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Make a forecast of the Solana price

Make a forecast of the Solana price

Feb 12, 2024

The forecast for Solana's price in 2024 is of significant interest among investors and cryptocurrency market analysts. Thanks to its technological innovations and unique offerings, Solana has become one of the leading cryptocurrencies, attracting attention from a wide audience. Recently, activity around Solana has intensified due to various events, including spikes in interest in meme coins, temporary network outages, and a noticeable increase in Total Value Locked (TVL), highlighting growing trust and interest in the Solana ecosystem.

Since the market recovery began in late January, Solana's price has shown impressive growth, bouncing back from $79 and reaching $108.5, reflecting a 37% increase in three weeks. This growth has been accompanied by an exponential increase in the network's TVL, exceeding $1.85 billion, indicating increased interest in the platform and its potential for further adoption and investment.

An analysis of the daily chart shows the formation of an inverse head and shoulders pattern, which is a sign of a bullish reversal and heralds a new stage of recovery. After breaking through the resistance level at $105, Solana's price has demonstrated a bullish impulse, which may indicate the possibility of further growth. If the coin holds above this support, further price increase of 24.5% is expected, potentially reaching $134.

Technical indicators such as Bollinger Bands and the Average Directional Index confirm an aggressive recovery impulse and sufficient buying momentum to sustain a prolonged recovery. These data indicate favorable prospects for Solana in the near future, highlighting its potential as one of the key assets in the cryptocurrency market.


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