Cardano

Rally

Solana

Time

<![CDATA[<figure class="image"><img src="https://cimg.co/news/126646/334411/sol.jpg" srcset="https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_1791_742.jpg 1791w, https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_1200_497.jpg 1200w, https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_900_373.jpg 900w, https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_720_298.jpg 720w, https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_600_249.jpg 600w, https://cimg.co/news/126646/334411/responsive-images/sol___media_library_original_300_124.jpg 300w" width="1791" class="content-img" alt=""><figcaption>SOL Chart / Source: TradingView</figcaption></figure>Solana (SOL) is the second-best performing cryptocurrency in the top 100 by market capitalization on Thursday, having gained an impressive more than 7% on the session to hit its highest level since July above $25.The cryptocurrency&rsquo;s latest pump, which has seen it rally over 45% from its September lows under $17.50, has seen it reclaim a market cap of more than $10 billion.In the process, <a href="https://cryptonews.com/coins/sol-solana/">SOL</a>, the cryptocurrency that powers the high-performance smart-contract-enabled layer-1 Solana blockchain, has overtaken the market caps of rivals Dogecoin (DOGE) and Cardano (ADA) to rank as the seventh largest cryptocurrency by market cap.The cryptocurrency collapsed to as low as $8 per token, marking a more than 95% pullback from its all-time high price around $260 back in 2021 at the time following the <a href="https://cryptonews.com/news/breaking-ftx-files-for-chapter-11-bankruptcy-sam-bankman-fried-resigns-crypto-prices-crash-instantly.htm">collapse of ill-fated crypto exchange FTX</a>.Ex-FTX CEO Sam Bankman-Fried had been a major advocate for Solana, and his now failed hedge fund Alameda had been a major liquidity provider within Solana&rsquo;s Decentralized Finance (<a href="https://cryptonews.com/news/defi-news/">DeFi</a>) ecosystem, hence the spectacular loss of confidence in the cryptocurrency following FTX&rsquo;s demise.But Solana has made a miraculous comeback in 2023.Not only is its price (last just above $25) up over 200% from last year&rsquo;s lows, but its ecosystem has seen an impressive rebound in liquidity this year.As per <a href="https://defillama.com/chain/Solana">DeFi Llama</a>, the total value of crypto locked in Solana-based smart contracts remains in an uptrend and, at $1.1 billion, has more than doubled since the start of the year.<h2 id="strong-price-prediction-where-next-for-solana-sol-strong">Price Prediction &ndash; Where Next for Solana (SOL)?</h2>The latest bounce in Solana likely has more to do with optimism about upcoming spot Bitcoin ETFs than is does to do with any Solana-specific catalysts.With Solana&rsquo;s 2023 uptrend still strongly intact, if the cryptocurrency can break above resistance in the $24-25 area on a sustained basis, the door should be open for a fast run higher towards a yearly high above $32.That could mean quick and easy gains in the region of 27%.<figure class="image"><img src="https://cimg.co/news/126646/334410/sol.jpg" srcset="https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_1791_742.jpg 1791w, https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_1200_497.jpg 1200w, https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_900_373.jpg 900w, https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_720_298.jpg 720w, https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_600_249.jpg 600w, https://cimg.co/news/126646/334410/responsive-images/sol___media_library_original_300_124.jpg 300w" width="1791" class="content-img" alt=""></figure><h2 id="strong-time-to-buy-sol-strong">Time to Buy SOL?</h2>Solana&rsquo;s strong bounce from its 200DMA earlier this month suggest it&rsquo;s the bulls strongly retain an upper hand.And amid lots of reasons to be optimistic about Solana&rsquo;s long-term adoption prospects, analysts are getting more bullish on the cryptocurrency.In a recent video by anonymous <a href="https://www.youtube.com/watch?v=XKpKVHr3_nk">YouTube channel InvestAnswers</a>, the host told his 447,000 viewers that he &ldquo;sees a number of different tailwinds for Solana&rdquo;, before listing Solana Pay, which was recently integrated into Shopify and the newly launched Solana phone called Saga and its associated decentralized app store.InvestAnswers also noted Solana&rsquo;s cost efficiency, scalability, great tokenomics and its recent <a href="https://cryptonews.com/news/solana-price-prediction-as-excitement-around-visa-partnership-grows-can-sol-reach-1000.htm">Visa partnership</a> as other reasons why it is positioned to perform well in the coming years.For these reasons, popular crypto analyst and trader DCA Crypto predicted in a video released on Thursday that Solana (SOL) will break its all-time highs at $250-260 and potentially even get as high as $400 in the upcoming bull market.<figure class="media"><oembed url="https://www.youtube.com/watch?v=Th3HtCEB8uM"></oembed></figure>That would mark gains of as much as 16x versus Solana&rsquo;s current price at just over $25.If DCA Crypto is correct, now would be a great time to buy SOL.DCA Crypto noted that he plans to take a substantial amount of profit ahead of the $250-400 zone being hit, however, to ensure that he is in profit.
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Solana Price Prediction as SOL Overtakes Cardano as Popular Trader Says Huge Rally is Coming – Time to Buy?

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