Solana (SOL) barely recovered over the weekend however didn’t breach the $140 mark. The asset has dipped 2.7% within the every day charts and 4.7% over the earlier month. Regardless of the dip, SOL is up by 1.9% within the weekly charts and 0.1% within the 14-day charts.
The weekend rally was doubtless fuelled by Bitcoin’s (BTC) transient rise to the $60,000 stage. The unique cryptocurrency has since fallen to the mid-$58,000 mark. On this value prediction article, let’s discover how excessive SOL could go this week.
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SOL Weekly Value Prediction
CoinCodex Evaluation
Based on the analysts at CoinCodex, Solana (SOL) could face a consolidation over this week. The platform anticipates the asset to proceed buying and selling across the present ranges for the rest of this week, hitting $131.80 on Friday, Sept. 21, 2024. CoinCodex expects SOL to rally subsequent month, breaching the $150 stage by mid-October.
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Changelly Prediction
Changelly researchers predict a slight rally for SOL this week. The platform anticipates the asset hitting the $136 mark and holding that stage in the interim. Reaching $136 from present ranges will translate to a rally of almost 3%.
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Market Components Influencing SOL Value
Provided that the Federal Reserve has introduced rate of interest cuts this month, Solana (SOL) could go greater than predicted this week. An rate of interest lower could set off a market-wide rally as traders improve their investments in dangerous belongings. If BTC breaches the $60,000 stage, different cryptocurrencies could observe its trajectory.
Alternatively, if the market doesn’t reply to the rate of interest lower, we could proceed to witness a value consolidation. On this situation, SOL could proceed to commerce beneath the $150 stage.