token’s position will potentially become bullish. The initial support level for SOL is lower than $10 (827.50 INR) while its resistance is nearly standing at $13.19 (1,091.47 INR). In Solana’s case, Bollinger Bands have shrunk, signifying low volatility. Since that time, the bands began converging because volatility slumped in endeavors for dominance.

Solana’s RSI has remained ineffective to move above the boundary at 39.33. The following trading within the oversold zone for a few days, SOL saw its RSI reversing and moving toward the neutral territory. Nonetheless, the RSI is for another time within the oversold zone. Currently, the index is at the unit level of 22.66. Here, the RSI suggests that the control is again in the hands of the sellers.

Solana Price Prediction: Will SOL Reach 1000?

Solana’s price will touch $1000 in only sixteen years if the token jump by 25% per year. Nevertheless, keeping in view the history of other tokens like Bitcoin and Ethereum, exponential advancement cannot be discarded. For instance, Solana requires a 32x to get to the target while it witnessed a 100x rise in 2021.

In concept, the price level of $1,000 appears highly feasible. However, the present price statistics require several years to get to that spot. In line with the fragmentations as well as the uncertainty that is prevalent in the crypto industry, taking such a long-term perspective would be somewhat impractical.

Solana Price Prediction for 2023-2040

Solana Price Prediction for 2023 stands at $31.103 (2,573.77 INR)

SOL Price Prediction for 2025 stands at $56.183 (4,649.15 INR)

Solana Price Prediction for 2030 stands at $268.912 (22,252.48 INR)

Solana Price Prediction for 2040: Solana Price Prediction for 2040 stands at $3922 (324,545.70 INR). To reach this point, the SOL token should grow by 30% annually.

Will Solana Price Reach $5000?

At present, Solana is trading around $9.72 (804.33 INR) and requires growing by more than 420 times before touching the $5000 level. The token touched its all-time high at $258.7 back in 2021’s November. SOL took nearly nineteen months to jump from an all-time low spot of $0.95 (78.61 INR) to that point. In the meantime, it rose by 272.3 times, suggesting that the token grew by approximately 14.33 times every month. Thus, a minimum of 29 months are needed to take Solana’s value to the $5000 mark. Nonetheless, it is only practical if the liquidity and macroeconomic aspects favor the token’s progress.