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Solana Forecast: Can the SOL Token reach a value of $100 soon?
Solana (SOL) has seen a strong price increase in the last few days, benefiting from Ripple's victory against the SEC. The SOL token, which had suffered heavy losses in the previous months, recorded a significant increase. But what is the forecast for the Solana price in the coming months? At the end of June, the Solana price was below $16. In particular, the crypto crash at the beginning of the month had damaged the SOL price. However, the price rose sharply again in the first weeks of July. In mid-July the price reached $22. After Ripple’s victory against the…
Solana Forecast: Can the SOL Token reach a value of $100 soon?
Solana (SOL) has seen a strong price increase in the last few days, benefiting from Ripple's victory against the SEC. The SOL token, which had suffered heavy losses in the previous months, recorded a significant increase. But what is the forecast for the Solana price in the coming months?
At the end of June, the Solana price was below $16. In particular, the crypto crash at the beginning of the month had damaged the SOL price. However, the price rose sharply again in the first weeks of July.
In mid-July the price reached $22. After Ripple's victory against the SEC, the price experienced a strong upswing, which brought the Solana price to $29. However, there were slight losses in the last few days and the price fell back to a value between 25 and 26 dollars. Nevertheless, the latest developments give hope for a positive Solana forecast in the coming months.
The SOL price has risen massively in the last few weeks. This is mainly because Solana experienced several strong crashes in November with the FTX crisis and in early June with its classification as a security by the SEC. The SOL price then increasingly recovered. The ruling in the legal dispute between Ripple and the SEC led to an enormous increase in the XRP price, from which the SOL token also benefited. The hope is that Solana will not be classified as a security.
The forecast for the Solana price in the coming weeks and months is also promising. The momentum of the last few weeks is extremely positive and suggests a positive long-term forecast for Solana.
The expected approval of the Bitcoin ETFs of large asset managers could not only cause the Bitcoin price but also the prices of altcoins to rise significantly. This would also have a positive effect on the Solana price and forecast.
The Solana price could rise significantly again by the end of the year, especially if the Bitcoin ETFs are approved. The decision in the legal dispute in favor of Ripple could also have a long-term positive impact on the Solana price. A rise above $50 by the end of the year is entirely possible. However, a price increase towards the $100 mark still seems somewhat optimistic at the moment. However, this could become possible in the following months after the Bitcoin Halving in 2024.
Overall, we assume a Solana forecast of $45 to $65 for the coming months.