Solana

Daily

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solanas-price-surge-what-drives-it/" data-wpel-link="internal">Solana’s Price Surge: What Drives It?</a><br></p>
<p style="text-align: justify">While a significant bull-bear struggle occurs in cryptocurrencies, <a href="https://en.coin-turk.com/insights-on-solanas-technical-analysis-and-potential-price-movements/" data-wpel-link="internal">Solana</a> (<a href="https://en.coin-turk.com/how-did-solanas-price-react-to-market-shifts/" data-wpel-link="internal">SOL</a>) proves to be no exception. Despite its large market value and incredible price fluctuations, artificial intelligence was optimistic about SOL.</p> 
<h2 style="text-align: justify" id="how-much-will-solana-coin-be-worth">How Much Will Solana Coin Be Worth?</h2> 
<p style="text-align: justify">Following the 2022 FTX incidents, SOL, which had nearly collapsed, recovered and dominated the market throughout the remainder of 2023 and into 2024, making a significant impact with itself and meme coins.</p> 
<p style="text-align: justify">While all this was happening, the advanced prediction algorithms used by the cryptocurrency tracking platform PricePredictions, indicated an optimistic price forecast of $147.11 for Solana by May 31, 2024, based on the latest data available on May 3.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-347567" src="https://coin-turk.com/wp-content/uploads/2024/05/sol-fiyat-tahmin-coin-turk-com.png" alt="" width="519" height="359"></p> 
<p style="text-align: justify">If the price prediction proves accurate, using technical analysis (TA) indicators like the moving average convergence divergence (MACD) and the relative strength index (RSI), a positive price movement could result in a 3.7% rise from Solana’s current price level.</p> 
<h2 style="text-align: justify" id="solana-coin-commentary">Solana Coin Commentary</h2> 
<p style="text-align: justify">As of now, based on the latest data from May 3, Solana seems to be reversing a 3.21% loss over the last seven days and a cumulative price drop of 24.40% from the previous month. Daily chart reviews show SOL gaining 3.73% in value, rising to $142.46.</p> 
<p>Solana’s market cap has increased by 3% during this period, surpassing $63.5 billion, while there has been a noticeable decline in the 24-hour trading volume, which stands just above $3 billion after a 24% drop.</p> 
<p style="text-align: justify">On the other hand, cryptocurrency analyst Jacob ‘<a href="https://en.coin-turk.com/bitcoins-price-response-to-employment-data-and-etf-inflows/" data-wpel-link="internal">Crypto</a>‘ Bury shared his analysis under a post on X on May 2. He predicted that Solana could experience a three to four-fold increase by 2024.</p> 
<p style="text-align: justify">Especially today, with a total cryptocurrency market value of $2.16 trillion, SOL is predicted to hold about 2.8% dominance.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-347568" src="https://coin-turk.com/wp-content/uploads/2024/05/2-16-solana-coin-turk-com.png" alt="" width="332" height="384"></p> 
<p style="text-align: justify">As we reported on April 28, various factors are known to influence SOL’s price. It is also worth noting that several large whale transactions involving a total of 22 million SOL tokens occurred over different time frames in recent days.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solanas-price-surge-what-drives-it/" data-wpel-link="internal">Solana’s Price Surge: What Drives It?</a></h5>

Solana’s Price Surge: What Drives It?

Table of Contents

COINTURK NEWS

Other articles published on May 3, 2024

Major Analysts Predict: $6 Trillion Investors on Standby, Bitcoin (BTC) Move Could Be Imminent

Lido DAO Boosts Ethereum Staking Options

VET Prints Possible 500% Price Boom as VeChain Answers Aching Question of Why 2 New Tokens with V...

Roger Ver, a Prominent Early Bitcoin Investor, Faces Charges for Alleged Tax Evasion

Dutch police arrest suspect in $30 million ZKasino scam

2 Under $5 Crypto To Buy As Bitcoin Price Aims $80,000

Join our free newsletter for daily crypto updates!