Solana (SOL) has faced a sharp correction over the last few days. The token reached a high of around $123.68 on Dec. 25, 2023, but has been on a downward trajectory since. SOL is down by 5% in the last 24 hours, 12.8% in the weekly charts, and over 20% in the previous 14 days. However, the token is still up by over 20% in the monthly charts and over 570% since January 2023.
Also Read: Solana: Will SOL Reclaim its All-Time High of $259 in 2024?
Solana (SOL) is one of the best-performing cryptocurrencies of 2023. During the end of December 2023, SOL was up by over 1000% since January. However, the gains have significantly evaporated as the market underwent a correction. Other altcoins have also taken a steep dive. XRP is down by 8.5% over the last week, while Cardano (ADA) is down by 18.2% in the same time frame.
Solana (SOL) price prediction for mid-January 2024
According to Changelly, SOL’s price could surge to $99.07 on Jan. 10, a rise of about 11% from current levels. The platform also anticipates SOL to trade between $90 and $105 throughout January, hitting $103.28 on Jan. 15, 2024. The price rise would translate to a growth of about 15.72% from current levels.
CoinCodex also paints a similar outlook for Solana (SOL). According to the platform, SOL’s price could reach $103.44 on Jan. 15, 2024, a similar prediction to Changelly’s. However, CoinCodex anticipates SOL to breach the $100 mark on Jan. 10, reaching $102.02. CoinCodex predicts SOL to trade between $90 and $105 for the rest of the month.
Also Read: Solana (SOL) Planning $10 Million Expansion Into Brazil
However, if the US SEC (Securities and Exchange Commission) approves one or more spot Bitcoin (BTC) ETFs (Exchange Traded Funds), then we may see a sudden surge in crypto prices. In such a scenario, SOL’s price may hit a new peak.
