Solana (SOL) has shown impressive double-digit gains in October, its best performance in months. Analysts are predicting further upward momentum for the altcoin in November.
Solana’s price at present is $166, a 22% increase over 30 days. Trader Crypto General sees further gains, targeting a price of $290.
On the other hand, analyst Benjamin Cowen predicts that Sol/BTC may drop in the coming months, with a potential bounce in early 2025.
A positive Sharpe ratio and funding rate imply a bullish outlook for Solana in November, indicating that buyer interest is growing.
Despite recent price declines, Solana is trading above key support levels. Analysts predict a possible rebound towards $209.30, although failure to maintain support could see it dropping to $136.71.
