Solana (SOL) emerged as a top performer in 2023, with nearly 1000% growth. However, the popular crypto has faced a stark correction over the last 24 hours. SOL’s price has dipped to around $100, falling 8.5% in 24 hours and 4.3% in the weekly charts. Nonetheless, the token is still up by over 67% in the monthly charts and over 600% since January 2023.
Also Read: Solana Holds Steady Above $100; Will SOL Hit $130 Soon?
SOL’s incredible performance in 2023 led many to believe that the cryptocurrency will soon reclaim its all-time high of $259.96, which it attained in November 2021, over two years ago. However, the recent correction and reports of the SEC possibly rejecting a spot Bitcoin (BTC) ETF (Exchange Traded Fund) has caused investors to rethink their targets.
Can Solana (SOL) reclaim its all-time high in 2024?
SOL’s price took a massive hit in November 2022 after the collapse of FTX. The now-defunct exchange was bullish on SOL and had over $1 billion worth of the token in its coffers. After FTX imploded, SOL’s value began to spiral downwards. Nonetheless, the token made an incredible comeback in 2023, rejuvenating hopes of reclaiming its all-time high of $259.96.
Also Read: Solana: How High Can SOL Rise In January 2024?
According to Changelly, Solana (SOL) could hit a maximum price of $184.6 in 2024, which it may attain by December. The platform anticipates SOL to breach the $250 level sometime in December 2025, almost two years from now. Moreover, it expects SOL to hit a new all-time high by May 2026, about two and a half years from now.
Telegaon also paints a similar picture for SOL. The platform anticipates a maximum price of $165.16 in 2024. However, Telegaon does not clarify when it expects SOL to reach this level. Moreover, like Changelly, Telegaon predicts SOL to hit a new all-time high sometime in 2026.
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