Solana’s (SOL), has dropped by 1.4% over 24 hours. It also fell by 12% in comparison to the week before and 9.4% on the chart for the last 14 days. The asset has still risen by 4.4% in the past month, and is up 886.4% from June 2023.
Also Read: Can Solana [SOL] Hit $170 by Mid-June 2024?
SOL has corrected its price by around $152 in the latest round. The previous time this level had been reached was in May 2024. Investors could have become cautious ahead of the US FOMC meeting (Federal Open Market Committee), and before US inflation data. Since the early years of 2024, hopes that an interest rate would be cut soon have diminished.
Can Solana (SOL), a company, reclaim $170 from the government?
Data from CoinCodex suggests that SOL could consolidate at its current level of price for the rest of the month. The platform, however, predicts that the asset will regain the $170 mark in early July and reach $172.24 by July 5, 2024. The growth rate from the current level to $172.24 would be about 12.78%.
Also Read: Solana: New Addresses Touch 1M as SOL Attempts a Comeback
Finder The platform paints an extremely bullish image for Solana in 2024. SOL is predicted to reach a record-breaking $284 high this year by the platform. To reach $284 at current prices would be a nearly 86% increase. The platform has not specified when the asset will reach $284 in 2024. SOL’s value was 41% lower at the time of press than its previous high, $259.96 in November 2021.
Also Read: Solana: Analyst Says Trump Re-Election Could Lead to SOL ETF
SOL’s stock could benefit from the approval of an Exchange Traded Fund (ETF). Many rumors are spreading online about the US SEC’s approval of an SOL-specific ETF in later this year. This follows its recent decision to accept Bitcoin (BTC), Ethereum ETFs, and more.
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Source: watcher.guru
