Solana (SOL) continues its bullish trajectory, hitting a new all-time high of $262.93 earlier today. The asset’s price has dipped by 1.7% since its peak. SOL’s price is up 8.9% in the daily charts, 24.2% in the weekly charts, 30% in the 14-day charts, and 57.4% over the previous month. SOL’s price has also risen by 379.2% since November 2023. The asset was one of the best-performing cryptocurrencies of 2023, rising by more than 1000% at one point.
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Why Is Solana Rallying Today?
SOL’s recovery over the last few years is truly commendable. The asset’s price fell to below $10 after the collapse of FTX in November 2022. SOL has come quite a long way since its 2022 lows.
SOL’s latest rally is likely due to Bitcoin (BTC) hitting a new all-time high of $99,261.30 earlier today. BTC’s rally is probably due to talks about Donald Trump possibly electing a “crypto czar.”
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The Asset’s Price For November 30, 2024
According to CoinCodex, SOL’s price will dip over the next few days. The platform anticipates the cryptocurrency to trade at $256.32 on Nov. 30, 2024. Despite the bearish short-term outlook, CoinCodex predicts SOL to gain momentum early next year. The platform predicts the asset will breach the $280 mark on Jan. 4, 2024.
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Changelly presents an even more bearish outlook for Solana (SOL). The platform expects the asset to face a significant correction over the coming week. Changelly anticipates SOL to trade at $240.97 on Nov. 26, 2024. The platform has yet to be predicted for Nov. 30, 2024.
There is a possibility that Solana (SOL) will continue its upward momentum throughout the month. There is a possibility that Donald Trump will elect a “crypto czar.” The development may lead to an extended bull run under the new regime.