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Solana Price Prediction: SOL Expected to Rise 30%, Increases from $23 to $30

On July 14th, the price of Solana (SOL) created a range extending from $25.12 to $29.80.




In the following week, SOL experienced a pullback, touching the support level at $25.21, resulting in a loss of nearly 8%.




During this decline, SOL established a local bottom around $22.70, and the Solana price began to recover, bouncing back from $23.97 to $24.49. While buying at this region would present a good opportunity, it is unlikely that SOL holders had a chance to accumulate.




Currently, the rebound from the $25.41 position in Solana is expected to continue the upward trend in SOL price. The target of this move is a 10% increase, with the anticipated reach of the midpoint of the range at $27.50.




In a highly bullish scenario, Solana may even sweep through the high point of the range at $29.80 from the $22.70 level, resulting in a total gain of 30%.






SOL/USDT 1-day chart, Source: TradingView.




Note that if the Solana price creates a low below $22.76 within a 4-hour or longer time frame, the bullish outlook will be invalidated. Such a development might lead SOL to target seller liquidity below the volatile low of $21.34 on July 13th.




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