The Solana SOL cryptocurrency is up by over 22% in the past month, signaling bullish momentum behind the crypto token. Solana (SOL) has made quite a recovery over the last few weeks. The asset’s price fell to sub-$100 levels during the recent market crash. Fortunately, SOL’s price has rallied and is now trading back near $144.
SOL’s stablecoin market capitalization has surged since February, recently surpassing $13.07 billion. This signals growing trust and liquidity flowing into the network. While trading volume has slowed, the TV around SOL helped the asset’s price rebound in the past month. Additionally, the broader crypto market is showing some momentum, led by Bitcoin reclaiming $97,500 recently. At press time, BTC is back below $94,000, causing SOL to drop just over 1% in the past week. Despite the short-term dip, Solana’s rebound in April can’t be ignored.
Some crypto analysts are especially bullish on the Solana cryptocurrency, projecting new highs in the next 12 months. In particular, Analysts at FXLeaders are projecting an over 100% surge from its current price. This would, in turn, bring SOL to a new all-time high, breaching its $294 record. FXLeaders believes Solana’s sustained momentum with consistently high trading volume at this rate could take its value between $170 and $185. From there, it has the potential to rise further between $260 and $320 if it successfully establishes and defends a key support area at $150.
Also Read: AI Predicts PEPE Will Delete A Zero By May 10, 2025
This prediction could indeed come true if market sentiment remains in crypto’s favor. There is growing optimism behind Solana specifically, as well as the looming potential of a Solana SOL ETF. SOL’s rally also comes amid a new pro-Bitcoin head, Paul Atkins, being appointed to the SEC. Many anticipate that Atkins will take a more relaxed approach to the crypto sector. The newly revamped SEC could also decide on a Solana SOL ETF in the coming months, which would accelerate a Solana surge
On the flip side, other analysts suggest a more bearish scenario. According to CoinCodex, Solana (SOL) will move in a sideways trajectory over the coming weeks. Indeed, the coin prediction site is bearish on SOL, suggesting the coin will dip by May. “According to our current Solana price prediction, the price of Solana is predicted to drop by -7.35% and reach $ 140.99 by May 30, 2025,” the CC analysts say. “Per our technical indicators, the current sentiment is Neutral while the Fear & Greed Index is showing 53 (Neutral).”