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Market analysts have shared timelines for Solana to reach ambitious price targets up to four digits.
Like other cryptocurrencies, Solana has faced harsh market conditions amid unfavorable macroeconomic conditions and a cautious approach among investors. However, bullish sentiments around the fifth largest crypto asset have persisted.
At the time of writing, Solana was trading at $132, having recovered from the $129 range on Monday. Still, the asset has lost more than 7% over the last month and less than 2% in the past seven days.
It bears mentioning that Solana’s current price is low in context with bullish analysis and predictions surrounding the asset. Several analysts have made ambitious speculations that SOL will grow substantially in the coming bull run, with most of them calling for a surge to $500 and $1,000.
Solana to $500
Crypto analyst Joji has speculated that Solana will hit $500 soon. The market watcher stated in a post that Solana is close to a price breakout, which is expected to push its price by 379%.
Joji cited an accumulation phase in Solana’s historical price chart, expecting an impending price surge. The analyst’s chart showed that SOL pumped 884% from a similar position in the 2021 bull run, with the expert anticipating a repeat in this cycle.
Although Joji didn’t state when he expects the price action, his chart suggests it will happen before the end of the year. SOL price skyrocketed from the same phase in August 2021 to its all-time high of $260 in November.
Notably, analyst Crypto Anglio shares the same opinion as Joji. The experienced trader stated that he sees Solana trading at $500 “sooner than everyone thinks.”
Anglio cited the bullish sentiments surrounding the Solana network, including its profound traction for memecoins and non-fungible token enthusiasts.
For context, the Solana network hosted the memecoin crazy earlier in the year with launchpad Pump.Fun leading the fury. The massive traction led to the meme deployer’s unprecedented revenue gains in the shortest time ever.
Also, the Solana network recorded the highest daily active addresses in blockchain history, hitting 5.5 million users on September 10. Anglio expects this elevated traction to push the SOL price to $500 in no time.
Solana to Hit $1,000
A few other analysts shared a more bullish disposition towards Solana, tipping it to reach $1,000 by 2025. Notable analytical expert Ali Martinez is among those with a higher bullish call for SOL.
Martinez cited a breakout from a bullish pennant in Solana’s 1W chart as a possible propellant to $1,000. At the current price, SOL would have to rally 758% to reach that price. Its market cap would also surge to $470 billion.
Two other analysts predicted a similar surge in Solana for 2025. YouTube crypto analyst DustyBC Crypto speculated that SOL would surge to $1,000 by June 2025, while RollBit partner Borovik asserted that the asset would see a similar price before the end of next year.
Grok Shares Solana’s Predictions
Meanwhile, X-owned (formerly Twitter) AI chatbot Grok suggested its price predictions for Solana in 2024 and 2025. According to data generated from the bot, Solana will test $500 before the end of the year if bullish sentiments persist on the network.
However, Grok noted that a delay in this bullish trend would see Solana target the $500 price tag in January 2025. The interactive AI stated that technical analysis indicates SOL trading at $515 if bulls remain in market command.
For 2025, Grok predicted that Solana would trade at $1,000. According to the bot, fundamental and technical analyses point to that price mark by late 2025 or early 2026.
It is worth noting that Solana has grown substantially year-over-year. The asset is up over 590% from its $19.65 price on September 17, 2023.