Ethereum

Solana

Bitcoin

<p>Solana (SOL) is currently up by more than three percent and is trading close to the $240 levels. The recent price increase comes after Grayscale Investments <a href="https://www.nyse.com/publicdocs/nyse/markets/nyse-arca/rule-filings/filings/2024/SR-NYSEArca-2024-110.pdf" target="_blank" rel="noreferrer noopener nofollow">filed with the SEC</a> to convert its Grayscale Solana Trust into a spot ETF. Other asset managers, like VanEck, 21Shares, Canary Capital, and Bitwise Asset Management, have also filed for <a href="https://coinpedia.org/news/vaneck-head-of-digital-asset-say-solana-etf-will-be-approved-by-2025/" target="_blank" rel="noreferrer noopener">spot Solana ETFs</a>.</p>   
<h2 class="wp-block-heading" id="h-key-resistance-and-price-targets-for-solana"><strong>Key Resistance and Price Targets for Solana</strong></h2>   
<p>Solana has recently completed a correction with an ABC structure, where the price has already dipped into the support zone. This correction seems to be nearing its end, with the potential for Solana to reverse and <a href="https://coinpedia.org/price-analysis/bearish-clouds-hover-over-solana-sol-price-rally-will-it-plunge-below-200/" target="_blank" rel="noreferrer noopener">start moving upwards again</a>. The current price structure suggests that wave five of the correction could be complete.</p>   
<p>The next significant resistance level for Solana is around $246. If the price breaks through this level, the next major target will be $260. However, a breakout above $260 could push Solana towards its next resistance point at $313.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-short-term-support-levels-to-watch"><strong>Short-Term Support Levels to Watch</strong></h3>   
<p>If Solana faces a pullback, the initial support zone to watch is between $232 and $233. If the price breaks below this level, the next support areas to consider are $222 and $205. Should Solana break above $246, it will likely turn into new support, leading to a bullish continuation.</p>   
<h3 class="wp-block-heading" id="h-impact-of-bitcoin-and-ethereum-on-solana-s-price-movement"><strong>Impact of Bitcoin and Ethereum on Solana’s Price Movement</strong></h3>   
<p>Solana’s price action tends to follow the market trends of Bitcoin and Ethereum. If <a href="https://coinpedia.org/price-analysis/bitcoin-eth-xrp-price-prediction-heres-what-to-expect-in-december-2024/" target="_blank" rel="noreferrer noopener">Bitcoin and Ethereum</a> experience a significant price movement, Solana is likely to mirror that trend. Therefore, monitoring the movements of these major cryptocurrencies will be crucial for predicting Solana's next moves.</p>   [post_titles_links postid="388892"]   
<h2 class="wp-block-heading" id="h-conclusion"><strong>Conclusion</strong></h2>   
<p>There’s a chance that Solana could form a bull flag pattern and break out. If it does, it could test higher levels, possibly around Christmas or early in the new year. With the upcoming changes in crypto regulation, there’s a good chance Solana could make a significant move, with some analysts predicting it could reach $300 or even $400.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1733295441307">
  <strong class="schema-faq-question"><strong>Can Solana reach $300 or $400?</strong></strong> 
  <p class="schema-faq-answer">Some analysts predict Solana could reach $300 or even $400 with upcoming market changes and crypto regulation updates, possibly by early next year.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1733295519771">
  <strong class="schema-faq-question"><strong>How does Bitcoin and Ethereum impact Solana's price?</strong></strong> 
  <p class="schema-faq-answer">Solana's price often mirrors trends in Bitcoin and Ethereum, so significant price movements in these assets can affect Solana's price action.</p> 
 </div> 
</div>

Solana Price Prediction For December 4

Table of Contents

CoinPedia News

Other articles published on Dec 4, 2024

Mercado Bitcoin Launches MBRL Stablecoin Pegged to Brazilian Real on the TRON Blockchain

WisdomTree Registers in Delaware for XRP ETF

Grayscale proposed Solana ETF to the commission: filings

Solana's Monthly DEX Volume Hits Records $70B as $SOL Nears ATH

BNB Gains Bullish Momentum Following New ATH: Is The Rally Started?

Binance Coin Gains Momentum with Technical Indicators Supporting Growth

Join our free newsletter for daily crypto updates!