Solana (SOL) is currently the best-performing cryptocurrency in the daily charts among the top 100 projects by market cap. According to CoinGecko’s SOL data, the asset has rallied 12.6% in the last 24 hours, 21.9% in the weekly charts, 9.8% in the 14-day charts, 18.1% over the previous month, and 36.6% since August 2024. Solana (SOL) could be gearing up for a rally ot the $250 mark if it continues its current pace.
When Could Solana Hit the $250 Mark?
Solana (SOL) has had quite a ride over the last few years. The asset’s price tanked to below $9 after the collapse of FTX in 2022. Since its 2022 lows, SOL has hit multiple all-time highs. The asset’s most recent peak was $293.31, which it hit in January of this year. SOL’s price has dipped by 32.3% since its January peak.
CoinCodex analysts do not expect Solana (SOL) to hit the $250 mark anytime soon. The platform predicts SOL to rally over the coming weeks, but not to the $250 price point. CoinCodex anticipates SOL to trade at $223.39 on Oct. 25. Hitting $223.39 from current price levels will entail a rally of nearly 13%.
Solana’s (SOL) latest rally is likely due to the market-wide rebound. The crypto market began an upward movement after Consumer Price Index (CPI) numbers came in lower than anticipated. The development has led to optimistic expectations for an interest rate cut in September 2025. A rate cut may further propel SOL’s rally.
Also Read: Solana SOL ETFs Inching Closer: Invest Before Its Too Late?
While the CPI numbers are quite bullish for the crypto market, there is also a chance that we may face another correction. September has historically been a bearish month for Bitcoin (BTC). Moreover, the global economy is still quite weak. Trade wars and geopolitical tensions could present challenges to the cryptocurrency market. SOL’s price could dip under such pressures.
