Solana claims $70, will SOL turn bullish?

Solana’s (SOL), following the market’s reversal of sentiment, has reclaimed the price level of $70 after its recent drop to $60. CoinGecko data SOL has seen its price rise by 8.5% in the past week and 4.6% over the last 24. SOL has still fallen by almost 20% on the monthly charts despite its recovery. We’ll discuss the factors that are driving Solana (SOL) and whether or not it could turn bullish.

How long can Solana continue to rally?

Solana (SOL), the latest rise in Solana (SOL), coincides with Bitcoin’s (BTC) return to $65,000. Inflows into the cryptocurrency market have been rekindled after an agreement between Iran and the US was announced. This deal will be finalized on June 19th, 2026. The President Trump announced that the Strait Of Hormuz was now open without tolls. Oil prices have already dropped as a result of the move. Inflation could be slowed if oil prices stay low. A similar development could result in lower interest rates. Low rates may benefit high-risk investments, like Solana (SOL), and other cryptocurrency.

You still need to be cautious. Although announced, the peace agreement has not yet been signed. Solana’s (SOL), if the peace deal does not go through, may experience another price adjustment.

There has also been a liquidation drain, which is attributed by many to the recent SpaceX IPO. Anthropic, OpenAI and other IPOs will be held later this year. It is possible that liquidity will remain absent from the crypto market for some time. AI stocks have consumed a lot of capital over the past few months. This trend has been growing for several years.

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Thirdly, there is still a lot of volatility in the cryptocurrency market. Solana, (SOL), may have seen some gains in the market today but overall it is still in bearish territory. The price could change at any time.