Solana (SOL) appears to be following the crypto market rebound, rallying 2.7% within the final 24 hours, 14.6% within the earlier week, and 12.2% within the 14-day charts. This worth prediction information will cowl the subject completely.
Regardless of the rally, SOL continues to be down within the month-to-month charts, falling 13.2% within the final 30 days. Let’s decide how excessive the asset can go within the final week of August.
SOL Worth Prediction for August Finish 2024
CoinCodex Evaluation
Based on CoinCodex analysts’ worth predictions, Solana (SOL) could consolidate round its present ranges in the intervening time. The platform anticipates the asset to commerce at $162.30 on Aug. 31, 2024.
CoinCodex analysts predict SOL will rally within the second week of September, hitting $183.10 on Sept. 17, 2024. Reaching $183.10 from present ranges would translate to a rally of about 13.21%.
Changelly Evaluation
Changelly researchers are barely bearish on SOL, predicting the asset to dip over the following few days. The platform expects the asset to commerce at $157.31 on Aug. 31, 2024, a fall of about 2.73% from present costs.
Market Elements Influencing SOL
SOL may additionally proceed surging over the following few days. The Federal Reserve has introduced that it’s going to start reducing rates of interest in September 2024.
The transfer could instil confidence in buyers and merchants to pour cash into dangerous belongings, comparable to cryptocurrencies.
Potential Market Correction
Alternatively, the crypto market is exhibiting indicators of slowing down. Bitcoin (BTC) briefly reclaimed the $64,000 mark however has since fallen to $63,000.
The entire market could face one other correction if the unique cryptocurrency dips additional. Property like Solana (SOL) could face an analogous scenario in such a growth.
