The entire cryptocurrency market was painted green. Several assets were moving ahead with double-digit gains. Certain market dynamics also saw a shift as Shiba Inu (SHIB) entered the top ten and Solana (SOL) managed to beat Binance Coin (BNB). The last week was particularly bullish for the entire market, but Solana could be on to something.
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Can Solana Finally Reclaim Its All-Time High?
Following the U.S. election results, Solana witnessed a major spike. While Bitcoin (BTC) and meme coins made waves, SOL did not hesitate. The altcoin reached a price that it hasn’t since the 2021 surge. This further translated to a 2.500% spike since it dipped to a notable low following FTX’s collapse.
Solana rose to a high of $214 during the weekend following a 27% rise. At press time, the asset underwent correction and dropped to $207.07. The community is glad that SOL has retained itself over the $200 mark.
Solana was last around $214 in early December 2021. This was over three years ago when it was slowly declining after reaching an all-time high of roughly $260 the month before.
The latest rise, however, has brought the asset closer to its peak. The asset hit an all-time high back in 2021. Currently, SOL is 20% below this. It should be noted in less than a year the asset managed to rise from a low of $41 all the way to $202. As a result, reclaiming its peak will not be a major task for the altcoin.
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Price Prediction
According to data from CoinCodex, Solana will enjoy a bullish streak over the next couple of days. The asset will trade at a high of $210.75 on November 15. The first half of November has been optimistic for the altcoin, and the next half is expected to witness similar momentum.
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