2024

Solana

Trillion

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 <p class="paragraph">As the larger part of the cryptocurrency sector is witnessing the struggle between bears and bulls, Solana (SOL) is no exception, with bulls seemingly in the lead for the fifth-largest digital asset by market capitalization and artificial intelligence (AI) algorithms retaining optimism.</p>
 <p class="paragraph">Indeed, Solana has moved in the red for the past few weeks but has nonetheless managed to sustain a steady advance since the year’s turn thanks to the surge in blockchain projects on its platform and despite the (now resolved) network issues like congestion.</p>
 <h2 class="wp-block-heading" id="h-solana-price-prediction">Solana price prediction</h2>
 <p class="paragraph">In such a context, advanced algorithms used by crypto monitoring platform <em>PricePredictions</em> have remained moderately optimistic, projecting that Solana would reach the price target of $147.11 by May 31, 2024, as per the most recent data on May 3.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image size-full"><img decoding="async" width="876" height="618" src="https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp" alt="Solana price prediction 30-day chart. Source: PricePredictions" class="wp-image-173644" srcset="https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 876w, https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 300w, https://cdn.thebittimes.com/images/2024/05/03/02984a98969f48b82c2af75460e11957.webp 768w" sizes="(max-width: 876px) 100vw, 876px">
  <figcaption class="wp-element-caption"><em>Solana <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> prediction 30-day chart. Source: </em><em>PricePredictions</em>
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 <p class="paragraph">As it happens, such a positive predicted change would represent a gain of 3.7% to Solana’s current <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>, provided that the projections, based on technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> (TA) indicators such as moving average divergence convergence (MACD), relative strength index (RSI), and others, are correct.</p>
 <h2 class="wp-block-heading" id="h-solana-price-analysis">Solana price analysis</h2>
 <p class="paragraph">For now, Solana is changing hands at $141.92, gaining 3.73% on its daily chart, as it moves to reverse the 3.21% loss from across the previous week, and the accumulated decline of 24.40% in the past month, according to the most recent <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> data on May 3.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="750" height="496" src="https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp" alt="Solana price 24-hour chart. Source: Finbold" class="wp-image-173646" srcset="https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp 750w, https://cdn.thebittimes.com/images/2024/05/03/255a64aab97da5f7082a849524a1a594.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>Solana price 24-hour chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Meanwhile, crypto analyst Jacob ‘Crypto’ Bury has recently predicted that Solana could rise three to four times in 2024, particularly as at the time it had a 2.8% dominance in the overall crypto market valued at $2.16 trillion, according to the analysis he shared in an X post on May 2.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Here is why $SOL could be headed for another 3-4X at least from these <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s – remember #solana has already indeed done a 6X (or more, depending on entry) from the lull of 2023.$SOLANA currently has 2.8% dominance of the overall crypto markets that are valued at $2.16T<br><br>Even if… pic.twitter.com/KJ8NoOLEBw</p>— Jacob Crypto Bury (@BuryCrypto) May 2, 2024
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 <p class="paragraph">It is also worth mentioning that one of the factors that could impact the <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of SOL is the activity of its largest holders, a.k.a whales, which have recently carried out a couple of massive transfers within hours of each other, involving a total of 22 million SOL tokens, as Finbold reported on April 28.</p>
 <p class="paragraph">Ultimately, the asset might continue to improve its price toward the target set by the AI algorithms but, at the end of the day, making a definite Solana price prediction is difficult, particularly as things in this industry can sometimes change on a whim, so doing one’s own due diligence is adamant.</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>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ai-sets-solana-price-for-may-31-2024-tbt87351.html">https://thebittimes.com/ai-sets-solana-price-for-may-31-2024-tbt87351.html</a></p>

AI sets Solana price for May 31, 2024

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