Happycoin.club - Over the last 24 hours, the cryptocurrency Solana (SOL) has lost 6.9%, dropping to a minimum of $165, which is the lowest level since mid-December.
This decline is due not only to Bitcoin's plunge into the $93,000-94,000 range but also to the scandal involving the LIBRA meme coin based on this blockchain.
Seven-day price chart of Solana. Source: CoinGecko
To clarify the future of SOL, the AI-based forecasting tool updated its price forecast for the crypto asset. Considering technical indicators and market data, the model predicts an average price of SOL on March 1 at $170.38.
AI Price Forecast for Solana
The most optimistic forecast proposed by GPT-4o suggests a rise of 11.48% to a level of $190. This scenario depends on an increase in Solana's network activity, growing interest in a potential Solana-based ETF, and the recovery of the entire cryptocurrency market.
Claude 3.5 Sonnet made a bearish forecast, predicting a drop of 10.09% for SOL to a mark of $153. The decline is justified by weakening network metrics, including a 55% drop in active addresses since November and a decrease in transaction volume.
Additionally, the Solana network is preparing for a major token unlock, during which 15 million SOL worth $7 billion will come into circulation from February to April. If demand cannot absorb the increased supply, SOL will face intensified selling pressure in the upcoming months.
