The cryptocurrency market seems to be entering another bullish phase. Bitcoin (BTC) has reclaimed the $120,000 mark once again, and the global crypto market cap has risen 1.5% in the last 24 hours to $4.24 trillion. Solana (SOL) is also following the market-wide upswing. According to CoinGecko data, SOL has rallied 2.3% in the last 24 hours, 18.4% in the last week, and 10.1% over the previous month. However, the platform highlights that the asset’s price has fallen 5.1% in the 14-day charts. In this price prediction article, let’s discuss if Solana (SOL) can finally breach the $300 mark this October.
Price Prediction: Will Solana Hit $300 In October?
Solana (SOL) has been among the most resilient crypto assets of the last few years. The asset’s price fell to below $9 after the collapse of FTX in 2022. Since its 2022 lows, SOL’s price has hit multiple all-time highs. SOL hit its most recent peak of $293.31 on Jan. 19 of this year. SOL’s price has fallen by 21.5% since its January peak.
There is a high chance that Solana’s (SOL) rally will continue over the coming weeks. Bitcoin (BTC) is the market leader, and other assets tend to follow its trajectory. BTC may be on its way to a new all-time high this month. October has historically been a bullish month for BTC. We may follow the historical pattern in 2025 as well.
Moreover, apart from being a historically bullish month, there is also a high chance that the Federal Reserve will announce another interest rate cut this month. Another rate cut could lead to a massive surge in risky investments. Solana (SOL) and the larger crypto market could experience a massive breakout under such circumstances.
Also Read: Solana: Will SOL Surge in Q4 After Latest ETF Filing?
Some spot ETF news is also expected later this month. The SEC has to decide on its Bitwise and 21Shares Solana ETF by Oct. 16. An ETF approval could send SOL’s price through the roof. Such a development could lead to Solana (SOL) finally breaching the $300 mark.