Solana (SOL) is currently the best-performing cryptocurrency among the top 10 projects, outshining the likes of Bitcoin (BTC) and Ripple’s XRP token. SOL’s price has rallied 7.2% in the daily charts, 3.5% in the weekly charts, 0.5% in the 14-day charts, and 8.7% since June 2024. Despite the rally, SOL’s price is down 6.2% over the previous month. BTC, on the other hand, has rallied only 0.6% in the daily and weekly charts. XRP has risen 1% in the last 24 hours, but has dipped 2.7% over the previous week.
Cryptocurrencies Gain Amid Uncertainty
The crypto market faced considerable uncertainty after recent global tensions. The Israel-Iran conflict led to significant market volatility. Solana (SOL) fell to the $142 mark on June 15. Bitcoin (BTC) fell to the $100,000 mark earlier this month.
The market seems to be recovering from the recent dip. BTC has since reclaimed the $106,000 level, and SOL has hit $156.60 today. We may see a continued rally over the coming days.
Will Solana Hit $180 Next?
SOL hit an all-time high of $293.31 earlier this year in January. The asset’s price has fallen by 46.7% since its January peak. SOL has struggled to gain momentum over the last few months. BTC seems to be the only cryptocurrency making significant upswings. Other assets seem to be facing substantial resistance.
According to Changelly, SOL may face a slight dip over the next month. The platform anticipates the asset to trade at $153.17 on July 15. SOL will face a 2.19% correction if it falls to $153.17.
Also Read: Solana: 3 Things That Can Take SOL To $500
SOL may not face a correction as predicted by Changelly. SOL could rally further if the market upswing continues. An interest rate cut from the Federal Reserve may lead to more risky investments. Such a scenario could lead to SOL reclaiming the $180 price point.