Predicting Solana's 200% Rally: When Will SOL Reach its Peak?

• Solana (SOL) Experiences Notable Market Correction
• SOL's Performance in 2023
• Solana's All-Time High: A Retrospective and Forward Look
• When Can Solana (SOL) Reclaim its All-Time High?
• Other Predictions for SOL

Solana (SOL) Experiences Notable Market Correction

Like many in the broader market, Solana$104 5.03% (SOL) has encountered a significant market correction within recent days. The weekly charts display a 12.8% decrease in the asset's worth, with a 13.9% and 27% decline observed in the 14-day and monthly charts, respectively. However, SOL's price experienced a 3.2% increase in the last 24 hours. This surprising jump coincides with the project's revelation of a new token extension adhering to the SPL standards. Despite these fluctuations, the asset has shown a solid performance, boasting an increase of almost 280% since the start of 2023.

SOL's Performance in 2023

Solana (SOL) emerged as one of the top-performing crypto assets of 2023, managing to outshine established assets like Bitcoin$42,260 -0.64% (BTC) and Ethereum$2,315 -2.42% (ETH). At one stage in 2023, SOL's price had risen by close to 1000% since the start of the year. This remarkable growth is even more impressive, considering that SOL was one of the assets most affected by the collapse of FTX$3.28 -5.38%. The now-defunct exchange had a bullish outlook on SOL and held over $1 billion worth of tokens. Despite these setbacks, SOL appears to be regaining its lost ground from the FTX crash.

Solana's All-Time High: A Retrospective and Forward Look

SOL reached its all-time high of $259.96 more than two years ago, in early November 2021. Despite currently being more than 66% down from this peak, returning to this 2021 high would signify over 197% growth.

When Can Solana (SOL) Reclaim its All-Time High?

Changelly predicts that Solana (SOL) could surpass its all-time high by August 2026, approximately two-and-a-half years from now. The platform forecasts a maximum price of $309.85 for SOL by December 2026. Such a price point signifies a growth of over 255% from current levels.

Other Predictions for SOL

Telegaon also foresees SOL to reach its all-time high in 2026, though the platform does not specify the exact month. Telegaon projects SOL to hit a maximum price of $276.39 in 2026, representing a growth of over 217%.

Edited by Jonathan Stoker