2024

bullish

Solana

<p>Solana (SOL) had a remarkable year in 2024, with a price increase of 117% since the beginning of the year. As we enter December, crypto analysts are wondering if this bullish trend will continue and whether Solana will reach new all-time highs.</p>
<h2 id="forecasts-for-solana-in-december-2024-towards-new-heights">Forecasts for Solana in December 2024: Towards New Heights?</h2>
<p>The year 2024 has been marked by explosive growth for Solana, <a href="https://www.cointribune.com/en/solana-reaches-its-all-time-high-what-to-expect-technical-analysis-of-november-27-2024/" target="_blank" rel="noopener noreferrer nofollow">reaching all-time highs</a> and generating considerable interest on social media. Solana’s social dominance, which measures the level of discussions surrounding the crypto compared to other assets, currently stands at 6.09%. This increase in social dominance is often an indicator of market optimism, although prolonged periods without corresponding price gains may signal speculative fatigue.</p>
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<p>Additionally, on the daily chart, Solana displays a bullish flag pattern, a continuation pattern characterized by a strong rise followed by consolidation. This pattern suggests that Solana could aim for $300 in December if the bullish momentum holds. However, this forecast depends on several factors, including Bitcoin’s ability to stay above $94,000. If the leading crypto fails to maintain this level, optimism may decrease, pushing <a href="https://www.cointribune.com/quest-ce-que-solana-sol/" target="_blank" rel="noopener noreferrer nofollow">SOL</a> toward a potential support at $214.99.</p> 
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SOLUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script>
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  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:SOLUSD","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script>
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 <div class="tradingview-widget-copyright"><a href="https://fr.tradingview.com/symbols/SOLUSD/?exchange=BINANCE" rel="noopener noreferrer nofollow" target="_blank"><span class="text-primary-color">SOLUSD chart</span></a> by TradingView
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<h2 id="h-what-do-crypto-analysts-say">What Do Crypto Analysts Say?</h2>
<p>Analysts express mixed feelings about Solana’s future. Brian Quinlivan from Santiment highlighted a notable decline in sentiment around SOL, which could influence its performance in December. Quinlivan sees this trader skepticism as a potential catalyst for a rebound, provided of course that Bitcoin remains stable. Raoul Pal shares this optimism, predicting that Solana could reach a new all-time high if market conditions remain favorable. Additionally, crypto analyst Rekt Capital <a href="https://x.com/rektcapital/status/1861027562983448940?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">recently noted</a> a “historic weekly close” above the critical resistance level of $250.</p>
<p>As for Ryan Lee, chief analyst at Bitget, he finds SOL’s December price of $300 rather reasonable. He explains why:</p>
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 <p>Technical analysis indicates that SOL has formed a classic cup-and-handle pattern, a strong bullish signal. The current breakout could drive prices toward higher targets, with short-term goals set between $200 and $280. Based on the depth of the cup-and-handle pattern, a target price of $300 appears reasonable and attractive.</p>
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<p>In summary, the forecasts for Solana in December 2024 are optimistic, with analysts suggesting that the crypto could reach $300 if market conditions are favorable. However, SOL’s performance will largely depend on <a href="https://www.cointribune.com/en/bitcoin-ethereum-ripple-3-scenarios-to-watch-this-week/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s stability</a> and market sentiment. Investors will need to closely monitor these factors to assess potential opportunities and risks.</p>

Solana: A Record Year, But Will December 2024 Live Up To Its Promises?

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