Solana (SOL), ranked as the fifth-largest cryptocurrency by market cap, is showing potential for a significant price rise, projected at 22%. This prediction comes after it successfully broke through a strong resistance level. Despite the upbeat outlook, there are concerns due to a considerable 33% price drop observed as the year closed.
As of January 3, 2024, Solana has been on a recovery trajectory, yet investor sell-off is causing unease in the market. The mixed signals have left traders watching closely, as the planned price target presents both opportunities and risks.
