Analysts predict Solana to reach $200 in 2024
January brought a mixed bag of gains and losses for the cryptocurrency market, and in this situation, Solana (SOL) has held firm and established a new support zone that could push the token price to higher levels.
Solana has shown a breakout from the bull flag as seen on the 4-hour chart. A sustained close above the $106 threshold could trigger a significant 47% rally, pushing SOL into the $150 to $165 price range, says crypto analyst Ali Martinez.
According to the expert, technical and fundamental indicators are inclined towards continued growth of Solana in 2024. With Solana's critical accumulation phase approaching $100, it appears the digital asset is poised for significant growth in the future.
Despite the latest failure, there are clear signs that SOL is preparing for an imminent breakout, with prospects for February looking promising in particular, according to cryptocurrency expert Jelle.
