Solana is now getting attention from different crypto circles. For the past few years, the crypto has been on a price hike.
You may have also heard about SOL in the previous days. Wondering whether SOL is a good investment? Come on let us find out together.
What is Solana Crypto (SOL)?
Solana is a blockchain platform that hosts scalable and decentralized applications. SOL is its native token. It was founded back in the year 2017 and is run by the Solana Foundation. The original authors of Solans are Anatoly Yakovenko and Raj Gokal.
To know whether Solana is a good investment you need to know its current price, the historical data, and the price predictions for the coming years.
SOL: Is this a good investment?
SOL Market Capitalization & SOL Current Price
The price of SOL at the time of writing this article is $176.58. Over the last 24 hours, the taken has had a 0.24% price hike. The price change of the coin in the last 7 days shows a -8.1%.
Solana has a circulating supply of 444,061,890 SOL and a market cap of $78,411,389,144.82. The SOL trading volume is $2,256,141,964.99.
The all-time high price that the crypto has had is $260.06 and SOL all-time low is $0.51. The price prediction of the token based on the historical data and price trend over the last 7 days is $572.95 + 229.19 (the latter one is an expected price hike).
Over the course of the last 30 days, the token has had 18 / 30 green days which makes up to 60%. The 50-day SMA of the token is $126.58 and the 200-day SMA of the token is $73.72. SOL has a 14-day RSI of 58.30.
SOL Market Sentiments
The Fear and Greed Index shows 73 Greed points. SOL has a bullish sentiment with a 20.63% volatility. Note that, it is important to analyze the market trends and the market sentiments. You need to pay attention to the market sentiment indicator and see whether the crypto is having a bullish or bearish sentiment in the market.
If the coin has a bullish sentiment it means that it is ideal to buy it or invest in it. The bullish sentiment indicates that the value of the coin is currently high and is expected to go high in the coming days.
Also, analyze the Fear and Greed Index. If fear dominates the index, it means that the coin has a drop in value and investors are not keen on trading it. If the index is dominated by Greed, it shows that the coin has more demand in the market.
SOL Price Predictions
SOL Price Prediction 2024
In 2024 March, SOL is predicted to reach as high as $259.70 and have a minimum drop of $147.97. The token can have an average trading cost of $217.34. It has a potential ROI of 47.5%
The SOL price prediction for the year 2024 is between $-23.83 and $37.72 with the first as the yearly lower end and the latter one the yearly higher end. The average trading price is forecasted to be $99.27 and a potential ROI of -78.6%.
SOL Price Prediction 2025
Crypto experts suggest in 2025 SOL will have a maximum price of $390.80 and a minimum price of $334.53. The token will have an average trading price of $346.21. The forecasted ROI is predicted to be 122%.
SOL Price Prediction 2030
SOL price prediction for 2030 is currently between an annual low end of $2,164 and an annual high end of $2,620. It is forecasted to have an average trading cost of $2,242 and a potential ROI of 1388.2%
SOL Price Prediction 2050
In the year 2050, the crypto token will have an average trading cost of $97,612. This can drop to $88,607 and can hike to $118,166. The current forecast on potential ROI is 67020.7%.
What should you do?
Considering all these, SOL seems to be a good long-term investment. However, note that these current price predictions show in the year 2024, the crypto token is expected to have a further price drop.
If you are looking at it as a long-term investment it is ideal that you invest in SOL. However, if you are looking at SOL as an investment only for the year 2024 you need to think well before investing.
