Solana Jumps 12% In 1 Day: Can SOL Reclaim $100 Next?

The cryptocurrency market is finally showing some signs of a recovery. Bitcoin (BTC) has reclaimed the $69,000 price level and other assets are following its trajectory. Solana (SOL) is also enjoying the market-wide resurgence, hitting $86 after months of struggle. CoinGecko data shows that SOL’s price rallied by nearly 12% in the last 24 hours,16.4% in the 14-day charts, and 9.5% in the yearly charts. Despite the rally, SOL is still down by more than 50% in the last year and 70% from its all-time high of $293.31. Let’s discuss if Solana (SOL) can sustain its price rally and hit the $100 mark next.

Can Solana Sustain Its Price Rally And Hit $100?

Solana’s (SOL) latest upswing comes amid a larger market-wide rebound. The rally is due to President Trump hosting CEOs of several cryptocurrency platforms and companies. The President said that the US plans on buying substantial amounts of Bitcoin (BTC) and other cryptocurrencies. The statement may have elevated investor sentiment. Solana (SOL) is simply following Bitcoin’s (BTC) trajectory. <