Will Solana be able to break through the $160 level? Buy or sell SOL — expert advice

Last time Solana (token SOL) shows greater volatility in price movement. The reason for the recent fluctuations is the shaky balance ⚖️ between the “bulls” 🐂 and “bears” 🐻. They take turns periodically moving the coin in the direction they want.

🛑 I wonder what prospects Solana has 📊 ? A working way to quickly figure out what to do with cryptocurrency is: get an answer from an experienced consultant. He will explain the prospects of the token clearly and free of charge. 📈 to help make money 💵.

Forecast Solana from Cryptopolitan

The Cryptopolitan portal has one of the most optimistic forecasts regarding Solan 🌞. Analysts believe that the coin is not just destined to pass the $160 mark by the end of 2024. She will get to $500 🚀. This is due to the growth of the token ecosystem, the number of dApps and other projects based on it.

Cryptopolitan’s forecast for the SOL cryptocurrency for 2030 is even more impressive 👀. Analysts believe: the coin will trade at $1000 or more if it continues to innovate 1️⃣, solve scaling issues 2️⃣, and receive even wider recognition of its infrastructure 3️⃣.

The SOL blockchain has problems from time to time. The reason is an overloaded network ⚡. According to some reports, it is caused by the manipulations of large players who yest competitors. At the same time, less suspicious users are convinced that overload is a natural result of too many transactions due to the unexpectedly high popularity of the coin.

🛑 Even in such realities, Solana’s prospects are still very impressive 👍. Developers quickly adapt to new challenges. Their goal is to become leaders 🥇 in the areas of DeFi and Web3.

In the United States and most other countries of the world, Solan’s reputation is still at its best. Investors, enthusiasts and developers completely trust the token. Their forecast is further growth.

🛑 According to Cryptopolitan, from Solana awaiting rise and expansion. All this will make the coin even more advanced. Even in times of uncertainty.

PSolana forecast for 2024. What does investing.com think?

According to the monitoring of the leading financial application investing.com, SOL can rise in price to $250 and even go higher 👆. They say: the coin is among the top most popular. 43% of transactions go through it stablecoin.

Analysts note the fact that Solana managed to oust Etherium. SOL has a simpler single-layer network. This allows crypto exchanges to:

• 🛎️ ensure high speed of financial transactions;
• 🛎️ minimize commissions.

Cheap transactions have led to a rise in the number of so-called memcoins on the platform Solana. Some of them are 100% scam. But the turnover still exceeded the maximum in the last 2 years ✅. During this period, the token even broke through the $200 mark. Its capitalization reached $77 billion.

The rise gave the cryptocurrency a chance to take 5th place on the list of all crypto assets. Sometimes she manages to rise higher – to 4th. Average daily turnover is in 5th place. SOL is bypassed only:

• ⭐ BTC.
• ⭐ ETH.
• ⭐ USDC.
• ⭐ FDUSD.

The sharp growth of Solan began to slow down the work of the entire network. Therefore, the platform is working hard on Timely Vote Credits. This is a mechanism that will reward transaction reviewers for speed. The result will be a solution to the problem of the network as a whole and a positive impact on the cryptocurrency rate.

🛑 Investing.com experts say: SOL has been in a bearish trend for a long time 🐻. But it is already showing a reversal trend ↩️. In mid-May, the coin reached $160. Now there is another recession in the market. But still within normal limits 👌.

Ryan McMillin’s forecast for Solan

CIO Merkle Tree Capital believes that by November 2024, the SOL coin will be trading at $400. The main driver of the price movement will be meme coins dedicated to the presidential elections in the United States.

🛑 Tokens Jeo Boden (BODEN), Doland Tremp (TREMP) have already helped Solana surpass Ethereum in terms of trading turnover. This trend will continue for several months 🆗.

The demand for meme tokens began at the same time when Donald Trump himself began to strongly support the cryptocurrency. This gave the market an incentive to grow and had a positive impact on the SOL ecosystem.

Ryan McMillin says: the coin will rise to $400. In his opinion, one of the additional success factors will be the Fed’s actions to strengthen the level of the economy 💪.

The analyst is convinced: investors are increasingly trusting digital assets. Even a memecoins play a role despite their speculative nature. Thanks to humor 🤡 they draw attention to the cryptocurrency market as a whole. New investors come there 👣.

McMillin is convinced: Solana did an excellent job with the stress test in the form of a critical increase in transaction volume. In his opinion, the coin will easily take 3rd place 🥉 in terms of the total value of financial assets.

ETF Solana – possible or not, will the price rise

The American regulator has authorized the issue of Bitcoin and Ethereum ETFs. The time has come for other cryptocurrencies. Solana has one of the highest chances of being part of the next exchange traded fund. This will give investors a regulated way to invest in cryptocurrencies. There will be more of them. This means that SOL will continue to rise in price.

So far, the owners of the network have not applied for an ETF. But the regulator approved the BTC ETF and the ETH ETF. This increases the level of enthusiasm.

Solana pushed exchanges

The DefiLlama project states: 5 protocols based on Solana are among the top ten most traded protocols on decentralized exchanges. Especially noted:

• 🟢 Uniswap.
• 🟢 PancakeSwap.

There, the daily volume was $1.6 billion and $616.3 million.

SOL-based protocols tend to gain attention when memcoins grow in popularity. The SOL ecosystem has become the main platform for speculation in such assets. This is very good news for Solana. If its technologies are used to create popular and effective crypto projects, it will go up. 

Is Solana worth buying?

While the SOL coin is in the phase of confrontation 🤼‍♂️ between “bulls” and “bears”. The fragile balance is shifting non-stop. Therefore, entering the market can be risky.

SShould I buy Solana now? If you plan to make money quickly, there is a huge risk ❗. The coin, although volatile, is still in a fairly stable corridor.

If the goal is mid-range, Solana works well. She has already reached $200. There is no reason for this not to happen again in the future.

If the forecasts of some experts come true, by the summer of 2024 the coin will begin to show rapid growth ⬆️, and in the fall it will approach a 2.5-fold increase in price relative to the current value.

Of course, in the long term the token is even more profitable. There is no limit to its growth. But only on condition that the creators continue to improve and develop.

It is very optimistic to expect constant progress without any mistakes. But if everything goes well, the coin can significantly increase in value and fill the pockets of holders with money 💵.

It is important to monitor the market closely. You need to monitor news not only about Solana, but about other cryptocurrencies.

A good investment option is memcoins. If they start to show explosive growth, Solana will definitely follow them. This could be a short-term jump and fixation at a new price level. In both cases there is a chance to make money.