Solana price has experienced a significant correction since the record high of $263 reached in November. Crypto analysts’ predictions indicate that the price decline may continue in the short term.
How Much Can Solana Price Drop?
Crypto analyst Crypto Sensei stated in a post that Solana’s price could drop to $167 by the end of December. The analyst stated that Solana is moving towards the 200 Exponential Moving Average (EMA) level.
“I think the Solana price may drop to $167 by the end of December.” – Crypto Sensei
On the chart followed by the analyst, this shows the 200 EMA level at $167.
Another crypto analyst, Fred, also stated in his post that Solana’s price carries a risk of falling further by the end of the year. Fred stated that SOL was approaching a critical decision time.
The LEFT is close to a critical decision.
SOL Coin Review
Despite its negative outlook, it was stated that there are significant upward opportunities for Solana’s price. VanEck predicted that Solana would reach $500 next year, while Bitwise predicted that the price would rise to $750.
Asset management firm Lucky stated that the current sideways moving market environment offers the opportunity to buy more Solana.
“Solana is in the buy zone and I predict it could reach a level between $400 and $500 this cycle.” –Lucky
Different opinions of analysts show that although Solana may experience fluctuations in the short term, it has growth potential in the long term. The general condition of the market and technological developments may affect Solana’s future price movements.
Latest evaluations indicate that Solana can continue to have an important position in the crypto market thanks to its flexibility and innovative projects.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
