IMPORTANT POINTS:
- Although Solana has seen declines in recent weeks, the AI is optimistic about the cryptocurrency for May.
- AI algorithms expect SOL to rise approximately 4% to $147 by the end of this month.
- Latest data revealed that SOL whales have been accumulating a large amount of tokens.
After a correction that dragged down the entire market, cryptocurrencies recovered on Friday and Solana was no exception.
Although SOL accumulated a weekly loss of 1% and has been under pressure in recent days, this Saturday it recovered 2.8% to trade at $144.
In this context, the AI of the PricePredictions platform has prepared an estimate positive on Solana for May 31, 2024.
In detail, he predicted that SOL would rise approximately 3% from current levels to close the month above $147.
Crypto analyst Jacob Bury is even more optimistic about the future of SOL, having already stated that the price of the altcoin would be multiplied by three or four for the end of this year.
His argument comes from the 2.8% market share that Solana currently has, something that could increase in the coming months. It should be remembered that SOL is currently the fifth largest cryptocurrency in the world.
The thing is that the large holders of SOL, called whales, have recently carried out transactions above the 22 million dollarswhich would indicate an advantage for the altcoin in the short term.
In any case, it will also be necessary to take into account the global economic context and the financial news that usually affects the price of cryptocurrencies. For example, the latest employment data in the United States made Bitcoin shoots up, dragging the entire market up.
