Despite its undeniable success in the cryptocurrency market, Solana (SOL) suffered greatly from stagnation after investors’ initial euphoria over Donald Trump’s victory subsided.
After starting at $157.61 on the eve of the election, SOL soared 63.22% to $257.25 on November 21 before correcting to $230 and entering a period of volatility and decline.
However, despite falling to $229.61 as of press time on December 12, Solana shares remain up 10.46% over the past 30 days and 58.05% over the past 6 months, with cryptocurrency investors remaining bullish on the the coming months.
Under the circumstances, Finbold decided to consult ChatGPT-4o’s cutting-edge artificial intelligence (AI) to try to determine whether the rally would resume by December 31st or whether traders would have an even better opportunity to “buy the dip.”
ChatGPT has set a target price for SOL on December 31
Although ChatGPT slightly mispriced Solana’s print time price at $231.49, ChatGPT was quick to view the overall situation as positive. In particular, the AI identified a number of events critical to SOL continuing to benefit from strong tailwinds.
According to ChatGPT, these include overall cryptocurrency market dynamics, institutional adoption, high network activity, technical developments and tools such as Gameshift, and positive investor sentiment driven by expected regulatory changes and Bitcoin (BTC) reaching $100,000.
However, AI’s Dec. 31 price target turned out to be quite conservative, as the company estimates that at $250, SOL won’t recapture its 2024 highs until the New Year.
Cryptanalysts are increasingly optimistic about Solana
While ChatGPT has proven to be optimistic but cautious about Solana’s future, various cryptocurrency analysts—whether prominent voices on X or community members—have become downright bullish as of late.
Several exams are posted on TradingView numerous prolific traders and experts such as shadow figure, LOWCO_487And basic tradingtv, In recent days, everyone has acknowledged some uncertainty about the future direction of SOL, but everyone has also agreed that Solana is poised for a continued bull run.
The analysis was based on numerous technical factors, including the critical stability of the token in trading above the 200-day simple moving average (MA), momentum relative to critical support and resistance zones, volume and the fact that – depending on the exact timing of the frames used – Solana formed a number of positive patterns, including a bullish pennant and a bullish falling wedge.
However, perhaps the most positive assessment was shared by popular on-chain analyst Ali Martinez, who opined in an X post on December 10 that SOL had formed a major “cup and handle” pattern that would eventually lead to the full development of the cryptocurrency. up to $4000 – 1642.08% higher than the price indicated in the press.
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