Solana (SOL) has regained the $98 level for the first time since early February of this year and is making another attempt to break out of the $100 price level. According to CoinGecko data, SOL price has increased by 0.9% in the past 24 hours, 12.8% in the last week, 14% on the 14-day chart, and 16.3% month-on-month. SOL appears to be facing resistance in the $98-$99 price range and is facing a correction to $95 in the past few hours. Let’s take a look at why Solana (SOL) is rising today and what investors can expect from the cryptocurrency next.
What can Solana investors expect next?
Solana (SOL)’s recent price surge can be attributed to Bitcoin (BTC) rising to the $82,000 price level today, May 12, 2026. BTC has risen significantly over the past few months, dropping to the $62,000 level in February this year.
Solana (SOL) and the larger market rally can be attributed to positive developments centered around the crypto sector. First, the CLARITY Act could be passed later this week. The bill is scheduled for a vote on Thursday, May 14, 2026. It also saw Jerome Powell step down as Chairman of the Federal Reserve. Powell’s successor will be Kevin Warsh, chosen by President Trump. Many expect Mr. Warsh to cut interest rates soon after taking office. President Trump has been pushing for rate cuts for months, and Warsh could deliver. Expectations of lower interest rates may also have encouraged Solana (SOL) to rise.
However, it is still possible that Solana (SOL) faces a price correction in the coming days. Ceasefire negotiations between the United States and Iran appear to have broken down, with the possibility of re-escalation. Such developments could lead to an outflow of capital from high-risk markets. Additionally, Solana (SOL) and other cryptocurrencies may face new volatility due to macro pressures.
(Tag translation) Solana
