Solana (SOL) is currently the most performant cryptocurrency on daily and weekly charts of the top 10 projects by market capitalization. According to data from Coingecko, SoL has risen 6.2% over the past 24 hours and 14.8% over the previous week. Bitcoin (BTC) has collected 2.4% on its daily chart. However, BTC faces a 0.5% revision on its weekly chart. Ethereum (ETH) prices rose 0.8% in the last 24 hours and 7.2% in the last week. XRP has no price changes on the daily chart and has a 3.3% rally on the weekly chart. Solana’s rally appears to be passing the latest upward-looking top projects.
Can Solana be raised for $250?
Solana (Sol) was last traded in January this year, surpassing the $250 level. The assets rose to an all-time high of $293.31 on January 19th. Since its peak in January, Sol’s prices have fallen 27.4%. According to analysts at Concodex, Sol may not have reached the $250 mark yet. However, the platform expects Sol to rise to $240.17 on November 8th this year.
According to all streets of the famous cryptocurrency analyst, wolves, the price of Sol against Bitcoin is the most important level. The analyst said, “If Solana breaks out here, you can expect it to become the beloved of the next Altcoin Run.“Developments like this could push Sol to the $250 mark.
According to another Crypto analyst, Lark Davis, the latest gathering for Solana (SOL) could be driven by several factors. Firstly, there has been a lot of money flowing from the launch of several Solana finance companies. Secondly, it is likely that the Solana ETF will be approved by the SEC within this year. ETF approval could lead to SoL hitting its all-time high.
The potential for interest rate reductions could have also led to Solana’s latest rally. If the Federal Reserve takes an incredible stance after the next meeting, we may experience another market-wide rally.
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