Solana (SOL) continues its bullish trajectory, hitting a brand new all-time excessive of $262.93 earlier at present. The asset’s worth has dipped by 1.7% since its peak. SOL’s worth is up 8.9% within the day by day charts, 24.2% within the weekly charts, 30% within the 14-day charts, and 57.4% over the earlier month. SOL’s worth has additionally risen by 379.2% since November 2023. The asset was one of many best-performing cryptocurrencies of 2023, rising by greater than 1000% at one level.
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Why Is Solana Rallying Right now?
SOL’s restoration over the previous couple of years is actually commendable. The asset’s worth fell to beneath $10 after the collapse of FTX in November 2022. SOL has come fairly a good distance since its 2022 lows.
SOL’s newest rally is probably going attributable to Bitcoin (BTC) hitting a brand new all-time excessive of $99,261.30 earlier at present. BTC’s rally might be attributable to talks about Donald Trump probably electing a “crypto czar.”
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The Asset’s Value For November 30, 2024
In response to CoinCodex, SOL’s worth will dip over the subsequent few days. The platform anticipates the cryptocurrency to commerce at $256.32 on Nov. 30, 2024. Regardless of the bearish short-term outlook, CoinCodex predicts SOL to realize momentum early subsequent 12 months. The platform predicts the asset will breach the $280 mark on Jan. 4, 2024.
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Changelly presents an much more bearish outlook for Solana (SOL). The platform expects the asset to face a big correction over the approaching week. Changelly anticipates SOL to commerce at $240.97 on Nov. 26, 2024. The platform has but to be predicted for Nov. 30, 2024.
There’s a chance that Solana (SOL) will proceed its upward momentum all through the month. There’s a chance that Donald Trump will elect a “crypto czar.” The event might result in an prolonged bull run below the brand new regime.
