Solana (SOL) is following the market recovery, rallying 8.7% in the weekly charts, 9.6% in the 14-day charts, and 14.4% over the previous month. Moreover, SOL is up by a whopping 407.9% since February 2023. Nonetheless, the asset has faced a 3.1% correction in the last 24 hours.
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Despite the recent correction, Solana (SOL) might be gearing up for another rally. According to crypto analyst Bluntz, who successfully called Bitcoin’s (BTC) 2018 bottom, SOL could be on its way to breaching the $150 level. Bluntz has used the Elliott Wave theory for his forecast.
Reaching $150 from current levels would translate to a growth of almost 43%.
Solana (SOL) price prediction
According to CoinCodex, Solana (SOL) could hit a high of $121.27 on Feb. 18, 2024, rising by about 14.5% from current price levels. However, the platform anticipates SOL to drop to $103.5 by the end of the month.
Also Read: Solana (SOL) To Rally 38% and Hit $140 Next: Predicts Analyst
Changelly also anticipates SOL to rally over the next few days, hitting $121.36 on Feb. 18, 2024. Moreover, the platform predicts SOL to trade at $120 by the end of the month, a rise of around 13.3% from current levels.
Solana (SOL) was one of the best-performing cryptocurrencies in 2023. At one point, the asset was up by almost 1000% since the beginning of last year. Many analysts anticipate SOL to continue its bullish trajectory in 2024 as well. If we enter a bull run later this year, fuelled by BTC’s halving event in April, SOL may hit a new high. The asset is currently down by 59.2% from its all-time high of $259.96, which it attained in November 2021, over two years ago.