Solana (SOL) has seen a bullish reversal over the previous few days. The asset’s climb follows a basic uptrend within the wider crypto market. SOL’s worth has rallied by 1.3% within the each day charts, 8.4% within the weekly charts, 19% within the 14-day charts, and 22.4% over the earlier month. The sixth-largest crypto by market cap has rallied by 12.3% since July 2024.
When Will Solana Hit the $200 Mark?
SOL faces speedy resistance on the $183 mark. The asset unsuccessfully examined this worth level in Could of this yr. Breaching the $183 mark may set the stage for SOL to hit the $190 worth stage. It might be easy crusing for the asset to hit $200 from the $190 stage.
Based on Changelly, Solana (SOL) won’t hit the $200 mark in 2025, however he platform anticipates the asset to commerce at a most worth of $195.94 this yr. Changelly expects the property to hit the $195 goal someday in December. Hitting $195.94 from present worth ranges will entail a rally of about 9.38%.
There may be additionally an opportunity that SOL will proceed its rally over the approaching weeks. The asset may breach the $190 mark over the approaching weekend, underneath bullish market circumstances. Such a situation may result in SOL hitting the $200 mark over the subsequent week.
SOL’s rally is probably going fueled by Bitcoin (BTC) climbing to a brand new all-time excessive of $122,834 earlier this week. BTC’s rise was adopted by one other bullish growth of the US Home of Representatives passing the GENIUS, Readability, and anti-CBDC Act and invoice. BTC going through a correction may set off a market-wide dip. Such a situation may pull SOL’s worth to the $150 space.
SOL additionally has a number of spot ETF functions awaiting approval on the SEC. ETF inflows have led BTC to hit a number of all-time highs over the past yr. An identical sample may emerge for SOL as effectively.
