Solana Bounces Back from $96 Dip to $105 Price Point

Solana's price has been on an upward trend after dipping to $96 due to market-wide corrections. The asset has since reclaimed the $105 mark, showing a 5.6% increase in the last 24 hours according to CoinGecko data.

The price of Solana (SOL) has risen by more than 37% over the last month, but experts warn that higher interest rates may present challenges for sustained rallies.

The Federal Reserve's decision to raise interest rates by 25 basis points is a perplexing development given that investors usually tend to divest from risky assets when interest rates are high. However, it is possible that the market priced in ahead of the interest rate hike, which may have given room for a slight rebound.