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AI revises Solana price prediction for end of 2024

AI revises Solana price prediction for end of 2024

Since late 2023, Solana (SOL) has been on a while ride as it saw its price rapidly rise from less than $20 to reach – on a few occasions – toward and above $200. Additionally, the token’s blockchain again started hosting an ever-increasing number of new projects.

SOL price trajectory has seen it rise 48.79% since the start of 2024 and cross above $200 twice in March. More recent trading has, however, been more lackluster, and the token dropped 13.03% in the last seven days, ensuring Solana price today, at press time, stands at $150.75.

Solana YTD price chart. Source: Finbold

Along with the dynamic price action, the ecosystem has also undergone a string of updates and upgrades, with the most recent taking place in late May and changing the fee structure to favor block validators.

With all the developments affecting Solana in the last eight months or so, Finbold decided to consult predictive artificial intelligence (AI)-driven algorithms and discover where SOL may stand at the end of 2024.

AI sets Solana price for the end of 2024

The machine learning predictive algorithms are forecasting that the coming months will stand in stark contrast to the more recent weeks. Indeed, Solana is expected to trade with relative stability in the rough range between $150 and $175 until mid-October.

The final quarter of 2024, however, will bring a dramatic change for the token as SOL is expected to explode and rapidly climb $200 in November and above $365 by late December.

The final days of the year are, however, expected to bring a correction and lead to Solana ending 2024 at $324.09 – 142.08% above its press time, but 11.21% below its projected yearly highs.

Solana price projection for the rest of 2024. Source: CoinCondex

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 – up to 53% – move should it cross below its support level at $143 or above its resistance at $178.

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

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