Solana Price Prediction: SOL/USD Aiming for $200 by End of Uptober

Some folks are saying Solana (SOL) might just hit $200 soon, and it’s not just a random guess. 

More and more traders are jumping on the Solana train, bringing with them  positive buzz around it in the market. Retail traders are keeping a close eye to see if the price will actually take off. 

In this article, we'll break down why the recent Solana price rally will continue to strengthen and surpass $200.

Solana (SOL) has made a nice comeback from its recent dip, now trading around $173.83. Just a couple of weeks ago, in mid-October 2024, it was sitting around $160, but it’s jumped up by 9.9% over the past week. 

This price boost is part of  the “Uptober” rally and according to the crypto intel platform Santiment, Solana's development activity shot up by almost 11% in the second week of October, proving it's still a major player in the altcoin world.

Solana could be heading toward the $180 to $200 range by the end of the month, and if it pushes past that, we might see even bigger gains. 

A major reason for this impressive price boost is the Firedancer upgrade, which aims to make Solana's network faster and more scalable.

However, the bulls seem to be having a tough time kicking off the rally past its current level, which is a big risk for buyers who may end up giving up control to sellers.

Solana Short-term price prediction

If sellers step in, they’ll aim to drag the price back into the triangle and trap the aggressive bulls. When that plays out, the SOL/USDT pair could drop to the 20-day EMA, which is around $155. 

However, if the price bounces off the 20-day EMA, the bulls will likely make another attempt to push it past $172. If they pull it off, we could see the pair rally up to $189.

On the flip side, if the price falls below the 20-day EMA, the bears might try to push it all the way down to the uptrend line.

Strong Fundamental 

The Solana-based memecoin creation platform, Pump.Fun will be launching its native utility cryptocurrency in the upcoming days, Many are optimistic that the new token will drive user traffic, buyer volumes and trading activity on the Solana network. 

Since launching in January, Pump.fun has cranked out over 2.5 million Solana tokens, raking in $140 million in fees. 

It's also been the home for some of the wildest meme coin trends of the year, from celebrity-themed tokens to livestreams of risky stunts. 

Just this past Saturday, during a Twitter Spaces event, Pump.fun revealed its latest addition—a trading bot called Pump Advanced.

Pump Advanced is claiming to have a leg up on rival trading bots, saying it's better optimized for Pump.fun since it was built in-house.

 To sweeten the deal, they’re waiving fees for the first month to attract a crowd of degen traders.

Eclipse Set To Launch “Solana on Ethereum” L2 By October | HODL FM

Eclipse Labs aims to bring Web2 scale to Web3, merging Ethereum,…

HODL FM: The Wildest Ride in the Crypto MarketAbimbola Adu

Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.