Solana (SOL) Price Prediction: SOL Targets $280 Next as DEX Volume Flips Ethereum (ETH) and All Layer 2s Combined

Solana price recently broke out of a multi-month consolidation that began in March this year. Following an impressive performance in the past three weeks, Solana price is about 6.5% away from retesting its all-time high

Sonana (SOL) price recently underwent a breakout from a multi-month consolidation that began in March. Following an impressive performance over the past three weeks, Solana price is about 6.5% away from retesting its all-time high, around $259, which was set in November 2021.

After successfully dethroning Binance Coin (BNB) in the fourth position last week, Solana (SOL) is now preparing for the much-awaited rally to price discovery. The large-cap altcoin has surged over 50 percent in the last two weeks to trade at about $242 on Monday, November 18, during the early European market.

Solana’s market cap has joined Ethereum (ETH) and Bitcoin (BTC) in the league of above $100 billion. As of this writing, Solana had a market cap of about $115 billion and a daily average traded volume of around $11 billion.

Solana Price Aims for $280 Next

Solana price recently broke out of a multi-month consolidation that began in March this year. Following an impressive performance in the past three weeks, Solana price is about 6.5% away from retesting its all-time high, around $259, which was set in November 2021.

From a technical standpoint, Solana price is now aiming for the next liquidity range between $280 and $327, which coincides with the 2.618 and 3.618 daily Fibonacci Extension. Moreover, the weekly Relative Strength Index (RSI) is on the cusp of rallying above the 70 level for the first time since April this year.

However, Solana price could retest the support level around $181, before rallying towards a new ATH ahead. The heightened crypto volatility, triggered by the notable liquidation of leveraged traders, has set the stage right for extreme fakeouts.

Robust Fundamentals

The recent Solana bullish breakout is bolstered by the rising on-chain activities, fueled by the FOMO traders, especially in the meme coin space. For instance, Solana’s weekly DEX trading volume surpassed Ethereum, and all its Layer 2s combined for the first time. So far in November, Solana’s DEX volume has surged to over $63 billion, thus setting a new ATH.

The Solana ecosystem has significantly benefited from the ongoing mainstream adoption of web3 projects and digital assets by institutional investors.

FAQs

As of today, Solana (SOL) is trading at approximately $242.39, reflecting a positive movement in the market

According to Solana price predictions, SOL could reach up to $750 by the end of 2025, with a potential surge pushing it as high as $1,672 by 2030

Solana (SOL) has a Strong Buy rating across Tech, MA, and Os categories, with an RSI of 75.54 indicating strong bullish momentum. With positive MACD and strong market activity, SOL appears to be a solid buy right now.

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