Solana (SOL) has confronted a big worth correction over the previous couple of weeks. The asset has fallen 18.9% within the weekly charts, 26.3% within the 14-day charts, and 31.5% over the earlier month. Nevertheless, SOL has rallied 3.5% within the final 24 hours and is up 448.2% since April 2023. SOL was among the many best-performing cryptocurrencies in 2023, rising by practically 1000% at one level. Nevertheless, the fifth-largest crypto by market cap has fallen beneath $140 proper now.
The most recent correction within the crypto market got here on the heels of Iran’s assault on Israel. Furthermore, rising inflation within the US has pale investor expectations of an rate of interest lower. The Federal Reserve would possibly comply with a coverage of upper charges for longer so long as inflation stays above the Fed’s 2% goal.
Regardless of the current correction, there’s a chance that SOL’s worth will rebound, fuelled by Bitcoin’s (BTC) halving later this month.
Solana (SOL) worth prediction
In accordance with CoinCodex, SOL will proceed to commerce beneath $140 until no less than Could 1, 2024. Nevertheless, the platform anticipates SOL to surpass the $150 mark by Could 10, 2024.
Moreover, Changelly additionally predicts Solana (SOL) will commerce beneath $140 for the remainder of this week, hitting $138.12 on Sunday, Apr. 21, 2024.
Nonetheless, we could witness a change in investor sentiment following BTC’s halving. Furthermore, if inflation within the US cools, there could also be one other resurgence for the crypto market. Each developments may change the narrative for the fifth-largest crypto, resulting in a worth surge. Solana (SOL) is presently down by over 46% from its all-time excessive of $259.96, which it attained in November 2021.
