Chat bot ChatGPT has predicted the price of Solana (SOL) as of July 31, 2024

Now Solana is trading at around $139, but its price is constantly changing direction, so it is extremely important to analyze the factors that may affect the short-term dynamics of the asset.

For this purpose, an advanced artificial intelligence model from OpenAI ChatGPT-4o was used. The chatbot laid out its version of how the SOL will trade at the end of July, taking into account the key factors influencing the future trajectory of the SOL price.

Factors Affecting the SOL Price ChatGPT-4o highlighted several factors that could affect the SOL price. First, Solana's recent price movement has shown significant volatility. There was a sharp decline from $173 on June 5 to $124 on June 24, followed by a rebound to $154 on July 3 and a correction to $123 on July 5.

As of July 14, the Solana price has recovered above the $135 level, showing strong bullish momentum. Increased network activity and market optimism are likely to support further upside.

Besides, technical indicators also point to the continuation of the bullish trend. The Solana price has risen above the middle Bollinger line, which marks the 20-day simple moving average, reflecting the change in market sentiment. Moreover, the Relative Strength Index (RSI) at 49 is also suggesting the possibility of further upside.