The cryptocurrency market continues its descent, with Bitcoin (BTC) dipping under $58,000. The worldwide crypto market cap has fallen 2.2% within the final 24 hours to $2.17 trillion, and value predictions recommend additional declines could also be on the horizon.
Solana (SOL) is following BTC’s downward journey, falling 4.5% within the every day charts, 4.9% within the weekly charts, 3.3% within the 14-day charts, and 22.6% over the earlier month. On this value prediction article, we’ll discover out SOL’s doable value this coming weekend.
Components Influencing Solana’s Worth and Weekend Predictions
Why Did The Present Market Dip Happen?
The present market dip might be as a consequence of low investor sentiment. There was a rise in Tether (USDT) holdings, signalling that traders are exchanging their crypto holdings for stablecoins.
The low market sentiment is stunning, provided that the Federal Reserve lately introduced rate of interest cuts from September 2024. A drop in rates of interest may enhance investments in dangerous property.
SOL Weekend Worth Prediction
CoinCodex’s Worth Prediction
In accordance with CoinCodex’s value prediction, Solana (SOL) will hit a value of $141.18 on Sunday, Sept. 1, 2024, an increase of about 2.11% from present value ranges. The platform expects SOL to consolidate round $140 at the start of the month earlier than witnessing a rally to $159.12 on Sept. 20, 2024.
Changelly’s Bullish Prediction
Changelly presents a extra bullish value prediction for SOL over this weekend. The platform anticipates the asset to hit $144.59 on Sunday, Sept. 1, 2024. Reaching $144.59 from present value ranges would translate to a rally of about 4.6%.
With the primary spherical of rate of interest cuts hitting merchants in September 2024, we could witness a sudden crypto market rally. Price cuts often result in traders taking up extra dangers, which may result in SOL going past what the platforms have predicted.
