Will Solana (SOL) Price Skyrocket to New Record Highs? Here's What Crypto Investors Think

Solana (SOL) has been one of the best-performing assets since the last quarter of 2023 and so far this year. This positive run has sparked several conversations

Cryptocurrency data aggregator CoinGecko recently conducted a survey to gauge the sentiments of crypto enthusiasts regarding the price trajectory of Solana (CRYPTO: SOL) and other top digital assets. The survey, titled the Post-Halving Sentiment Survey, received responses from over 2,500 anonymous participants.

Solana price predictions from CoinGecko survey participants varied widely, with some expecting the altcoin to reach new all-time highs and others anticipating a more limited rally. Interestingly, the majority of investors are betting on the SOL token growing as high as $300 this cycle, according to the survey.

24.9% of crypto participants expect Solana’s price to only climb as high as $300 in the current cycle. As shown in the chart below, this appears to be the most popular price prediction for the altcoin amongst the crypto crowd. A $300 price top would represent a mere 16% from the current all-time high of $259.

Solana price predictions amongst crypto investors

The second-most popular prediction was the $300 – $400 range, which was forecasted by about 14.7% of the total participants in the survey. This was followed closely by two prediction classes, including $400 – $500 (12.6% of respondents) and $500 – $600 (12% of respondents).

Notably, about 10.6% of the survey participants predicted that Solana’s price will surpass $1,000 in this current cycle. It would take at least a 900% rally for the SOL token to reach this price target from the current price point.

Solana price overview

At press time, the price of Solana stood at around $183, reflecting a 6.2% climb in the past 24 hours. This 24-hour performance puts the bulls back in control after what has been a sluggish week for the cryptocurrency.

Moreover, this 24-hour gain only underscores Solana’s impressive run in the past two weeks. Based on data from CoinGecko, the SOL token is up by more than 30% in the last 14 days.

Solana price chart for the past 14 days

The altcoin has also enjoyed several weeks of positive price action, which has seen SOL token prices rally by over 100% since the last week of June. This impressive run of form has seen Solana prices more than double in the past month.

Solana price analysis for the past month

Solana price technical outlook

According to recent technical analysis of Solana prices by Finbold, indicators suggest a bullish outlook for the SOL token. At press time, the Moving Averages (MAs) and Exponential Moving Averages (EMAs) are indicating a strong buy on the cryptocurrency.

Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are also pointing towards a strong buy on Solana. However, Bollinger Bands (BBands) are suggesting a sell on the altcoin.

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