Solana (SOL) has undoubtedly been a top performer this year. While its massive uptick over the past months stood out, the asset’s recent rise toward a new all-time high stole the show. As the market encountered a slight correction, SOL saw a setback. But the community remains optimistic about the asset’s potential surge in the coming days.
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Revisiting Solana’s All-Time High
Solana recorded a new peak of $263 about 13 days ago on November 23. The community celebrated this rise as they wanted the asset to move beyond its previous high. But now, they were aiming for a higher uptick towards $300. Solana currently sits 10% below its peak and 25.57% below $300. It should be noted that SOL has increased by 278% over the last 12 months.
According to data from CoinMarketCap, SOL was trading at $238.91 at press time. This comes after a 2% increase throughout the past 24 hours.
More recently, Jan Happel and Yann Allemann, the duo behind Glassnode, anticipate a big spike for Solana. According to them, Solana is poised for a breakthrough, as they post under X through their handle, Negentropic.
One of the main factors influencing Solana’s potential rise, according to Happel and Allemann, is its “thriving” environment. They highlight SOL’s durability and indicate that the current price zone offers a solid entry point, despite the fact that it has somewhat retraced after reaching a new all-time high.
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Mid-December Price Prediction
Meanwhile, data from CoinCodex reveals a possible slowdown in the Solana market during the coming days. The firm pointed out that on December 15, SOL will trade around $236.02. This squashes the hopes of the altcoin rising to a high of $300 anytime soon. It looks like the SOL community will have to wait longer. The highest price level that the asset will trade at in the coming week is $238.48.
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