How Low Could Solana Price Drop By The End Of December?

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As a seasoned crypto investor with a knack for navigating market fluctuations and a portfolio that has weathered many storms, I find myself cautiously optimistic about Solana’s immediate future. The recent price correction, as predicted by analysts like Crypto Sensei and Fred, is not unfamiliar territory for me. I’ve seen similar dips in the past, only to witness significant recoveries and new all-time highs.

As a researcher, I’ve observed a substantial downturn in Solana’s price since it peaked at its all-time high (ATH) of $263 in November. Predictions indicate this correction may persist in the near future, as a crypto analyst has suggested that Solana might experience further drops before the year concludes.

How Low Solana Price Could Drop

In a recent post on X, the crypto expert known as Crypto Sensei proposed that the price of Solana might decrease to around $167 by the end of this year. This prediction was based on his belief that Solana is on track to hit its 200 Exponential Moving Average (EMA) mark.

As a crypto investor, I’ve been keeping an eye on the charts and it appears that the 200 EMA is currently sitting at approximately $167. This could potentially signal a price drop before the end of the year. Such a correction might further diminish Solana’s impressive year-to-date (YTD) growth, which stands around 85%.

In a recent analysis on X, crypto expert Fred predicts that the Solana price might fall even more by the end of this year. He notes that Solana (SOL) is currently facing a critical juncture.

According to the analyst’s accompanying graph, the leading cryptocurrency may dip down to around $162 if the current trend persists. Yet, even with the possibility of a downtrend, this crypto expert predicts that Solana (SOL) has sufficient momentum for another price surge of over $300 within the next few months.

More Room For Growth

Although there’s a pessimistic view on Solana’s price, it’s clear that the leading cryptocurrency possesses significant potential for growth in the near future, as Fred pointed out. Various predictions suggest that SOL may surpass its current all-time high by next year.

According to asset manager VanEck, it’s anticipated that the price of Solana could reach $500 within the coming year. This significant increase is expected due to the growing adoption of scalability, decentralized finance (DeFi), and non-fungible tokens (NFTs) within the Solana network.

According to Bitwise, there’s a stronger possibility that the price of Solana could surge up to $750 by next year, given that more significant projects are expected to join its platform.

At present, with the market moving horizontally, crypto expert Lucky thinks it’s a great time to build up more SOL. He stated that the cryptocurrency is currently within a buying range. Furthermore, he predicts that Solana might climb to between $400 and $500 during this cycle.

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2024-12-26 19:57