Solana price surges 8% as Bitcoin and Ethereum rally on Israel-Iran ceasefire hopes

• Solana is among altcoins to rally after Donald Trump announces Israel-Iran ceasefire
• The SOL token surged to above $145, gaining 8%, while Bitcoin topped $106,000 and Ethereum broke above $2,400.
• SOL could target $175 and $200 in the short term.

Solana (SOL) price spiked as global cryptocurrency markets experienced a sharp rebound following the announcement of a ceasefire between Israel and Iran.

The cessation of hostilities, which ended a 12-day conflict that had heightened geopolitical tensions, alleviated concerns over potential disruptions to global markets, particularly in the energy sector.

This development triggered a surge in major cryptocurrencies, with Solana (SOL) climbing 8% to $145, Bitcoin (BTC) breaking past $106,000, and Ethereum (ETH) reaching $2,400.

Trump announces Israel-Iran ceasefire

Bitcoin had indeed bounced above $103k in the aftermath of news that Iran’s missile attacks on US bases had no casualties and White House knew about it.

The top crypto then surged to $106k amid the market’s positive response.

This happened as, on June 23, 2025, US President Donald Trump announced via Truth Social that Israel and Iran had agreed to a “complete and total” ceasefire, effective just after midnight Eastern Time.

According to Reuters, the announcement followed intense diplomatic efforts, including negotiations facilitated by Qatar’s Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani, who secured Tehran’s agreement after discussions with Iranian officials.

Despite initial uncertainty, as Israel did not immediately confirm the ceasefire and Iran’s Foreign Minister Abbas Araghchi noted no formal agreement existed, markets reacted swiftly to the prospect of peace.

The ceasefire, described by Trump as ending the “12 Day War,” restored market confidence, with Solana’s price movement reflecting its sensitivity to macroeconomic developments and investor optimism.

“On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, ‘THE 12 DAY WAR’,” Trump said via Truth Social.

Solana saw its price surge by 8% to $145, driven by bullish sentiment across the broader market.

This included an upswing for stocks as S&P 500 futures rose 0.6% and oil prices dropped significantly.

SOL price prediction

Analysts are showing a bullish bias on Solana’s price following the ceasefire-driven rally, with altcoins likely to rally hard if the truce holds.

In this case, Solana could test $150 in the near term, with some traders eyeing $200 if the bullish momentum persists.

However, uncertainties remain, particularly regarding the whereabouts of 400 kilograms of uranium in Iran, which could reintroduce geopolitical risks if not addressed.

Conversely, any violation of the ceasefire or renewed tensions could trigger volatility.

Technical indicators point to resistance at $175 and support at $125, with onchain activity suggesting robust demand.

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