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Despite a temporary setback for the larger part of the cryptocurrency market, machine learning and artificial intelligence (AI) algorithms are relatively optimistic about the price of Solana (SOL), predicting a significant recovery by the end of the next month.
As it happens, Solana could improve its price during February, reaching $106.29 by February 29, 2024 – at least this is what advanced price projection algorithms have predicted, as per the information retrieved on January 31.
Solana 1-month price prediction. Source: CoinCodex
Indeed, if the machine algorithm’s above prediction, calculated using the historical Solana price trends and accounting for past volatility and market movements, becomes a reality, the price of the fifth-largest asset in the crypto sector would increase by 7.1% from where it stood at press time.
Solana 1-month sentiment gauges. Source: TradingView
All things considered, the machine learning algorithms could be correct, and Solana might improve its price in the near future, especially as $4 billion has flown into its market cap in a single week, and the network has experienced increased activity, as Finbold reported on January 29.
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