AI Predictions for Cryptocurrency Solana Price as 2024 Approaches
Market Trends for Solana and AI Price Predictions
As the broader crypto market consolidates following a sharp rally, Solana (SOL) has emerged as a standout performer. With a 17% monthly gain, Solana's price surge highlights increased network activity fueled by a memecoin boom.
Growth Drivers for Solana
- Institutional investment
- Increased user engagement
- Thriving DeFi ecosystem
In Q3 2024, Solana’s applications attracted $173 million, marking a 54% rise and the highest level since Q2 2022. Key players like Franklin Templeton are paving the way for further developments on Solana.
Price Outlook and Support Levels
Currently trading around $160, maintaining this support is crucial. AI-driven projections suggest a price range of $180 to $190 by year-end. However, failure to hold above $160 could lead to a deeper correction and increased investor concern.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.