As Altcoins Under Pressure, Solana Defies Market Downturn
The global cryptocurrency market was impacted by President Donald Trump’s declared tariffs on China, Canada, and Mexico, three significant trading partners. This resulted in a sell-off and increased pressure on altcoins to sell. Solana (SOL) saw sharp price declines as a result. Nonetheless, it is up 2.93% in the last 24 hours and trading at about $205.
To better understand Solana’s price movements as it struggles to remain strong, Finbold, the finance & crypto platform, has deployed its AI price prediction tool. The tool combines technical analysis models, macroeconomic indicators, and sentiment insights to generate daily price targets.
AI Predicts SOL Will Stay Above $200 by Valentine’s Day
Halfway through the month, Finbold’s AI tool combined predictions from several sophisticated models, including ChatGPT-4o, GPT-4o Mini, Claude 3.5 Sonnet, Claude 3 Opus, and Grok 2 Vision, to estimate short-term price swings of SOL for Valentine’s Day (February 14). With five AI models predicting an average price of $211.05, or a 2.63% growth in value, AI predicts that the SOL price will continue to be over $200 by the midway point of February.
With the largest anticipated move of an astounding 17.92%, Claude 3.5 Sonnet placed SOL at $242.50. With a proposed price shift of 3.34%, its Opus counterpart was less sanguine, while the sole AI model to forecast a decline was GPT-4o Mini. Interestingly, the AI predicts a slight uptick from now until February 14, indicating that SOL won’t have any further negative effects from the China tariffs.
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