Solana (SOL) has seen a bullish reversal over the previous few days. The asset’s climb follows a normal uptrend within the wider crypto market. SOL’s value 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 rapid resistance on the $183 mark. The asset unsuccessfully examined this value level in Could of this yr. Breaching the $183 mark might set the stage for SOL to hit the $190 value stage. It could be easy crusing for the asset to hit $200 from the $190 stage.
In line with Changelly, Solana (SOL) is not going to hit the $200 mark in 2025, however he platform anticipates the asset to commerce at a most value of $195.94 this yr. Changelly expects the belongings to hit the $195 goal someday in December. Hitting $195.94 from present value 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 might breach the $190 mark over the approaching weekend, underneath bullish market situations. Such a state of affairs might 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 improvement of the US Home of Representatives passing the GENIUS, Readability, and anti-CBDC Act and invoice. BTC dealing with a correction might set off a market-wide dip. Such a state of affairs might pull SOL’s value to the $150 space.
SOL additionally has a couple 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. The same sample might emerge for SOL as nicely.
