Solana’s (SOL) price has fluctuated between $90 and $100 throughout January 2024. The asset faced a steep correction last month, following the market trend. SOL is currently down by 6.3% in the 24-hour charts, 5.5% in the 14-day charts, and 17% over the previous month. However, the asset is still up 7.7% in the weekly charts and over 300% since January 2023.
The January selloff was likely due to investors selling their Grayscale GBTC shares after the SEC (Securities and Exchange Commission) approved 11 spot Bitcoin (BTC) ETFs (Exchange Traded Funds).
Also Read: Solana (SOL) May Rally 43% to $145 in February: Predicts Analyst.
Despite the recent correction, analysts anticipate Solana (SOL) to regain traction in February 2024.
How high can Solana (SOL) go in February 2024?
According to Changelly, Solana (SOL) could reclaim the $100 level as early as Feb. 3, 2024. The platform predicts SOL to reach $104. 47 on Feb. 3, 2024, a rise of over 9% from current levels. Moreover, Changelly anticipates SOL to reach $120 by the end of February, almost reaching its 2023 highs. If SOL hits $120, it would translate to a growth of over 26% from current levels.
Also Read: Solana SOL Price Prediction: Mid-February 2023
On the other hand, CoinCodex anticipates Solana (SOL) to drop to $82.74 on Feb. 3, 2024, a fall of over 13% from current levels. Moreover, the platform anticipates SOL to trade between $104 and $90 throughout February. However, CoinCodex predicts SOL to hit a high of $112.22 on Feb. 28, 2024. Reaching $112.22 would translate to a growth of about almost 18% from current levels.
According to Telegaon, Solana (SOL) could reach a high of $165.16 in 2024. However, the platform does not clarify when, in 2024, SOL could reach this target. Hitting $165.16 would translate to a growth of over 73% from current levels.