Solana (SOL) has faced a significant correction over the last week. The asset is down 5.8% in the daily charts, 6.3% in the weekly charts, and 2.9% in the 14-day charts. Nonetheless, SOL has maintained some of its gains from the market-wide rally earlier this year and is up 32.3% over the previous month and 722.9% since April 2023.
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Despite the 2023 rally and the recent market spike in March, investors and users still await Solana (SOL) to reclaim its all-time high of $259.96, which it attained in November 2021. However, the wait may finally be over as some analysts anticipate SOL to reclaim its 2021 peak soon.
Solana (SOL) to reclaim its all-time high of $259.96
According to CoinCodex, SOL might witness a breakout very soon. The platform anticipates SOL to hit $266.97 on Apr. 16, 2024. Reaching $266.97 from current levels would translate to a growth of about 52.72%.
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Moreover, CoinCodex does not expect Solana (SOL) to stop just at its 2021 peak. The platform predicts SOL will continue surging this month, hitting $498.97 on Apr. 30, 2024. Reaching $498.97 from current levels translates to a growth of about 185.4%.
Changelly also anticipates SOL to reclaim its all-time high this month. According to the platform, SOL will hit $266.92 on Apr. 16. 2024. Furthermore, Changelly predicts the asset to hit $498.87 by the end of this month.
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The bullish outlook around Solana (SOL) could be due to Bitcoin’s (BTC) halving event later this month. SOL and BTC have moved in tandem during the last few rallies. If BTC breaks out, SOL may follow suit.