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.
Also read: El Salvador Bitcoin Investment Now at $84 Million Unrealized Profit
Solana had breached the price level of $150 after a prolonged year of downward trend. According to recent data, SOL has been up by over 2.1% in the last 24 hours. SOL is also up by over 17% in the last seven days. During this period, SOL surged from $117 to a high of $153 before falling to its current price.
With the whole cryptocurrency market being volatile, here is our price prediction for Solana (SOL) for the week.
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 $155, and its maximum is anticipated to be $205.
Also read: Shiba Inu Official Forecasts SHIB To Hit $0.01
Additionally, experts expect that SOL will trade at an average price of $170. Changelly experts predict that the SOL price is likely to sustain the $150 price level this week. However, the entire prediction could depend on the overall market sentiment. With BTC struggling to keep up its momentum, it’s uncertain where SOL is headed next.