Today, the price of Solana has increased by 1.5%, reaching $96.64; moreover, the cryptocurrency market as a whole has seen a spike of 0.5% over the course of the last twenty-four hours.

Even still, the value of SOL has continued to decrease by 5% in a week and by 17% in a fortnight, despite the fact that the alternative cryptocurrency has maintained a very robust rise of 32% in a month.

In addition, these increases occur at a time when a prominent forecaster has forecasted that the price of Solana would approach $750 before the year 2024 comes to a close.

This is a big assertion, but considering that SOL is still experiencing a great deal of momentum and fundamentals that are becoming better, it is almost inevitable that the currency will continue to rise.

It is anticipated that the price of Solana would reach $750 before the year 2025.

After a few weeks of declines, the chart of SOL is gradually starting to appear more optimistic. However, it may still take some time for the currency to experience significant rebounds in price.

A little rise in demand and purchasing pressure has just been seen, as shown by the fact that its relative strength index (RSI) has just climbed over the 50 mark. This trend may continue for the remainder of the week.

Another indication that SOL is still more of a "buy" than a "sell" at the moment is the fact that its 30-day moving average (yellow) has been advancing higher above its 200-day average (blue) over the course of the previous few days.

In point of fact, the support level for SOL (green) retains a significant amount of strength, which suggests that any more losses from this point forward will not be that significant.

On the other hand, the trading volume of SOL over the course of twenty-four hours is still above $1.8 billion, a number that demonstrates that there is a continued and substantial interest in the token.

As a further indication of this interest, recent transfers have shown that a number of significant quantities of SOL have been transferred between unknown wallets in the last few days.

Even while the approval of many Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) has become a "sell the news" event, it can only be helpful for the cryptocurrency market in the medium and long term, helping to drive up demand overall.

This will include demand for SOL, which, according to the forecasts of some experts, will be supported by its very own exchange-traded funds within the next roughly year.

As a result of the addition of Solana's fundamentals, which are becoming increasingly robust and have witnessed a significant increase in the utilization of NFTs, it is becoming increasingly likely that the price of Solana will experience significant gains this year.

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By the year 2025, it may not hit $750, but it could go above its present all-time high of $259.