Solana (SOL) has been monitoring the general market reversal, lately falling to $60 earlier than regaining the $70 worth stage. In line with CoinGecko knowledge, SOL worth has elevated by 4.6% up to now 24 hours and eight.5% in comparison with the earlier week. Regardless of the restoration, SOL continues to be down practically 20% on the month-to-month chart. Let’s focus on what’s driving the worth of Solana (SOL) and whether or not the asset may lastly flip bullish.
Can Solana proceed to rise above $70?
Solana (SOL)’s latest rally has occurred in parallel with Bitcoin (BTC) reclaiming the $65,000 stage. After the peace settlement was introduced between america and Iran, inflows into the cryptocurrency market have been energetic. The settlement is predicted to be signed on Friday, June 19, 2026. President Trump mentioned the Strait of Hormuz has opened with out tolls. The transfer has already precipitated oil costs to fall. If oil costs stay low, inflation may sluggish. Such developments may result in decrease rates of interest. Excessive-risk property corresponding to Solana (SOL) and different cryptocurrencies may benefit from decrease rates of interest.
There are nonetheless some dangers to concentrate on. Though a peace settlement has been introduced, it has not but been signed. If the deal falls via, Solana (SOL) may see one other worth correction.
Second, there was a liquidity drain, which many attribute to SpaceX’s latest IPO (preliminary public providing). There are nonetheless IPOs for Anthropic and OpenAI later this 12 months. Liquidity might stay out of the crypto marketplace for an prolonged time period. AI shares seem to have eaten up a big quantity of capital in latest months, a development that has been gaining momentum for a number of years.
Third, the cryptocurrency market stays extremely unstable. Solana (SOL) might have posted some wholesome positive factors immediately, however the broader market continues to be in bear territory. Costs can change in any route at any time.
