AI revises Solana price forecast for the end of 2024

Since late 2023, Solana (SOL) has experienced a short period of growth as it has seen its price rise rapidly from below $20 to reach, on some occasions, values ​​equal to or above $200. Furthermore, the token blockchain has started to host an ever-increasing number of new projects.

The SOL price trajectory has seen it rise 48.79% since the start of 2024 and break above $200 twice in March. More recent trading, however, has been less stellar and the token has fallen 13.03% over the past seven days, ensuring that Solana’s price today, as of this writing, stands at $150.75.

Along with the dynamic price action, the ecosystem has also undergone a series of updates and improvements, the most recent of which occurred in late May and changed the fee structure to favor block validators.

With all the developments affecting Solana over the past eight months or so, Finbold decided to consult artificial intelligence (AI)-based predictive algorithms and find out where SOL might be at the end of 2024.

AI sets Solana price for late 2024

Predictive machine learning algorithms predict that the next few months will be in stark contrast to the most recent weeks. In fact, Solana is expected to trade with relative stability in the approximate range between 150 and 175 dollars until mid-October.

The last quarter of 2024, however, will bring a dramatic change for the token as SOL is expected to explode and quickly rise to $200 in November and surpass $365 by the end of December.

The final days of the year are expected, however, to bring a correction and lead Solana to close 2024 at $324.09, or 142.08% higher than at the time of writing this article, but on the 11th, 21% below projected annual highs.

Technical analysis (TA), however, contradicts the algorithm’s short-term prediction of relative stability as it indicates that Solana is set to make a major move – up to 53% – if it were to fall below its trading level. support at $143 or above its resistance at $178.

Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.

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