Could Solana hit $700 Under Trump?


Solana (SOL) is currently trading at $164, nearing a key resistance level of $171. Let’s break down what could happen next for SOL and the factors driving its potential price movements in this Solana price prediction.

  1. Resistance Levels to Watch



    • SOL is testing the $171 mark. If it breaks through this resistance, it could climb higher.
    • The next major resistance is at $186.32. If this level is breached, Solana might push toward $209.90, a price not seen since March.
    • Failure to break $171 could see SOL struggle near this level, with potential pullbacks.

  1. Price Action Overview

    • Solana has gained 11% from its recent low of $138.
    • There's strong resistance around $154, a historically difficult level to break. Whales (large holders) may secure profits here, causing temporary dips.
    • If SOL can break through $156, traders are eyeing the $200 mark as the next target.
    • A rejection at $160 could result in a slide back to $149, with $135 being the next significant support level if selling pressure intensifies.
Also Read: JasmyCoin Price Prediction 2024-2030: Will JASMY Price Go Up To $0.10?

Solana's Growing Adoption and Active Users


  • Solana’s adoption has surged, with over 100 million active addresses recorded this year.
  • This marks a significant milestone for the network, showing its growing influence in the crypto world.
  • Many experts predict that Solana ETF applications could be approved in the next six months.
  • This would likely bring institutional investors into the Solana ecosystem, further driving up demand and price.

Political Influence and Predictions

  • Some analysts suggest that a Trump re-election could create a favorable environment for crypto investments, including Solana.
  • Trump’s policies often focus on deregulation, which might boost digital assets like SOL.
  • Geoffrey Kendrick from Standard Chartered Bank predicts SOL could exceed $700 under a Trump administration, a 400% increase from current levels.
Why Solana Might Thrive
  • Solana’s fast transaction speed and support for decentralized apps (dApps) make it an attractive option in a crypto-friendly environment.
  • If a Solana ETF is approved, it could further propel its price, especially with growing institutional interest.

A Bullish Future?

Solana is in a critical phase, with key resistance levels in play. Breaking through $171 and $186 could open the doors to new highs, while institutional interest and political developments may further support SOL’s price. Keep an eye on both short-term price movements and long-term catalysts for Solana’s growth.

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