Solana
Solana (SOL) Weekend Price Prediction: Will It Reclaim $140?
The cryptocurrency market has stagnated in recent days despite a lower inflation rate in the United States. Solana (SOL) has fallen below $140 and is in the red across the board. SOL is down 3% in the last 24 hours, 10.6% in weekly charts, 21.1% in 14-day charts, and 25.5% from the previous month.
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The current market decline could be due to Bitcoin (BTC) miners capitulating and selling off and the lack of new money entering the market. The Securities and Exchange Commission (SEC) recently dropped its investigation into Ethereum (ETH), but the decision did not impact the market as a whole.
Can Solana (SOL) Reclaim $140 This Weekend?
CoinCodex researchers expect SOL price to consolidate at current levels for the rest of the month. According to the platform’s data, SOL will continue to trade at around $136 this weekend. CoinCodex predicts that SOL will regain the $140 level on July 7, 2024 and the $150 level in mid-July.
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Changelly also presents similar forecasts for Solana (SOL). The platform expects SOL to reclaim the $140 mark on July 3, reaching $142.36.
According to data from The Block, the number of active addresses on the Solana network has steadily increased over the past year. The number of new addresses has been decreasing since March 2024.
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SOL might not make positive moves without the broader crypto market taking the lead. BTC is currently the market leader and other assets are following its trajectory. Without BTC moving higher, SOL could continue to stay at current levels.