Bitcoin (BTC), the leading cryptocurrency, is now trading below $58,000. Global crypto market capitalization has dropped 2.2% to $2.17 billion in just 24 hours. Price predictions indicate that further drops may be imminent.
Solana’s (SOL), which is following BTC on its downward trajectory, has fallen 4.5% per day, 4.9% per week, 3.3% for the 14-day chart, and 22.6% in comparison to the prior month. This price prediction includes articleThis weekend, we will find out the price of SOL.
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Solana Price Predictions and the Weekend: Factors that Influence Solana
What caused the current market dip?
Investor sentiment could be the cause of this current market drop. Tether (USDT), a stablecoin, has seen an increase of holdings. This could be due to investors switching from cryptos to stablecoins.
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It is surprising that market sentiment has been so low, especially since the Federal Reserve announced an interest rate cut in September 2024. The Federal Reserve recently announced interest rate cuts from September 2024.
SOL Weekend Price Prediction
CoinCodex Price Prediction
CoinCodex predicts that Solana will reach a price level of $141.18 by Sunday, September 1, 2024. This is a jump of approximately 2.11% over the current levels. SOL is expected to stabilize around $140 by the start of the month, before experiencing a rise to $159.12 in September 2024.
Changelly’s Bullish Prediction
Changelly has a bullish prediction of SOL’s price for this weekend. Platform predicts that the asset will reach $144.59 by Sunday, September 1, 2024. The platform predicts that the asset will reach $144,59 on Sunday, Sept. 1, 2024.
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In September 2024 we could see the crypto market surge as traders experience their first rate reductions. Investors tend to take on greater risks when rates are cut, and this could cause SOL to go beyond the predictions of platforms.
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Source: watcher.guru