Solana (SOL) Price Prediction: SOL Bulls Reclaim $200 Zone, Aims $300 as Trump Inauguration Nears

As Donald Trump's presidential inauguration approaches on Monday, January 20, the cryptocurrency market has experienced a bullish surge this week. Bitcoin has reclaimed the $100K mark, which is fueling a recovery momentum across major altcoins, including Solana (SOL).

Notably, Solana price has broken out of a two-month correction phase, signaling the potential for a stronger rally ahead. At the time of writing, SOL price is trading at $221, up 5% intraday. As a result, the asset's market capitalization has increased to $107 billion, with 24-hour trading volume at 5.11 billion.

Solana Price Recovery Backed By Whale Buying

According to Lookonchain, a crypto whale recently purchased 11,824 SOL tokens for 2.49M USDC, valued at roughly $3.94M, and withdrew an additional 18,527 $SOL from Binance to increase their holdings.

These tokens were then deposited into Kamino, a liquidity optimization protocol. In a significant move, the whale deposited a total of 144,817 $SOL, worth $30.44M, into Kamino and used it as collateral to borrow $20M in stablecoins.

Whales are buying and going long $SOL!

A whale spent 2.49M $USDC to buy 11,824 $SOL, withdrew 18,527 $SOL($3.94M) from #Binance, and then deposited $SOL into #Kamino to borrow stablecoins.

This whale has deposited 144,817 $SOL($30.44M) into #Kamino and borrowed $20M… pic.twitter.com/VG1rXlP1nk

— Lookonchain (@lookonchain) January 17, 2025

This series of transactions suggests a bullish stance on Solana, as the whale anticipates a substantial price increase.

Flag Pattern Sets SOL Rally Past $300

The Solana price has shown a sharp recovery in the last five days, rising from $169 to $217, indicating a 28% gain. The bullish upswing, backed by substantial volume and the aforementioned whale buying, suggests a sustained recovery.

Supporting the bullish thesis, the SOL price shows an upside breakout from the 60-day flag pattern correction and a potential crossover of 20-day EMA above the 50-day. If the daily candle closes above $212, the buyers could drive a 28% rally to hit $283.

In a prolonged rally, the Solana price prediction targets a $312 high.

On the other hand, if the post-breakout retest dives back within the flag formation, the bullish thesis will be at risk of invalidation.

Also Read: Bitcoin Soars to $102,000 as CPI Data Boosts Market Ahead of Trump’s Inauguration