The holiday season has certainly not been kind to the digital asset sector. Despite surging since early November, the last two weeks have seen a host of corrections take place. However, that shouldn’t slow the assets down too much, as Solana is one of many set to lead a comeback, with SOL eyeing a return to $200 after its recent 14% drop.
When Donald Trump won the 2024 presidential election, cryptocurrency’s skyrocketed. Yet they have seen the end of December curtail many of those gains. With Bitcoin retreating below $93,000, a host of tokens have followed. There are still high hopes for how these assets will perform in the coming year, with January likely to be the start of a tract back for the asset class.
Solana Eyeing Return to $200 After December Slide: But When?
No matter how you look at it, the digital asset sector experienced an unprecedented 2024. The year has seen a complete shift take place. The asset class has become a key part of global finance, establishing itself across various countries and institutions. That rise is seen no clearer than in Bitcoin’s ascension to a six-figure price for the first time in its existence.
However, things have come back down to earth in recent months. Mass crypto liquidations have plagued the market but have not diminished much of the gains established. Solana was among the most affected, but SOL is still set to target a return to $200 at some point in the coming year. The question is, when?
The asset has certainly struggled in recent weeks. Over the last 30 days, Solana is down more than 26%, according to CoinMarketCap. Moreover, at the start of the week, SOL had fallen nearly 14% to trade at its $188 level. Yet, the token was still up more than 84% since the start of the year and is looking to repeat that in 2025.
According to cryptocurrency price prediction platform CoinCodex, Solana has a bright twelve months ahead of it. Specifically, the platform projects SOL to regain $200 in January of next year. That is just the beginning for the sixth-largest cryptocurrency by market cap.
The cryptocurrency is targeting a surge to $435 by July of next year. That increase would represent a 136% jump from its current position. Interestingly, that is not likely to be the yearly high for the asset.
Alternatively, experts project SOL to reach a yearly high of $509 just two months later. That would mean if a trader invested in Solana right now, by August the token will have gained 171% according to the analysis expectations.
