Solana (SOL) has dipped 1.4% in 24 hours, 12% over the earlier week and 9.4% within the 14-day chart. Nevertheless, the asset remains to be up by 4.4% over the past month and 886.4% since June 2023.
SOL’s newest correction introduced its worth to round $152. This degree was beforehand examined in mid-Might 2024. The value dip might be as a result of traders turning into cautious earlier than the US FOMC (Federal Open Market Committee) assembly and the US inflation knowledge. Merchants’ hopes for an early rate of interest minimize have light since early 2024.
Will Solana (SOL) reclaim $170?
In keeping with the info from CoinCodex, SOL could consolidate round its present worth degree for the rest of this month. Nevertheless, the platform predicts the asset to reclaim the $170 degree in early July, hitting $172.24 on July 5, 2024. Reaching $172.24 from present ranges would translate to a progress of about 12.78%.
Finder paints a really bullish image for Solana (SOL) in 2024. The platform predicts SOL to hit a brand new all-time excessive of $284 this 12 months. Hitting $284 from present costs is a progress of practically 86%. Nevertheless, the platform doesn’t make clear when in 2024 the asset could rally to $284. At press time, SOL was down by over 41% from its all-time excessive of $259.96, which it achieved in November 2021.
One other bullish growth for SOL might be the potential approval of a spot ETF (Change Traded Fund). There are lots of rumors on-line that the US SEC (Securities and Change Fee) could greenlight a spot SOL ETF later this 12 months, following its choice to approve Bitcoin (BTC) and Ethereum (ETH) ETFs.