24/7 Cryptocurrency News

Solana Price Eyes $40 Amid Impressive Rally And 300-Day Breakout

Solana's price movement has taken on a V-shaped recovery pattern and the recent breakout suggest a rally further to $40 and beyond.
Published by
Solana Price Eyes $40 Amid Impressive Rally And 300-Day Breakout

The impressive rally for Ethereum Layer-1 competitor Solana (SOL) continues as the altcoin registers another 12% gain on the daily chart. At press time, SOL is trading 11.97% up at $36.34 and a market cap of $15.2 billion.

Solana Price Gives A Bullish Breakout

Amid its current price rally, Solana has given a breakout above its 300-day resistance of $35, thereby opening the gates for a further rally to $40. Interestingly, the recent price surge has been backed by an impressive 150% in the 24-hour trading volumes.

Amid the current rally, the SOL price is also up by a staggering 80% over the last two weeks, thereby recuperating all the losses over the past year.

Looking at the daily chart, Solana’s price movement has taken on a V-shaped recovery pattern, rebounding from its low point at $17.4. This upward momentum is accompanied by a notable surge in trading volume, indicating strong buyer confidence and a collective push to drive the asset’s value higher.

Also, data from CoinGlass shows that more than $4.3 million in Solana short liquidations took place over the last 24 hours.

SOL Price Predictions

Amid the current breakout, the immediate target for Solana on the upside would be $40. Breaking past that would open up gates to further price rally up to $50 and beyond.

Financial giant VanEck recently published a report expecting a 10,600% price rally in Solana by the year 2030. In the optimistic scenario, VanEck expects the SOL price to touch $3,211.28 by the year 2030.

The report delves into a scenario in which Solana becomes the first blockchain to host applications with over 100 million users.

Furthermore, it outlines how Solana aims to narrow the gap with Ethereum in the future. VanEck, an active participant in the crypto space through its submissions of Bitcoin ETF applications to the SEC in recent years, may potentially introduce more products, including those related to Solana, in the coming times.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction

Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…

October 5, 2025
  • 24/7 Cryptocurrency News

Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement

Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…

October 4, 2025
  • 24/7 Cryptocurrency News

‘Every Crypto ETF You Can Imagine’: Expert Predicts Flurry of Filings After REX-Osprey’s 21 Applications

Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…

October 4, 2025
  • Bitcoin News

Robinhood Lists Strategy’s Bitcoin-Backed Stocks, Boosting Saylor’s BTC Credit Model

Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…

October 4, 2025
  • Bitcoin News

Bitcoin ETFs See 2025 Record Weekly Inflows of $3.2B as BTC Eyes New ATH

The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…

October 4, 2025
  • 24/7 Cryptocurrency News

Expert Predicts SHIB Rally as Shiba Inu Restores Shibarium After $4M Hack Shutdown

Shiba Inu’s Layer 2 network, Shibarium, has returned online following a $4 million exploit that…

October 4, 2025