Analyst Predicts Solana (SOL) Set to Surge 38%, Reach $140 Soon

Jonathan Stoker Feb 01, 2024, 01:50am 45 views

Analyst Predicts Solana (SOL) Set to Surge 38%, Reach $140 Soon

Solana (SOL) Displays Market Resilience Post-Sell-Off

Reflecting a broader market upturn, SolanaSolana$104 5.03% (SOL) has demonstrated a strong recovery after a recent sell-off period. The cryptocurrency has overseen a surge of over 21% on its weekly charts, managing to reestablish its foothold over the $100 price point. Impressively, SOL's price has skyrocketed by 320% since January 2023.

An Upward Trajectory Predicted for SOL

Renowned cryptocurrency analyst Michaël van de Poppe speculates an end to Solana's (SOL) low phase. The expert suggests that SOL appears poised for a continued upward trend. Encouragingly, van de Poppe predicts that SOL is likely to rally towards $140, which signifies a potential growth of over 38% from the current figures.

SOL's Robust Performance Post FTX Collapse

Despite a significant drop following the FTXFTX$3.28 -5.38% collapse, SOL has managed to bounce back with a sterling on-track performance. The cryptocurrency proved to be one of the top performers of 2023, boasting an outstanding rise of close to 1000% at its peak. Market analysts propose that the token is set to maintain its bullish trend throughout 2024.

Forecasting Solana's (SOL) Potential in 2024

While Changelly presents a less optimistic trajectory for Solana (SOL) through 2024, suggesting a high of $104.7 in January and a downfall to $37.15 by December, this represents a decrease of roughly 63% from current figures. On the other hand, Telegaon maintains a more bullish stance. This platform envisages SOL reaching a high of $165.16 in 2024, indicating a growth of approximately 63%.

All-Time High Predictions for SOL

Despite their differing forecasts for 2024, both Changelly and Telegaon concur that Solana (SOL) may reclaim its all-time high of $259.96 by 2026. According to Changelly, SOL is expected to exceed its previous peak in January 2026. Conversely, if a bull market is established in the latter part of this year, driven by BitcoinBitcoin$42,260 -0.64%'s halving event in April, SOL might reach its all-time high much sooner than expected.

Edited by Jonathan Stoker

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