 ▲ Solana (SOL) ©Coin Leaders |
Solana (SOL), the 5th largest cryptocurrency by market capitalization, lost 14% in value in a week due to the Bitcoin (BTC) bear market.
Solana's SOL coin, a strong competitor to Ethereum (ETH), is trading at $137.46 as of 10:29 a.m. on the 18th (Korean time), down 8.06% from 24 hours ago and 13.63% from a week ago, based on CoinMarketCap. .
According to cryptocurrency analyst Credible Crypto, Solana price is currently at a very critical point (make or break).
However, cryptocurrency analyst Ali Martinez said Solana faces a bullish outlook.
He said that the current Solana chart is showing an ascending triangle pattern, which is technically a bullish pattern, and that a rally may be in progress.
“Throughout 2024, Solana has emerged as a very competitive network in the digital asset space,” said Watchguru. “Solana is currently at its lowest price since May, but analysts predict it will surge by more than 50% in the short term,” he said.
Meanwhile, Finbold reported, “Despite obstacles from the U.S. Securities and Exchange Commission (SEC), Solana is considered a strong candidate for the next ETF due to its size and popularity.”
According to the media, OpenAI's new artificial intelligence (AI) model 'ChatGPT-4o' predicted that Solana is the cryptocurrency with the highest probability of receiving ETF approval among cryptocurrencies such as Cardano (ADA) and Ripple (XRP). .
Solana's advantages including scale, high throughput and low cost, integration, and widespread interest were cited as reasons for selection.
Based on the precedents of Ethereum and Bitcoin ETFs, ChatGPT predicted that if Solana is approved, the price will rise to $180-200 initially and $250-300 in the following months.
Solana's all-time high is $260.06, achieved on November 7, 2021.
