Solana Price Forecast As SOL Rises To $115 – New All Time High Possible?

The Solana price is up 9.5% in the past 24 hours to reach $115 after surging Bitcoin ETF volumes helped push the crypto market to a 5% gain today.

another nice day for the ETFs

nearly 500m inflow

h/t @FarsideUK for the data pic.twitter.com/8zuhZjfK2E

— #333kByJuly2025 (@CarpeNoctom) February 13, 2024

SOL is now up 19% in a week and 17.5% in the past 30 days, with the altcoin also sitting on a 450% increase since this time last year.

Such is SOL’s momentum that the coin is likely to make more gains in the coming days and weeks, especially as the broader market remains in a bullish phase.

As for whether it can hit a new all-time high this year, that will depend on whether the Solana blockchain can avoid a repeat of last week’s outage.

Solana Price Forecast As SOL Rises To $115 – New All Time High Possible?

SOL’s chart continues to show very strong momentum, while also leaving room for further gains in the near term before the coin enters firmly overbought territory.

Its relative strength index (purple) is about to hit 70 today, after spending a month and a half near (or even below) 50, with this improvement likely to continue at least until it hits 80 or reach higher.

At the same time, SOL’s 30-day moving average (yellow) started to rise at a higher angle, putting even more distance between itself and the 200-day moving average (blue).

All of this underscores the fact that SOL (like much of the market) is in the middle of an expansion phase, and after 2022 and early 2023 such a phase may continue for some time.

Indeed, SOL’s support level (green) suggests that the coin will maintain and consolidate its recent moves, with few signs of an incoming correction or collapse.

🚨 99,999 #SOL (10,511,803 USD) transferred from unknown wallet to #Binancehttps://t.co/ja1NVXWANQ

— Whale Alert (@whale_alert) February 12, 2024

But with SOL hitting its highest level since April 2022, investors should be wary that whales could take the opportunity to take profits in the next few days, meaning SOL could occasionally wobble.

However, the long-term picture remains very positive, with the market likely to become even more bullish in the build-up to the next Bitcoin halving, which takes place in and around April.

The Solana price will be along for the ride, aided by the Solana blockchain’s recent growth, particularly in the areas of NFTs and DeFi.

The only possible headwind is related to last week’s outage, with SOL likely to take a big hit if there is another network outage.

But for now, the Solana price is on track to hit $200 by late spring.

Bullish diversification with small cap alts

SOL isn’t the only coin in the market with high potential this week, with a wide variety of smaller cap tokens also showing the potential to be big soon.

One of these coins is Sponge (SPONGE)An ERC-20 cryptocurrency that launched the second version of its token last week, which was listed on Uniswap and doubled in value within a day.

SPONGE V2, which runs on Polygon, has two important new features, the first being an improved strike model that can deliver returns in excess of 400% APY.

This return depends on the number of tokens stakeholders have locked up, as well as for how long they have invested, with long-term holders receiving greater rewards.

📣 Attention, #SPONGERS!

Here’s some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has launched on #Polygon! 🔥

Learn more about the token details below 👇https://t.co/TCdxgXx40w

🧵1/3 pic.twitter.com/YZzXOlKmHY

— $SPONGE (@spongeoneth) February 6, 2024

The second key feature of SPONGE V2 is that it is the native token for a soon-to-be-released P2E racing game set in the Sponge universe, with this game set to launch around the time SPONGE V2 appears on centralized exchanges .

The game will offer its players the opportunity to compete for the highest position on a global leaderboard, with the most successful players winning rewards in SPONGE.

Although a Sponge has not yet provided a specific launch date, investors can already purchase SPONGE V2 by going to Uniswap or by visiting the official Sponge website.

As the chart above shows, SPONGE is currently 100% higher than its listing price, having risen 7% in the last 24 hours.

And its price is only likely to rise further as more exchanges list the promising new token.

Buy Sponge V2 here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and is not investment advice. You can lose all your capital.