After the bank crash and subsequent crypto market crash in the last few days, the Solana price has made a good recovery. The SOL token may not outperform Ethereum or Bitcoin. However, unlike many other coins, the SOL has increased significantly in the last seven days. What is Solana price forecast for the next few weeks?
How has the Solana price moved in the last few days?
The Solana price benefited from the recent bank crash and experienced a stronger increase. The bankruptcies of the US banks Silvergate and Silicon Valley Bank were announced at the end of last week. The Solana price then crashed, with the price dropping from 18.50 to 16 US dollars.
The price was able to quickly recover. The price of the SOL token has risen to $18. A stronger rise to $22 began in the days that followed. Solana’s price has risen to $19 after falling for several days. Solana’s price has increased by 6% in the last seven days.
Why was the Solana price able to rise again?
The Solana price fell more sharply during the bank crash. However, the crypto market quickly recovered. Bitcoin, in particular, experienced a massive rally. This also ensured that altcoins could recover. Certain coins, however, rose slightly while others remained unchanged.
In comparison to other altcoins, Solana has performed relatively well throughout this crisis. This points to a positive Solana forecast in the coming weeks. The increase could also be due to the fact that the SOL token originates from a relatively low level overall, having already lost a significant amount of value in the FTX crash. This means that the air is thicker at the top.
What is the Solana price forecast for the coming weeks?
At the moment, the Solana forecast for the coming weeks is difficult to predict. However, if we assume that the Solana price will rise further as the Bitcoin price rises, we must hope for further Bitcoin price increases. Bitcoin’s driving force is especially important for altcoins during a bear market.
The Bitcoin price is currently scraping the $25,000 resistance level. A breakthrough that is also sustainable this time appears to be on the horizon in the coming weeks. The fact that central banks should only raise interest rates slightly or not at all following the banking crisis lends support to this trend. As a result, we anticipate a positive Solana forecast.
How high can the Solana price go in our forecast?
The Solana price should be able to rise significantly again in the coming weeks, as we anticipate a more bullish market. A move above $20 appears very likely in the near future.
Because Solana has been considered a speculative asset since the FTX crash, the potential upside for the SOL token is particularly large. The price can rise sharply and quickly, but it can also fall sharply and quickly. As a result, we anticipate a Solana forecast of 22 to 29 US dollars in the next 6 to 8 weeks.
CLICK HERE TO TRADE SOLANA OR CARDANO AT BITFINEX!
- Conservative Prediction: Can XRP reach $5 in 2023?
- Solana Price Prediction for February 2023: THIS Price is very likely!
- Beyond the Moon: Solana Poised to Reach $100 by 2023?
- Can Solana Price Hit $100 in 2023?
- The Big Solana Price Prediction for 2023 – Can the SOL Price Recover in 2023?
- Solana SMASHING through 2023, up 40%! Will Solana price go up?
- Ripple Price Prediction – How High will XRP reach in 2050?
- Top 3 Cryptos to BUY in January 2023 – The Bullrun is HERE?
- Big News: Dogecoin To Hit $3 In February If This Happens!
- Solana Price Prediction – Can the SOL price rise in the next two weeks?
- Can Shiba Inu Price Reach 10 Cents?
- Solana Price Prediction: How high can SOL Reach Before 2023?
- Can Avalanche Price hit $100 in 2023?
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Solana Price Prediction – How High will Solana Price reach in 2030?
- Cardano Forecast: What’s next for Cardano Price after the Crypto Crash?
- MATIC Prediction for February 2023 – Things are looking…Greenish?
- Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
- Shiba Inu might EXPLODE as US Banks become Risky! Will SHIB go up?
- Solana Price Prediction – How High will SOL Price Reach in 2025?
- Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
You might also like
More from Altcoin
Shiba Inu might EXPLODE as US Banks become Risky! Will SHIB go up?
Shiba Inu coin might explode as the confidence in US banking decreased. What is the Shiba Inu forecast for the …
Arbitrum Airdrop: How to claim your free $ARB token?
The Arbitrum Foundation revealed that the tokens would be distributed to community members via Arbitrum airdrop.
IOTA Coordicide: A Decentralized Revolution for a Price Resurgence?
Can the IOTA Coordicide update with new decentralization, on the other hand, cause the IOTA price to explode?