Solana Weekend Price Prediction: Can SOL Reclaim $150?

The cryptocurrency market has faced a significant price correction in the last few days. Bitcoin (BTC) has fallen below $61,000 and the global cryptocurrency market cap has fallen 4.2% to $2.2 trillion in the last 24 hours.

Solana (SOL) and other crypto assets are following BTC’s downtrend and are facing significant price corrections. This price prediction article explains how high SOL can go this coming weekend.

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The price of SOL is down 5.8% on the daily chart, 8.9% on the weekly chart, and 0.9% on the 14-day chart. The asset saw some gains on the monthly and annual charts, rising by 2.9% and 470.6%, respectively.

Why is the crypto market down?

October has historically been a bullish month for the crypto market. However, current market sentiment seems to contradict this trend. Major assets are in the red and facing significant sell-offs.

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The recent market decline could be due to increasing geopolitical tensions in the Middle East. The Iranian attack on Israel may have discouraged investors from putting their money into risky assets.

Solana weekend price prediction

Analysts at CoinCodex expect SOL to rise slightly over the weekend and reach $138.42 on Sunday, October 6, 2024. The platform expects SOL to reclaim the $150 mark sometime later this month, reaching $151.06 on October 23, 2024.

Changelly researchers are more optimistic about Solana (SOL) than CoinCodex. The platform predicts that SOL will reach $147.98 on Sunday, October 6, 2024. Reaching $147.98 at the current price would represent a rally of about 7.65%. The platform also expects SOL to reach $169 by the end of this month.

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A 25 basis point rate cut by the Federal Reserve in November is also possible. The development could lead to investors taking more risks with their investments, which could lead to increased inflows into the cryptocurrency market.