Active hours in Solana (SOL): What can happen in the short term?
SOL, Solana's native cryptocurrency, gained momentum with the memecoin craze and#ETHETFsApproved Frumors. While #Solana_Blockchain reached its all-time high (ATH) near $260 in November 2024, it has only managed to reach a high of just over $200 this year.
It is currently hovering around $170, down 34 percent from the ATH, but has the potential to return to $260, according to some estimates. If SOL can reach annual peaks, i.e. the $200 band, in the short term, it can start a bullish streak. According to various analyses, increased grid usage could significantly increase demand for $SOL in the coming months.
The possibility of the Fed lowering interest rates in September and the proximity of the US elections offer positive metrics for#Solanain the short term. In summary, August, September and October can be active months for the popular altcoin. According to analysts, Solana could rise to the $200 band in the short term. Also optimistic about Solana, Franklin Templeton's Digital Assets division has started to attract attention recently.
Furthermore, the long-running memecoin craze has taken Solana to the highest levels. The ecosystem, which reached huge volumes with celebrities joining the memecoin movement, made its mark this year. Solana, which attracts traders' attention with its low transaction fees and speed, will show itself again in the upcoming bull season. The main target of investors and analysts for Solana is $500.
