Solana (SOL) has dipped 1.4% in 24 hours, 12% over the earlier week and 9.4% within the 14-day chart. Nonetheless, the asset continues to be up by 4.4% during the last month and 886.4% since June 2023.
SOL’s newest correction introduced its worth to round $152. This degree was beforehand examined in mid-Could 2024. The worth dip could possibly be on account of buyers changing 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 reduce have light since early 2024.
Will Solana (SOL) reclaim $170?
In line with the info from CoinCodex, SOL could consolidate round its present worth degree for the rest of this month. Nonetheless, 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 development 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 development of practically 86%. Nonetheless, 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 could possibly be the potential approval of a spot ETF (Trade Traded Fund). There are a variety of rumors on-line that the US SEC (Securities and Trade Fee) could greenlight a spot SOL ETF later this 12 months, following its resolution to approve Bitcoin (BTC) and Ethereum (ETH) ETFs.
