Solana (SOL), following the market trend, is showing recovery signs after the recent sell-off. The asset has rallied over 21% in the weekly charts, reclaiming the $100 level. Moreover, since January 2023, SOL’s price is up by over 320%.
According to cryptocurrency analyst Michaël van de Poppe, Solana’s (SOL) lows might be over. The analyst stated that SOL ‘is ready for upward continuation.’ The analyst anticipates SOL to rally towards $140 from here. Reaching $140 would translate to a growth of over 38% from current levels.
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SOL has displayed incredible performance after its plummet due to the collapse of FTX. The asset was one of the best-performing cryptocurrencies of 2023, rising by nearly 1000% at one point. Analysts anticipate the token to continue its bullish path through 2024.
How high can Solana (SOL) go in 2024?
Changelly paints a bearish picture for Solana (SOL) in 2024. According to the platform, SOL could hit a high of $104.7 in January and will head downhill for the rest of the year, reaching $37.15 by December 2024. Hitting $37.15 from current levels would translate to a fall of around 63%.
Telegaon is more bullish on SOL than Changelly. The platform predicts SOL to hit a maximum price of $165.16 in 2024. However, the platform does not clarify when SOL could hit this target. Reaching $165.16 from current levels would translate to a growth of about 63%.
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However, both platforms agree that Solana (SOL) could reclaim its all-time high of $259.96 in 2026. Changelly anticipates SOL to surpass its previous peak sometime in January 2026, about two years from now.
Nonetheless, there is also a possibility that we may enter a bull market later this year, filled by Bitcoin’s (BTC) halving event in April. If we enter a bull market, Solana (SOL) may reclaim its all-time high much sooner than anticipated.