Experts Predict 1650% Price Hike Based on Solana's Anticipated Explosive Growth

The sixth-largest token in terms of market capitalization, Solana (SOL), has recently reclaimed the $230 price point as the broader cryptocurrency market recovers following Donald Trump's election on November 5.

After its current all-time high of $263 on November 23, the price of Solana increased around 7% on Wednesday to $232. This follows a two-week adjustment period.

Can the price of Solana rise to $4,000?

Based on the latest price action, Solana may be headed towards a resounding breakout above its previous high by a wide margin in addition to retesting it.

Cryptocurrency analyst Ali Martinez noticed a bullish "cup and handle" pattern on the one-month chart of Solana.

If the trend holds, this is to suggest that Solana would experience returns exceeding 1,650%. Such could establish the highest recorded price on $4,000 per token.

Experts disagree, though. According to one like Cryptorangutan, the prices might continue upwards towards $300. There is, though the purchasing pressure well established, coupled with a set of signs currently indicating further upward momentum.

The finished pullback structure, featuring a sharp five-wave downtrend, is highlighted by analyst MoreCryptoonl. Therefore, even if the recovery rally is currently ongoing, there is no guarantee that it might change to the ABC corrective structure or just the bullish pattern.

The total locked amount is $9.198 billion.

Critical financial indicators show that Solana is still doing good despite the conflicting technical signs. With a market valuation of more than $112.73 billion, Solana is the sixth biggest cryptocurrency according to CoinMarketCap.

Its Total Value Locked (TVL) is also up to $9.198 billion, showing its decentralized finance (DeFi) ecosystem remains in focus. DEX volumes, however, have declined by 25% to $28 billion, which means there could be some trading activity instability.

Recent market developments just fueled the story surrounding Solana. The cryptocurrency world is excited about Grayscale's application for a spot Solana ETF in the US due to the expectation of increasing institutional investment.

The platform Pump.fun also announced record sales of $93 million in November, despite a 66% weekly reduction, whereas the project Jupiter altered its $1.6 billion airdrop following a failed vote.

Solana remains in commanding lead at the DeFi scene, with 5.56 million active addresses, though it now sits in third place after Tron's TVL leaped 78% to $13 billion.

Still, recent dip in DEX volume and revenue - with Raydium slipping 8.22% - means that trading activity inside the ecosystem has to steady itself.

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