At the beginning of 2023, things were going very badly for Solana. After the FTX events, the cryptocurrency performed unimaginably within a year. By the end of 2023, (SOL) saw its price rise rapidly from below $20 to around and above $200 several times. Additionally, the token’s blockchain began hosting an increasing number of new projects.
SOL Price Outlook
SOL price outlook has been positive since the early days of 2024, increasing by 48.79%. The price moved above $200 in March after a long time, during which BTC reached its ATH.
Since then, SOL’s price has been declining, with a 13.03% drop in the last 7 days. As of the time of writing, Solana’s price stands at $148 after a 3% drop in the last 24 hours. In the SOL/TRY pair, the price is around 4,780 TL.
Besides the meme coin frenzy and market events, there have been updates in the SOL ecosystem. In the last update in May, the network’s fee structure became positive for block validators.
So, where could Solana’s price go considering its past? In this context, AI algorithms, which have been frequently mentioned recently, have provided their views on where SOL could be in 2024.
What Will Solana’s Price Be?
Machine learning prediction algorithms foresee a stark contrast in the coming months compared to recent weeks. Indeed, Solana is expected to trade with relative stability between $150 and $175 until mid-October.
According to AI, things will change from this point. AI predicts a significant breakout for the token in the last quarter of 2024, with SOL’s price surging to $200 in November and reaching $365 by the end of December.
Following this rise, AI also forecasts a correction, suggesting that Solana could end 2024 at $324.09. This level is 142.08% above the current price at the time of writing but 11.21% below the mentioned $365 level.
However, technical analyses indicate that if Solana visits the critical support level at $143, the predictions could become invalid, and the decline could deepen.
