2024

Solana

Defi

CRYPTO

<div class="finbold">
 <p class="paragraph">Even though the bullish sentiment in the wider cryptocurrency sphere has started to slow down, many assets are not yet losing steam, including Solana (SOL), which has continued to trade green on its daily chart, and machine learning and artificial intelligence (AI) <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>s <a rel="noopener noreferrer nofollow" title="predict" href="https://thebittimes.com/tag/predict.html">predict</a> more advances.</p>
 <p class="paragraph">Specifically, Solana might continue to grow its price during March, perhaps reaching the level at $149.18 by March 31, 2024, according to the most recent forecast by the advanced machine learning algorithm over at the crypto analytics platform <em>PricePredictions</em> retrieved on March 7.</p>
 <figure class="wp-block-image"><img decoding="async" width="865" height="617" src="https://cdn.thebittimes.com/images/2024/03/07/10843166468b54eccac6e565aabfe7c4.webp" alt class="wp-image-159279" srcset="https://cdn.thebittimes.com/images/2024/03/07/10843166468b54eccac6e565aabfe7c4.webp 865w, https://cdn.thebittimes.com/images/2024/03/07/10843166468b54eccac6e565aabfe7c4.webp 300w, https://cdn.thebittimes.com/images/2024/03/07/10843166468b54eccac6e565aabfe7c4.webp 768w" sizes="(max-width: 865px) 100vw, 865px">
  <figcaption class="wp-element-caption"><em>Solana 1-month price forecast. Source: </em><em>PricePredictions</em>
  </figcaption>
 </figure>
 <p class="paragraph">Indeed, should the algorithm based on indicators such as moving average convergence divergence (MACD), average true range (ATR), Bollinger Bands (BB), relative strength index (RSI), and others prove correct, it would mean an increase of 6.98% for the fifth-largest crypto asset by market capitalization.</p>
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 <h2 class="wp-block-heading" id="h-solana-<a rel=" dofollow title="price" href="https://thebittimes.com/tag/price.html" rel="noopener noreferrer nofollow">price-<a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>"&gt;Solana <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a></h2>
 <p class="paragraph">Currently, Solana is changing hands at the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of $139.46, suggesting an increase of 6.38% on the day, as well as gaining 8.80% in the last week and pushing upwards 48.59% on its monthly chart, according to the latest data obtained by Finbold on March 7.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="750" height="497" src="https://cdn.thebittimes.com/images/2024/03/07/0dd230055ec96facb09bc1a71c5194e3.webp" alt class="wp-image-159291" srcset="https://cdn.thebittimes.com/images/2024/03/07/0dd230055ec96facb09bc1a71c5194e3.webp 750w, https://cdn.thebittimes.com/images/2024/03/07/0dd230055ec96facb09bc1a71c5194e3.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Solana 30-day price chart. Source: </em><em>Finbold</em>
  </figcaption>
 </figure>
 <p class="paragraph">At the same time, the sentiment on Solana’s 1-week technical analysis (TA) gauges is exceptionally bullish, suggesting a ‘strong buy,’ based on oscillators in the ‘buy’ zone at 2 and moving averages (MA) pointing at a ‘strong buy’ at 12, as per the recent <em>TradingView </em>data.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="1600" height="473" src="https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp" alt class="wp-image-159281" srcset="https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp 1600w, https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp 300w, https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp 1024w, https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp 768w, https://cdn.thebittimes.com/images/2024/03/07/de0fc9a6de6085a84b9b2c4e1e6adc8e.webp 1536w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption"><em>Solana 1-week technical gauges. Source: </em><em>TradingView</em>
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="h-bullish-factors">Bullish factors</h2>
 <p class="paragraph">It is also worth noting that Solana has recently broken out of an ascending triangle it has been making for over two months, “retested in uncomfortably deep and then turbo-bounced,” and it could take off “HARD from here,” as observed by crypto analyst <em>CryptoJelleNL </em>on March 6.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="625" src="https://cdn.thebittimes.com/images/2024/03/07/d2ca5071d0adc29fb3fc08c1cba3f552.webp" alt class="wp-image-159283" srcset="https://cdn.thebittimes.com/images/2024/03/07/d2ca5071d0adc29fb3fc08c1cba3f552.webp 1024w, https://cdn.thebittimes.com/images/2024/03/07/d2ca5071d0adc29fb3fc08c1cba3f552.webp 300w, https://cdn.thebittimes.com/images/2024/03/07/d2ca5071d0adc29fb3fc08c1cba3f552.webp 768w, https://cdn.thebittimes.com/images/2024/03/07/d2ca5071d0adc29fb3fc08c1cba3f552.webp 1410w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Solana price action analysis since November 2023. Source: </em><em>CryptoJelleNL</em>
  </figcaption>
 </figure>
 <p class="paragraph">On top of that, Solana has also been recording impressive results in other areas, including achieving the best week ever in terms of volumes on Solana-based decentralized exchanges (DEXs), having reached $11.24 billion between February 25 and March 2, as Finbold reported.</p>
 <figure class="wp-block-image"><img loading="lazy" decoding="async" width="1024" height="404" src="https://cdn.thebittimes.com/images/2024/03/07/7ab04a54e439d341a476f46a48ff1f79.webp" alt class="wp-image-159278" srcset="https://cdn.thebittimes.com/images/2024/03/07/7ab04a54e439d341a476f46a48ff1f79.webp 1024w, https://cdn.thebittimes.com/images/2024/03/07/7ab04a54e439d341a476f46a48ff1f79.webp 300w, https://cdn.thebittimes.com/images/2024/03/07/7ab04a54e439d341a476f46a48ff1f79.webp 768w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Solana-based DEXs volume. Source: </em><em>Defi Llama</em>
  </figcaption>
 </figure>
 <p class="paragraph">All things considered, Solana could, indeed, increase its <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> to reach the machine <a rel="noopener noreferrer nofollow" title="algorithm" href="https://thebittimes.com/tag/algorithm.html">algorithm</a>’s target as long as it keeps its bullish momentum and positive developments like the fresh wave of on-chain activity. However, things could easily change in this sector, so detailed research is critical.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/machine-algorithm-predicts-solana-price-for-march-31-2024-tbt81860.html">https://thebittimes.com/machine-algorithm-predicts-solana-price-for-march-31-2024-tbt81860.html</a></p>

Machine algorithm predicts Solana price for March 31, 2024

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