Solana has experienced notable growth in the DeFi, NFT, and Web3 markets since its inception in April 2019. Numerous projects are currently being developed on the Solana network, with more expected to emerge soon.
According to information provided on Solana’s official website, the company’s main value proposition is offering low-cost transactions indefinitely. As a blockchain network, it competes directly with other platforms, such as Ethereum. Solana had breached the price level of $200 after a prolonged year of downward trend. However, according to recent data, SOL has dropped below the $200 level.
With the whole cryptocurrency market being volatile, here is our price prediction for Solana (SOL) for the week.
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SOL price prediction for the week
Various factors, such as market conditions, price action, developments, supply, and use cases, will determine whether Solana’s SOL can shoot up or go down in price during the week.
Based on its behavior at the start of 2024, cryptocurrency experts at Changelly offer their price prediction for Solana SOL for the week. For this timeframe, SOL’s minimum price is anticipated to be $189, and its maximum is anticipated to be $267.
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Solana has been on a positive trajectory recently. It even outperformed Bitcoin and Ethereum in terms of gains. SOL also recently dethroned BNB to earn the spot as the fourth largest cryptocurrency by market capitalization.
Additionally, experts expect that SOL price will trade at an average price of $190 to $260 during this period. Changelly experts predict that the SOL price is likely to reclaim the $200 level this week. However, the entire prediction could depend on the overall market sentiment.
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