Solana SOL’s potential as the leading blockchain network was reflected stunningly in the latest bull cycle. The token touched an all-time high of $200 while keeping investor sentiment alive and buzzing. With Bitcoin halving around the corner, investors are hoping that the sporadic user dispersion will help Solana scale some notable upticks.
SOL is currently sitting at $139, up 3.91% in the last 24 hours. However, in terms of blockchain metrics, Solana has been outperforming major crypto tokens and is hoping to rise in value soon.
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How High Will SOL Rise Post-Bitcoin Halving?
Solana’s recent price performance has been slow yet steady. The network has recently outperformed Bitcoin and Ethereum on daily active addresses in the last two months.
With Bitcoin Halving scheduled for April 20, Solana SOL can note a significant price spike while documenting a few modest downswings. Halving events are known to usher in price volatility in the market, where the tokens may note slight price dips before picking their momentum up.
According to notable crypto analytics platform CoinCodex, Solana may rise a modest 0.96% by April 24, trading at $138.71.
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The platform further predicts SOL to encounter a few price dips where the token sheds 1%–2% of its value and trades between $136 and $138.
Per CoinCodex, the onset of May will help Solana stabilize its price threshold, helping the token pick up its pace and rise nearly 13% by May 18.
“The price of Solana is predicted to rise by 13.39% and reach $155.79 by May 19, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 66 (greed). Solana recorded 16/30 (53%) green days with 10.65% price volatility over the last 30 days. “