Bitcoin has taken a significant price dip over the past weekend, falling nearly 10% in the last seven days. With Bitcoin’s massive price dip, the altcoin market responded with bearish price markers, including Solana, which is currently trading at $130. The token fell to $120 earlier, but since then, it has recovered its stance and is up 3% against major crypto contenders.
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Solana Price Forecast for This Weekend
The altcoin market is currently experiencing significant price corrections as several crypto tokens have noted price declines in the current bull season. Solana is no exception to this change and had earlier fallen to $120, responding to the current market sentiment.
However, the token quickly recovered its lost valuations and surged back to $130, triggering a colossal wave of liquidations.
According to CoinCodex, Solana will continue to undergo notable price upticks and sways this week. The token will ultimately pick up pace post-May 9 and may trade beyond $131.64.
“The SOL price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these SOL projections, SOL will be changing hands at $131.64 on May 9, 2024, gaining 0.96% in the process.”
This weekend, SOL may continue to level the field by trading around $130 by May 4.
Also Read: Post Halving Solana (SOL) Eyes $300; Here’s When It Can Breach It
Solana Price Forecast for May
Solana is one of the most promising crypto coins to have surged this season. The SOL ecosystem is currently dubbed a nucleus of strong token activity, which will eventually help the token recover its lost pace.
According to CoinCodex, Solana will ultimately catch up by the end of May 2024, amping up by 14% to trade at $141.
“According to our current SOL price prediction, the price of SOL is predicted to rise by 14.17% and reach $148.86 by June 1, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 43 (fear). Solana recorded 13/30 (43%) green days with 11.91% price volatility over the last 30 days.”