According to ChatGPT, Solana price will reach this target by December 31, 2024

Despite its undeniable successes in the cryptocurrency market, Solana (SOL) was hit hard by the stagnation that set in as investors’ initial euphoria over Donald Trump’s victory faded.

After starting at $157.61 on the eve of the election, the SOL rose 63.22% to $257.25 on November 21 before correcting towards $230 and entering a period of Volatility and decline occurred.

Despite falling to $229.61 as of press time on December 12, Solana remains in the green at 10.46% over the past 30 days and 58.05% over the past 6 months, and cryptocurrency investors remain optimistic for the coming months.

Given these circumstances, Finbold decided to consult ChatGPT-4o’s advanced artificial intelligence (AI) to find out whether the rally will reignite by December 31st or whether traders have an even better opportunity to buy on a decline.

ChatGPT sets SOL price target for December 31st

Although ChatGPT slightly misjudged Solana’s price at $231.49 at press time, ChatGPT quickly assessed the overall situation positively. In particular, the AI ​​identified a number of developments that are critical to SOL continuing to enjoy strong tailwinds.

According to ChatGPT, these include the overall dynamics of the crypto market, institutional acceptance, high network activity, technical developments and tools such as game shift, and the positive investor sentiment generated by expected regulatory changes and Bitcoin (BTC) reaching $100,000.

Still, AI’s December 31 price target proved conservative, as it estimated SOL at $250 won’t reach its 2024 highs before the New Year.

Crypto analysts are increasingly bullish on Solana

While ChatGPT proved optimistic but cautious about Solana’s future, various cryptocurrency analysts – whether prominent voices on X or community members – have simply become bullish recently.

Several exams posted on TradingView from several prolific traders and experts such as: Shadow figure, LOWCO_487And basictradingtv, All have acknowledged some uncertainty about SOL’s future direction in recent days, but have also all concluded that Solana is poised for a sustained uptrend.

The analyzes were based on numerous technical factors, including the token’s crucial consistency in trading above the 200-day simple moving average (MA), momentum relative to critical support and resistance zones, volume and the fact that – depending on the Exact Timing Frames Used – Solana formed a number of positive patterns including a bullish pennant and a bullish falling wedge.

Perhaps the most positive assessment, however, came from popular on-chain analyst Ali Martinez, who opined in a Dec. 10 X post that SOL had formed a major cup-and-handle pattern that would eventually allow the cryptocurrency to break through will fetch up to $4,000 – 1,642.08% above the price at press time.

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