Solana (Sol) has recovered quite a bit over the past few days. The price of the asset fell to a $100 level during the recent market crash. Sol’s prices have risen by 2.2% on the daily chart, 7.6% on the weekly chart, 14.4% on the 14-day chart, 19.7% on the monthly chart, and 5.3% since April 2024.
Solana’s resilience is not challenged
Solana (Sol) has emerged as one of the most resilient cryptocurrency projects on the market. Asset prices have fallen below $10 after the collapse of FTX in 2022. Since its 2022 low, Sol prices have hit multiple new all-time highs. The asset reached its latest peak on January 19th this year.
Sol’s latest rally comes amid the recovery of the market as a whole. The crypto market faced a significant price crash after President Trump’s tariff riot. The market has recovered significantly after Trump’s 90-day tariffs suspend.
Sol’s Rally will also come among Paul Atkins, the new Pro Bitcoin head appointed to the SEC. Many people hope that Atkins will take a more relaxed approach to the crypto sector.
Will the assets be able to regain $200 in May?
According to Concodex, Solana (Sol) will move into a lateral trajectory over the coming weeks. The platform expects assets to face revisions by May. Cincodex predicts that Sol will trade at $138.63 on May 24th. Sol’s price would drop by 8.29% if it drops to $138.63.
It is also possible that Sol will not face corrections. The Federal Reserve may announce interest rate cuts soon. Interest rate cuts could lead to a surge in crypto investments. This move could lead to continued gatherings of assets.
