Solana price prediction 2023 and beyond

By:

Charlie Hancox

Charlie is a Financial Writer for Invezz. He covers commodities, cryptocurrencies, and breaking news. Prior to joining Invezz he helped grow Crux Investor into the fastest-growing... read more.

Updated: Oct 2, 2023

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Solana is one of many cryptocurrencies that aim to dethrone Ethereum as the largest smart contract platform in the world. Explore the latest Solana price movements and compare price predictions from top crypto forecasters.

Solana price predictions

Most Solana price analysis forecasts the average price to keep increasing at a steady rate over the next few years.

The most common short term Solana price prediction is for the SOL price to increase above $30 and towards $50. In the long term, SOL forecasters concregate around a Solana price prediction in excess of $100.

Here is our estimated Solana price forecast, based on an aggregate of expert predictions.

Expert Solana price prediction

A rough average of all the expert predictions suggests Solana’s price could hit over $100 in the next decade, though some maximum price predictions are more bullish. Here is a selection of some of the most noteworthy views.

Solana will be the most prominent alternative to Ethereum and Ethereum layer 2s in hosting DeFi. This is a huge market to be captured and SOL price may reflect this”

Joshua Fraser, Origin Protocol

We think that SOL is one of a few smart contract-based blockchains that have the technical architecture that will be difficult for Ethereum to compete with on the basis of transaction speed and transaction cost. For smart contract usage, especially in DeFi, these factors are a critical success indicator,”

Gavin Smith, Panxora Crypto

There is a lot of potential here and I expect steady growth, but this may well come from new users rather than stealing market share,” Levy is quoted as saying by numerous crypto news outlets.

Paul Levy, University of Brighton

Solana scales better than Ether and already has staking.”

Daniel Cawrey, Cypherpunk Holdings

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Solana price prediction 2023

What will Solana be worth in 2023? In 2023 the SOL market cap is expected to grow and take the SOL price above $20 as a result. After a long crypto bear market, 2023 could see the start of a turnaround for the Solana foundation.

This Solana price prediction is based on the fact that by the end of 2023, the total size of the crypto market is expected to reach $11 trillion, according to analyst Benjamin Cowen’s use of logarithm regression.

Solana (SOL) price prediction 2024

What will Solana be worth in 2024? The average Solana (SOL) price prediction expects the SOL token to reach $30, as it continues to consolidate the gains achieved in 2023.

Solana price prediction 2025

What will Solana be worth in 2025? In 2025, some analysts expect the Solana price to surge towards the $50 mark.

This Solana price prediction is also based on the idea that the Solana network could rival Ethereum. If it were to follow a similar price trajectory, the average price would be hitting top gear around 2025.

Solana price prediction 2030

What will Solana be worth in 2030? Expert predictions for Solana’s price from the low hundreds to as much as $20,000 by 2030.

The most optimistic Solana coin price prediction forecasts an average price in the thousands, but that’s highly unlikely.

Solana price prediction estimates this far in advance are extremely speculative, as there are so many unknowns. Solana price movements are difficult to predict even in the short term, and there are so many potential technological advancements over the next decade that could change the picture.

What affects the Solana (SOL) price?

Solana prices are affected by a wide variety of factors, both fundamental and technical. From a fundamental point of view, the Solana blockchain can offer powerful decentralised finance platforms and host NFTs, making the Solana network an enticing place for developers to build decentralised apps.

Those long term reasons influence the SOL coin price, but so do to more short term technical factors that are based on the performance of the Solana price chart.

The fundamentals

The most important fundamental factor with Solana is its potential to offer a better platform than Ethereum. If it can attract developers to build on the Solana blockchain, by offering more flexibility and faster speeds, then it could experience a similar price path to its better-known rival. That vision is at the heart of most optimistic SOL price predictions.

The flip side to that is whether its security can hold up to scrutiny. There have been a couple of high profile Solana network outages and it has identified some bugs within its system. With so many competitors, beyond just Ethereum, a failure of the Solana technology would have a significant impact on the SOL token price.

The technicals

Technical analysis is the process of reading candlestick charts that show how Solana’s price has changed over time, and using that information to try to predict the future. While the fundamentals tell you whether Solana is a good project or not, the technical factors can demonstrate when the right time to purchase is based on the going market price of SOL.

One major telltale sign of Solana price action is trading volume. In the world of crypto, which is largely driven by market sentiment, trading volume often correlates with an upward move in a coin’s price, meaning that if you lack the ability to carry out a thorough technical analysis of the data, you can still get an idea of what is happening and make a rough Solana price prediction.

Key levels to watch

Having already reached an all-time high of $260 in 2021, one of the most significant long term resistance levels is $300. In the short term, the SOL coin price traders should look out for is $30, which has operated as a resistance level in recent times.

Once that initial psychological barrier is breached, it seems likely that crypto investors will pile in and $50 will be the next target in mind.

As for support levels, Solana has managed to consistently trade above $20 for a significant portion of 2023. It takes a lot of trading volume to break through support or resistance levels, though once they are broken, they flip to become the opposite, and more dramatic SOL price swings become likelier to occur.

Solana (SOL) price history

The last half of 2021 is where Solana saw its biggest gains. It’s value increased by over 800% before hitting its highest ever price at around $250. However, it has seen a slow decline back below $100. The chart below shows how it’s price has changed over time.

Is SOL a good long-term investment?

Solana has been one of the most eye-catching crypto stories of recent times, surging from nowhere to become one of the most valuable cryptocurrencies. The coin has significant momentum behind it, and given its potential uses and the large community it has established in such a short time period, it could be a good long-term investment.

If you believe blockchain technology is set to revolutionise traditional finance (TradFi) and the rest of the online world, Solana could be a good long-term play thanks to its fast transactions and high scalability. Spectators will just be hoping the network doesn’t go down again because this would lead to serious doubts regarding its security.

Key takeaways

So, broadly, expect the price of SOL to rise over the next few months, followed by a bull run alongside the rest of the crypto market to over $25. Thereafter, $20-$30 in 2023, $40 in 2024, $75 in 2025, and over $100 by 2030 are all realistic price forecasts for SOL.