Solana At 1,200 USD By 2025? Analysts Explain Why This Is Possible

• Analyst Ali Martinez predicted that Solana’s price could rise to $950, reflecting patterns from 2021.
• Raoul Pal predicted that Solana would rise to $1,200 by 2025, driven by a bullish market cycle and increased network activity.

Despite a broader market correction, Solana [SOL] has shown resilience by holding its horizontal support level. This price action has led to the formation of higher lows, indicating a potential bullish trend.

Solana Shows Bullish Trends

Well-known analyst Ali Martinez shared his bullish forecast for Solana on X (formerly Twitter). He noted that the altcoin’s current price movements were reminiscent of its behavior in 2021. The Relative Strength Index (RSI) showed similar low levels during both periods before a significant breakout. In mid-2021, this led to a rise in Solana price.

At press time, the RSI was again at low levels, indicating the possibility of an upcoming uptrend.

Martinez’s analysis, extrapolating from historical patterns, predicted a target price of $950 for Solana. He stressed that technical indicators, especially in oversold conditions, supported the likelihood of an uptrend.

Source: X

Raoul Pal, a personality in the crypto space, has also expressed his confidence in Solana’s future price performance. Pal predicted a significant price increase in 2025, especially during the expected “crypto summer”.

He considered a 100% price increase to be conservative and expected a typical increase of around 300%, which would bring Solana’s price to around $600.

Pal further speculated that Solana could reach $1,200 during a full market cycle, with the potential to exceed $2,000. For a shorter cycle, he predicted a price of around $750.

Current market performance and activity

At press time, SOL’s price was

$142.69 up 2.53% in the last 24 hours, but down 3.45% in the past week. Solana’s trading volume in the last 24 hours is $3,767,161,926.As previously

reported by AskFX Solana’s network activity increased significantly in Q2 2024. Transaction fees and revenue skyrocketed to exceed $26 million – a 42x year-on-year increase.Is your portfolio green? Check out the SOL profit calculator

In addition, the total SOL trading volume reached an impressive $292 billion, almost seven times more than the same period in 2023.

This growth is due to the growing Solana ecosystem and the launch of the SOL ETF.