Over the last month, Solana (SOL) has experienced a start decline, but a recent reversal of that 30-day fall has many anticipating a potential $200 price post-halving. Indeed, the asset has declined more than 20% over the last month, according to CoinMarketCap. Yet, that was countered by an increase as high as 9% today.
The network had received a much-needed upgrade to address congestion concerns. SUbseuqnlety, its meme coin market has also flourished. Altogether, these facets have countered SOL’s decrease of more than 31% over the weekend from its Friday high of $172.
Also Read: Solana (SOL) Weekend Price Prediction
Solana (SOL) Changing Course to $200 Post-Halving After Weekend Crash?
Throughout March, there were few networks as prominent as Solana. The ongoing meme coin mania that took place empowered a plethora of assets on the blockchain. Therefore, it had seen its DEX volumes surpass even that of Ethereum. In turn, that success greatly impacted the positive performance of its native SOL token.
However, those positive performances began to dwindle two weeks ago, specifically due to ongoing concerns over issues with the network and its 75% transaction failure rate. That reached its greatest concern when the asset fell from its Friday high of $172 to a low of $119 on Sunday.
Also Read: Solana Slowdown Can’t Stop Investor From Turning $530K to $6M
Yet, that has seemingly changed at the start of the week. Indeed, Solana (SOL) has reversed what it’s a 30-day downtrend today, which has ignited expectations for the asset to return to eh $200 level post-halving.
The Bitcoin halving event is expected to occur in less than a week. However, it is expected to have a massive impact on the digital asset market as a whole. With SOL increasing almost 10% at points Monday, a return to $155 at the end of today could prepare it for an ascension to its March high of $210.
The market has seen some positive developments increase optimism regarding Solana’s performance. Although its continued ascension is reliant on several factors, many in the community have expressed trust in its continued positive performance.