- Solana is showing strong potential to climb to $620 by January 2026, supported by key technical indicators and growing ETF approval odds.
- Despite some short-term bearish pressure, the network’s momentum and bullish outlook suggest a promising upward trend ahead.
Solana (SOL) could be gearing up for a meteoric rise, with a leading crypto analyst forecasting a staggering price target of $620 in the coming months—and potentially up to $1,000 by early 2026.
This bold prediction follows Solana’s recovery from its June 6 dip, where the asset briefly dropped to $141. As of now, SOL is trading at around $149, slightly down on the day but holding steady amid broader market volatility.
Despite short-term bearish signals, such as SOL trading below its 50-day and 200-day simple moving averages (SMA), optimism is brewing among bulls. A breakout above the 200-day SMA ($164.19) could signal a major trend reversal. The current 14-day Relative Strength Index (RSI) stands at 40.14—indicating bearish pressure but still well above oversold territory.
Path to $620—and Beyond?
Crypto analyst Master Ananda sees Solana on the brink of a major rally. In a recent TradingView post, Ananda highlighted a higher low formation—often a signal of trend reversal—as a key reason for bullish optimism. The chart also reveals compelling Fibonacci extension levels, with $420 pegged at the 1.618 level, $620 at 2.618, and a whopping $1,021 at 4.618.
According to Ananda, SOL could realistically reach $620 by January 2026, which would represent a 316% increase from current levels. If that happens, Solana’s market cap could soar to $325 billion, potentially placing it just behind Bitcoin—assuming Ethereum sees limited gains.
Ananda cautions traders not to short the market during this bullish setup and instead advises waiting for strong support levels before making long entries.
What’s Fueling Solana’s Potential?
Beyond technical indicators, Solana’s ecosystem is gaining momentum. The crypto world is closely watching the U.S. Securities and Exchange Commission’s (SEC) upcoming decision on spot SOL ETF applications from firms like Bitwise, VanEck, and 21Shares. Odds of approval in 2025 have surged to over 80%, adding bullish fuel to the fire.
However, not everyone is convinced. In late May, Standard Chartered warned that Solana may struggle with long-term sustainability, especially if it remains heavily dependent on meme coin trading.
Still, with growing ETF optimism and a strong technical setup, SOL might just be preparing for its next breakout moment.
