The cryptocurrency market seems to be recovering from the recent decline. Bitcoin (BTC) has reclaimed the $58,000 level. The global cryptocurrency market capitalization also increased by 1.2% in the past 24 hours to $2.14 trillion. Solana (SOL) also continued its recovery trend, increasing by 2.6% on the daily chart and 1% week-over-week.
Despite the slight increase, SOL is down 6.8% on the 14-day chart and 7.8% over the past month. In this price prediction article, we will consider how much the price of SOL will rise over the coming weekend.
SOL Price Prediction and Market Analysis
Changelly SOL Price Prediction
According to data from Changelly, Solana (SOL) could fall to $132.19 on Sunday, September 15, 2024, a decline of about 1.97%. Despite the bearish outlook, Changelly analysts expect SOL to rise to $140 levels by the end of this month.
SOL Price Prediction from CoinCodex
Meanwhile, analysts at CoinCodex predict that SOL will rise to $135.17 on Sunday, September 15, 2024. Reaching $135.17 from current levels would represent an upside of around 0.24%.
Analysts at CoinCodex also expect SOL to gain momentum in the coming weeks and breach the $140 level by the end of the month. The platform predicts that SOL will reach $143.37 on September 30, 2024.
Market conditions and potential impacts on SOL prices
If market conditions are favorable, the price of Solana (SOL) could rise more than expected. The U.S. inflation rate came in at 2.5% in August, lower than expected.
The Federal Reserve also announced that it will cut interest rates starting this month. These two moves could lead to a surge in riskier investments such as cryptocurrencies. In such a scenario, the price of SOL could exceed $140 by the end of this month.
