The Solana SOL cryptocurrency has faced some resistance at $200 lately, despite plenty of noteworthy developments around the Solana network. Solana (SOL) had two ETF launches this week: Bitwise’s BSOL ETF went live on Tuesday, and Grayscale’s GSOL ETF on Wednesday. While October was a down month for the crypto market, November is historically a rebound period. With coins projected to rally, could Solana SOL be the top pick to invest in to start November?
Federal Reserve Chair Jerome Powell’s economic warnings may have spooked investors away from Solana (SOL) and other crypto assets. Despite an interest rate cut this week, Powell stated that slow economic growth and rising inflation may present substantial challenges. Pair that with ongoing trade disputes, and you get a not-so-great market environment for risky assets like crypto. That could change come November, with analysts pointing to a bullish trend on the Solana price charts.
SOL looks like it’s setting up for a clean bullish comeback after that recent dip. It found solid support around the $180–$185 range this week and is starting to bounce from there with some steady momentum. The short-term trend is turning upward, and the asset could reach $190 as soon as next week. Pullback is expected at $196, but should SOL breach that, it could return to $200 by next weekend.
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SOL looks like it’s gearing up for a breakout phase, and analysts are changing their price forecasts to reflect that bullish momentum. Per CoinCodex analysts, SOL is forecasted to rise by 5.70% and reach $ 198.56 by November 29, 2025. By December, though, the platform sees SOL trading anywhere between $200 and $217. This could result in a potential return on investment of 14.42% compared to the current price.
Solana (SOL) is among the most resilient crypto assets in the market. Many anticipate the asset to hit new highs once market conditions improve. SOL is currently down by 34.5% from its all-time high of $293.31, which it attained in January of this year