- Solana has gained 45% in the past month, but experts predict it will skyrocket over the next month, gaining 227% to trade at $615, its highest price ever.
- Analysts point out that Bitcoin’s upcoming halving is going to boost altcoins as investors seek alternatives from the top crypto, and SOL has stood out over the past six months among the altcoins.
Solana has had an outstanding bull market. Just six months ago, SOL was trading at $19, but since then, it has embarked on a historic price surge that has led to 10x gains. Today, it trades shy of $190, and according to experts, its best days are still to come in the current bull rally.
Solana trades at $187.36 at press time following sideways trading over the past day. Investors’ interest has cooled after an exciting start to the year, with the volume dipping 15% to $3.6 billion. In the past week, SOL has gained marginally despite volatility, leading to a two-week high of $203 on Monday.
Solana has had a stellar start to the year; since January, its price has doubled from $96 to over $200. While its momentum may have slowed down in the past two weeks, experts believe its best days will come in the next few weeks.
According to Coincodex, a crypto data platform, SOL will spike 227% in April to hit $615.
Coincodex says technical indicators show it’s an excellent time to buy SOL before its price surges. It noted:
According to our current Solana price prediction, the price of Solana is predicted to rise by 227.58% and reach $ 615.13 by May 4, 2024. Per our technical indicators, the current sentiment is Bullish, while the Fear & Greed Index is showing 70 (Greed). Solana recorded 19/30 (63%) green days with 12.18% price volatility over the last 30 days. Based on the Solana forecast, it’s now a good time to buy Solana.
Solana to Set New All-Time High in April
At $615, Solana would have set a new all-time high. Its current record is $259.62, which was set on Nov. 6, 2021.
Changelly, a crypto trading platform, concurs. It predicts SOL to double from its current price by the end of the month and kick on in May. Changelly predicts SOL will end April at $580 and set a monthly high at $626 on the first day of May.
Changelly notes that the price spike over the past six months has attracted new investors; while they came for the price pumps, they stayed for the technology, it adds.
Both predictions are highly bullish. However, they are not unfounded. Unlike in previous bull rallies, Solana is backing its rise with corresponding growth in its ecosystem this time.
Solana’s ecosystem is home to BONK and WIF, two meme coins that have set records for gains. The latter shot up from $0.36 just six weeks ago to $3.81 at press time. At $3.8 billion, WIF is now the world’s third-largest meme coin, shooting past Pepe recently, as Crypto News Flash reported.
Additionally, several new projects have launched on Solana this year, and several more are set to debut in April.
