Most assets in the cryptocurrency market continue to consolidate previous gains. In addition, solana (SOL) is no exception and has dropped over 15% in the last day. However, artificial intelligence (AI) algorithms remain optimistic about price trends in 2024.
Indeed, Solana has begun to pull back after several significant bullish weeks, during which it managed to rise to fourth place in terms of market cap. Advanced AI price prediction algorithms predict even more intense gains towards the end of the year.
Price Forecast for Solana in 2024
Predictions suggest that Solana could reach a price of $354.78 on December 31, 2024 based on historical SOL trends, technical analysis (TA) indicators, and various chart formations. This marks an increase of 104.47% from its current status. However, there are many variables to consider in such predictions. In this context, market developments are likely to affect these projections. Additionally, results may vary. Therefore, investors need to make their own decisions by evaluating information from different sources.
He also offered 2024 price forecast targets for GPT-4 Solana, which sees it potentially reaching $200-$300. However, the chatbot also explained:
“This forecast operates under the assumption that positive market trends, technological advances on the Solana network, and broader cryptocurrency adoption will continue.”
Claude 3 Opus, Anthropic’s latest artificial intelligence model, crypto- He predicted that SOL could reach a price between $250 and $400 by the end of 2024, based on the assumption that the market continues to rise and Solana continues to gain adoption and partnerships. Such predictions are based on analyzes of artificial intelligence models. In this context, it may definitely not happen as the market is under the influence of many variables. Investors should be encouraged to make their own decisions by evaluating information from multiple sources.
At the time of writing, Solana is trading at $173.51. This indicates a 16.47% decrease in the last 24 hours, while maintaining the 15.31% gain on the weekly chart. Additionally, according to the latest data on March 19, it gained 55.57% in value in the last 30 days.
These latest figures come at a time when interest in the SOL has seen a huge increase.
Why is the LEFT in Decline Today?
However, the recent drop in price is not just about the general bearish sentiment pervading the crypto world. It also ironically coincides with the Solana network suffering severe congestion, with significant impacts on transaction processing, due to the massive increase in interest.
As a reminder, Solana’s ecosystem has in the past faced concerns about a history of outages and transaction failures that could lead to frustration among users and developers, weakening their trust in the reliability of the network, and ultimately have a negative impact on SOL’s price.
All things considered, it’s possible that SOL actually performs well. In this context, it may move towards the above price ranges determined by artificial intelligence platforms. However, things in this industry can sometimes change on a whim. Therefore, it is critical to do one’s own research and follow Solana news.
