The cryptocurrency market continues its descent, with Bitcoin (BTC) dipping under $58,000. The worldwide crypto market cap has fallen 2.2% within the final 24 hours to $2.17 trillion, and worth predictions counsel additional declines could also be on the horizon.
Solana (SOL) is following BTC’s downward journey, falling 4.5% within the every day charts, 4.9% within the weekly charts, 3.3% within the 14-day charts, and 22.6% over the earlier month. On this worth prediction article, we’ll discover out SOL’s potential worth this coming weekend.
Elements Influencing Solana’s Value and Weekend Predictions
Why Did The Present Market Dip Happen?
The present market dip could possibly be because of low investor sentiment. There was a rise in Tether (USDT) holdings, signalling that buyers are exchanging their crypto holdings for stablecoins.
The low market sentiment is stunning, on condition that the Federal Reserve just lately introduced rate of interest cuts from September 2024. A drop in rates of interest might increase investments in dangerous belongings.
SOL Weekend Value Prediction
CoinCodex’s Value Prediction
In accordance with CoinCodex’s worth prediction, Solana (SOL) will hit a worth of $141.18 on Sunday, Sept. 1, 2024, an increase of about 2.11% from present worth ranges. The platform expects SOL to consolidate round $140 initially of the month earlier than witnessing a rally to $159.12 on Sept. 20, 2024.
Changelly’s Bullish Prediction
Changelly presents a extra bullish worth prediction for SOL over this weekend. The platform anticipates the asset to hit $144.59 on Sunday, Sept. 1, 2024. Reaching $144.59 from present worth ranges would translate to a rally of about 4.6%.
With the primary spherical of rate of interest cuts hitting merchants in September 2024, we could witness a sudden crypto market rally. Fee cuts normally result in buyers taking over extra dangers, which might result in SOL going past what the platforms have predicted.
