Solana (Sol) has seen a bullish comeback in the last few days. Asset climbing follows the general upward trend in the broader crypto market. Sol’s prices rose 1.3% on the daily chart, 8.4% on the weekly chart, 19% on the 14-day chart, and 22.4% on the previous month. The sixth largest cryptocurrency by market capitalization has increased by 12.3% since July 2024.
When will Solana hit the $200 mark?
Sol represents immediate resistance with the $183 mark. The asset tested this price range this May. Violating the $183 mark could be the stage for SOL to achieve a $190 price level. It could be a smooth voyage for assets to reach $200 from the $190 level.
According to Changelly, Solana (Sol) will not reach the $200 mark in 2025, but his platform expects the asset to trade at its maximum price of $195.94 this year. Changelly hopes the assets will reach their $195 target in December. At $195.94 from the current price level, you’ll need a meeting of around 9.38%.
It is also possible that Sol will continue to meet in the coming weeks. The asset can break the $190 mark next weekend under bullish market conditions. Such a scenario could lead to Sol hitting the $200 mark next week.
Sol’s Rally could be fueled earlier this week by a new all-time best climb with Bitcoin (BTC) of $122,834. The rise of the BTC was followed by another bullish development of genius, clarity, and US Congressman passing the anti-CBDC Act and bill. Faced with corrections, BTC could cause a market-wide dip. Such a scenario could draw Sol’s price into the $150 area.
SOL also has several spot ETF applications awaiting approval in the SEC. The influx of ETFs led to BTC reaching its all-time high last year. Similar patterns may also appear in Sol.