Solana Price Prediction for Today, January 24 – InsideBitcoins

The Solana price prediction requires a rapid upward move, surpassing the 9-day and 21-day moving averages, to fend off bearish pressure in the market.

Solana prediction data:

• Solana Price Now – $259.0
• Solana Market Cap – $125.73 Billion
• Solana circulating supply – 486.64 million
• Total Solana supply – 592.64 million
• Solana Coinmarketcap Ranking – #5

Solana (SOL) has seen remarkable growth since its all-time low of $0.5052 on May 11, 2020, rising by a staggering +51,604.84%. Recently, the token’s price fluctuated between a low of $244.59 and a high of $269.81 over the past 24 hours, with its all-time high reaching $294.33. Despite falling -11.25% just five days ago, on January 19, 2025, SOL’s overall performance highlights its impressive recovery and upward trajectory since its debut.

SOL/USD Market

Key levels:

Resistance Levels: $305.0, $315.0, $325.0

Support Levels: $205.0, $195.0, $185.0

The daily chart of Solana (SOL/USD) reflects strong bullish momentum as the price maintains its trajectory in an ascending channel, reaching $252.69. The recent break above the 9-day ($239.18) and 21-day ($216.11) moving averages demonstrates the strength of the uptrend. However, the chart shows a rejection near the $258.33 level, which corresponds to the mid-range of the channel. This rejection suggests temporary profit-taking by traders. Despite the pullback, higher trading volume during recent bullish candles signals sustained buying interest, which could lead to a continuation of the uptrend in the medium term.

Solana Price Prediction: Solana (SOL) May Continue to Rise

Looking at the daily chart, the next major resistance level for SOL/USD lies at $280, corresponding to the upper boundary of the ascending channel. For the bullish scenario to remain intact, price must maintain support above the 9-day MA and ideally above the $260 level. A daily close above $290 would strengthen the case for further bullish momentum, potentially targeting the $305.0, $315.0, and $325.0 resistance levels in the coming days. Conversely, failure to break above $260 could result in a consolidation or minor retracement towards $240 or the 21-day moving average at $216.11, providing a potential buying opportunity for traders.

On the downside, the support levels at $205.0, $195.0, and $185.0 are key to maintaining the bullish structure. A break below this level could invalidate the ascending channel and attract additional selling pressure, potentially targeting the channel’s lower boundary. However, as long as the price remains above the 9 and 21 day moving averages and inside the channel, the overall sentiment remains bullish. Traders should monitor volume trends and price action near key support and resistance levels to confirm the market’s next direction.

SOL/BTC could move higher

The SOL/BTC daily chart shows that the price is currently trading at 0.0024 SAT, holding above the 9-day (0.0023 SAT) and 21-day moving averages (0.0021 SAT). This indicates that the bullish momentum is intact as the pair recently broke above the descending trendline. The resistance level at 0.0028 SAT and above is the next critical target for the bulls. A successful break above this resistance could propel the price even further, potentially testing higher levels in the broader trend. The increasing volume during recent bullish candles supports the possibility of a sustained upward move.

On the downside, the support level at 0.0020 SAT remains important. If price fails to break the resistance at 0.0028 SAT and retraces, maintaining support above 0.0023 SAT (9-day MA) will be crucial to avoid further bearish pressure. A break below the 0.0020 SAT support could invalidate the current uptrend and push the price towards the bottom of the channel. Overall, as long as price stays above key moving averages and maintains higher lows, the uptrend will likely persist.

However, with over 320,000 followers on The projection is based on price action, historical trends, economic activity, current narrative and phase of the cycle. For those tempted to dismiss SOL or compare it to their favorite assets, the focus here is solely on chart-based information.

My reading continues $ SOLgives the impression that the pressure is building and once released, could very quickly (<8 weeks) cost up to $600.

Price action and history, economic activity, story, cycle phase, all media.

Before you answer “SOL is trash or my bag is better”, don’t worry about it, just follow the charts. pic.twitter.com/JmM2axi5mZ

-Bob Loukas 🗽 (@BobLoukas) January 24, 2025

Alternatives to Solana

Solana daily chart analysis highlights the importance of the $190 support level and the $268 to $287 resistance range. Traders should watch these levels closely to confirm the next major move. Although the long-term outlook remains optimistic, short-term risks persist, especially given the influence of Bitcoin. Meanwhile, Wall Street Pepe, a coin attracting a lot of attention, saw $58.8 million in inflows over the past five weeks, signaling growing interest in the coins’ potential. This rise in popularity is not only driven by market trends, but also by the exclusivity and utility offered by Wall Street Pepe, including access to a private group of alpha traders.

Wall Street Pepe Set to Rise Due to Extreme Coin Volatility

Boasting influential support and a rapidly growing community, this token combines demand-driven growth with exclusive utility, such as access to a private group of alpha traders. Investors are recognizing the immense potential, as evidenced by $58.8 million in inflows over the last five weeks alone. Wall Street Pepe is not just another token, it is a gateway to the future of meme coin innovation and exponential gains. Don’t miss your chance to be part of this incredible journey. Secure your position now and join the wave of investors ready to earn big returns.

Visit Wall Street Pepe

Related news

Newest ICO Coin – Wall Street Pepe

• Audited by Coinsult
• Early Access Presale Cycle
• Private Trading Alpha for the Army $WEPE
• Staking Pool – High Dynamic APY