The cryptocurrency market seems to be recovering from the recent dip. Bitcoin (BTC) has reclaimed the $58,000 level. The global crypto market cap has also risen 1.2% in the last 24 hours to $2.14 trillion. Solana (SOL) also follows the recovery trend, rallying 2.6% in the daily charts and 1% over the previous week.
Despite the slight rally, SOL is still down by 6.8% in the 14-day chart and 7.8% over the last month. In this price prediction article, let’s explore how high SOL’s price might go over the coming weekend.
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SOL Price Predictions And Market Analysis
Changelly’s SOL Price Prediction
According to Changelly data, Solana (SOL) could dip to $132.19 on Sunday, Sept. 15, 2024. A fall of about 1.97% would result. Despite the bearish outlook, Changelly analysts anticipate SOL rising to the $140 level by the end of the month.
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CoinCodex’s SOL Price Prediction
CoinCodex analysts, on the other hand, predict SOL will climb to $135.17 on Sunday, Sept. 15, 2024. Hitting $135.17 from current levels will entail a rally of about 0.24%.
CoinCodex analysts also anticipate SOL will gain momentum over the next few weeks and breach the $140 level by the end of the month. The platform predicts SOL will hit $143.37 on Sept. 30, 2024.
Market Environment And Potential Impact On SOL Price
Given a favourable market environment, Solana’s (SOL) price could climb higher than forecasted. Inflation in the US came in at 2.5% in August, lower than expectations.
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The Federal Reserve has also announced interest rate cuts from this month. Both developments could lead to a spike in risky investments, such as cryptocurrencies. In such a scenario, SOL’s price could go higher than $140 by the end of this month.