Despite opening the week on a bullish note, the majority of assets in the cryptocurrency sector are consolidating their earlier gains, including Solana (SOL), but for which certain artificial intelligence (AI) algorithms predict a much brighter future by the end of this year.
As it happens, the AI-driven price prediction algorithms over at the cryptocurrency tracking platform CoinCodex have set the price of Solana at $39.73 by December 31, 2023, which would indicate a gain of nearly 65% to its price at press time, as per the most recent data seen by Finbold on October 3.
Solana price analysis
In terms of its price at present, Solana stood at $24.08, demonstrating a decline of 0.6% in the last 24 hours, although across the previous seven days, it has accumulated a gain of 24.52%, in addition to increasing 23.23% in the past month and as much as 140% since the year’s turn.
It is also worth noting that Finbold had previously reported on Solana rapidly approaching the $25.50 price level, from where, should the cryptocurrency surpass it, there is a strong chance of continuing the bullish move, as pseudonymous crypto market analyst Crypto Tony observed.
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Moreover, the same crypto expert had earlier predicted Solana at $100 “next week,” and while some of his followers disagreed with such a prognosis, it is not entirely impossible for the seventh-largest crypto asset by market capitalization, which had its all-time high (ATH) at almost $260.
What’s more, the AI algorithms also see the $100 price level in Solana’s future, although not as soon as Crypto Tony would have it. Specifically, their one-year prediction for this digital asset currently targets $107.11 – a level they expect Solana to hit by October 1, 2024.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://thebittimes.com/ai-forecasts-solana-price-for-the-end-of-2023-tbt64912.html
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