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Solana (SOL) could be one of the biggest winners from the nomination of David O. Sacks as White House Director of Artificial Intelligence and Cryptocurrency. President-elect Donald J. Trump has appointed David Sacks as “Crypto Czar” on Thursday. Trump stated that Sacks will work to develop a legal framework to provide the crypto industry with the clarity it has been seeking, allowing the industry to flourish in the United States. Sacks brings a high-profile background to the role: he was Chief Operating Officer of PayPal during its formative years and serves as an advisor to the 0x protocol. Related Reading: Solana (SOL) Could See A Correction Despite Historic Monthly Close, $400 Still On Sight? Known for his long standing support of Bitcoin as a decentralized hedge against traditional finance and a proponent of decentralized finance (DeFi) for increasing transparency in the financial system, Sacks has also invested in multiple cryptocurrency projects through his venture capital firm, Craft Ventures. Why Sacks Is Super Bullish For Solana Among his most notable exposures is his early investment in the Solana blockchain, achieved through the crypto-focused investment firm Multicoin Capital. In 2023, Sacks confirmed that he maintained his Solana (SOL) position despite the FTX-related market turbulence and remained “up big.” Craft Ventures’ early involvement with Solana, via Multicoin Capital, reportedly generated substantial returns. According to Sacks’ own account on a podcast (when SOL stood at $169), this investment soared to a valuation around $1 billion. “That fund, I mean, it’s like a 100x fund, it’s just like bonkers. And so as a result of that, we are indirect beneficiaries of this huge increase in Solana. It will end up being about, you know, a billion dollars of, I think, Solana for us in terms of returns, but the MultiCoin guys determine the trading decisions on that,” Sacks revealed during a podcast. Sacks has discussed Solana in detail on the All-In Podcast with Chamath Palihapitiya, the founder and CEO of Social Capital. Their conversations have highlighted Solana’s capability to support rapid, cost-effective transactions at scale, often comparing its architecture and throughput favorably against that of Ethereum. “There’s a lot of people, I’d say smart money in Silicon Valley, who are betting on a flippening where Solana could ultimately overtake Ethereum as the preferred platform,” Sacks remarked. Related Reading: Solana (SOL) ATH Sparks $309 Price Prediction Frenzy – Details Notably, a spot Solana ETF is just around the corner in the US with 5 applications already filed with the US Securities and Exchange Commission. With the appointment of Sacks, the likelihood of a spot SOL ETF following the departure of Gary Gensler as SEC Chairman on January 20 is likely to have increased further. Solana’s strong fundamentals and growing institutional recognition are being reflected in its price action. At press time, Solana is trading just below a new all-time high established two days ago at $264.39, having surpassed its previous record from October 2021 at $259.90. Should SOL breach this newly formed resistance level, technical analysts point to potential upside targets. These include the 1.272 Fibonacci extension at around $328 and the 1.618 Fibonacci extension at approximately $415. At press time, SOL traded at $234. Featured image from YouTube, chart from TradingView.com

Solana’s monthly DEX volume surpasses $100 billion for the first time, fueled by high network activity and the memecoin frenzy.

On Thursday, Fox reporter Eleanor Terret revealed that the US Securities and Exchange Commission (SEC) is actively engaging in discussions with several asset managers regarding the launch of the new spot Solana ETF market. The firms involved include VanEck, 21Shares, Canary Capital, and Bitwise, all seeking to introduce products tied to the Solana price. SEC Progresses On Solana ETF Talks According to sources familiar with the matter cited by Terret, discussions between SEC staff and issuers are currently “progressing.” The SEC is reportedly reviewing S-1 filings, critical to the Solana ETF approval process.  Terret further disclosed that there is growing optimism among stakeholders that the industry may soon see 19b4 filings from exchanges representing these issuers, a key step necessary to move forward with ETF listings. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors These 19b4 forms will be submitted by exchanges, such as the Chicago Board Options Exchange (CBOE), on behalf of the issuers, seeking SEC approval to list the proposed ETFs. Upon receiving these filings, the SEC has a 240-day window to either approve or deny the products. To date, VanEck and 21Shares, who are also in the Ethereum and Bitcoin ETF markets approved by the agency earlier this year, along with Canary Capital, have submitted their S-1 filings for a Solana ETF, while Bitwise recently announced its intention to file earlier this week.  However, Terret notes that the submission of 19b4 filings does not guarantee approval. Previous applications from VanEck and 21Shares faced setbacks, with their filings removed from the CBOE’s website in August.  The reporter claimed that industry observers speculated that the regulatory agency, under its chairman Gary Gensler, was reluctant to approve such listings because of a tougher regulatory stance. Potential Shift In SEC Approach For 2025 Despite these previous setbacks, there is renewed optimism among investors following recent engagements with SEC staff and the anticipated pro-crypto policies of the incoming administration led by President-elect Donald Trump.  This change in leadership is expected to foster a more favorable environment for cryptocurrency-related financial products, potentially paving the way for a Solana ETF approval in 2025. The anticipation around the Solana ETF gained additional traction after Gensler announced his departure from the SEC, confirming that January 20, 2025, will be his last day in office.  This announcement follows months of speculation regarding his future, particularly as Donald Trump had previously indicated intentions to replace Gensler on his first day in office. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Besides the Solana ETF, other cryptocurrency ETFs, including those for XRP and Hedera’s HBAR token, are also in the pipeline and may benefit from the evolving regulatory landscape.  As the situation unfolds, the potential for a more accommodating regulatory approach could significantly reshape the cryptocurrency investment landscape in the United States, even more so with the plans Trump laid out during his presidential campaign. At the time of writing, SOL is trading at $261, up 25% in the weekly time frame, marking a new all-time high for what is now the fourth largest cryptocurrency on the market. Featured image from DALL-E, chart from TradingView.com 

The Solana price could be gearing up to reach a new ATH of $4,000, according to an analyst who highlighted its recent breakout from a massive Cup and Handle pattern. This bullish signal comes on the heels of recent gains in the Solana (SOL) price, which have pushed it significantly above the $200 mark, indicating strong upward movement. Solana Price Targets $4,000 Breakout A Crypto analyst identified as ‘CryptoRus’ has shared a longstanding prediction that suggests Solana could reach $4,000 by the end of the current market cycle. The analyst has based this bullish outlook on a technical pattern called the “Cup and Handle.” Related Reading: Analyst Predicts Possible 40% Crash For XRP Price With Gravestone DOJI Candle Formation According to CryptoRus, Solana has just broken out of its Cup and Handle pattern formation on its price chart. This unique chart pattern is considered a bullish signal and, in technical analysis, signals an extending upward trend. The analyst’s chart illustrates Solana’s price action on the weekly time frame, using the aforementioned technical pattern as the basis of analysis. From 2022 to mid-2024, Solana experienced a period of consolidation and recovery, as seen in the cup part of the technical pattern. The “handle” in the chart pattern also shows slight consolidation; however, the analyst has pinpointed a breakout signal at the end. This breakout is set to occur once Solana can surpass resistance levels between $195 and $255. After the anticipated breakout, the analyst suggests a solid upward trend, with projections implying a greater upside above $4,450 to a staggering $5,000. A surge to this impressive target would require Solana to experience a 2,027% rally from its current price.  Earlier this week, when Solana was on the verge of breaking out of its Cup and Handle technical pattern, the analyst revealed in a previous X post that the Cup depth of the pattern suggests a bullish price target of $400 for Solana in this market cycle. A surge to $400 would represent a 70.21% increase from present market values.   Update On Price Movements  Recently, the Solana price has been on a significant upward trend, recording impressive gains amidst the bull market. This bullish price movement comes as Bitcoin sees massive gains that have pushed it to a new ATH above $93,000.  Related Reading: Bitcoin Price Forms Bullish Symmetrical Triangle, Crypto Analyst Says Next Stop Is $100,000 As one of the world’s leading altcoins, many analysts have projected bullish targets for the Solana price, expecting it to hit new all-time highs as the bull market heats up. As of writing, the Solana price is trading at $237, recording a 14.88% increase in the last seven days and an even larger price gain of 41.7% over the past month, according to CoinMarketCap.  While the cryptocurrency’s daily trading volume of $6.8 billion is down by 12.32%, Solana still shows promise of a surge if market conditions remain favorable. Featured image created with Dall.E, chart from Tradingview.com

Solana (SOL) is trading just 6% below its all-time highs, fueled by a remarkable 16% surge from the $212 demand level. The rally has caught the attention of traders and investors alike, as SOL’s price action showcases a strong uptrend.  Top crypto analyst Johnny shared his technical analysis on X, predicting that Solana may retrace to its previous yearly highs before launching a new attempt to break its all-time highs. This forecast comes during a period of euphoria, with SOL delivering a stunning performance by soaring over 55% in less than two weeks.  Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target The rapid climb has positioned Solana as one of the market’s standout assets, driven by increasing demand and strong fundamentals. However, Johnny’s outlook suggests a healthy pullback could be on the horizon, potentially offering a key buying opportunity before SOL challenges its historic price levels. With SOL’s recent performance reigniting optimism in the crypto space, all eyes remain on its ability to maintain strength in the face of potential volatility. Will Solana defy expectations and reach new heights, or is a cooldown inevitable? Solana Testing Critical Supply Level Solana is testing a critical supply level just below $250, following a significant surge that has propelled it closer to its all-time high (ATH). This level serves as a key battleground, marking the last stronghold for sellers before SOL enters price discovery—a phase where it could carve out new highs. Crypto analyst Johnny recently shared his perspective on X, highlighting that while Solana’s price action remains robust, a temporary retrace to lower levels may be necessary to gather momentum.  According to his technical analysis, SOL could dip into the $220 demand zone, a level he sees as crucial for buyers to step in and refuel the rally. Johnny predicts that Solana could stage a strong recovery from there, targeting an aggressive move above its ATH at $260. Solana’s bullish momentum cannot be ignored despite the possibility of a retrace. The asset’s price action suggests a 6% surge above its ATH is well within reach if market conditions remain favorable. Continued strength in the broader crypto market could amplify buying pressure, helping SOL shatter its ATH and enter uncharted territory. Related Reading: Bitcoin Demand Outpaces Supply – On-Chain Metrics Reveal Low Seller Volume For now, all eyes are on Solana’s ability to navigate this supply zone. A successful breakout could pave the way for new highs, while a retrace to $220 might provide an ideal launching pad for the next leg of its rally. Either way, SOL’s trajectory highlights its growing prominence in the market as traders anticipate its next big move. Price Action Details   Solana is trading at $242, holding steady after a few days of consolidation below the $250 mark. This level represents a critical resistance as SOL inches closer to its all-time high (ATH). Despite this pause, the price action remains robust, supported by the broader bullish sentiment across the crypto market. However, SOL’s ability to break above $250 will be a key factor in determining its next move. A successful push beyond this level could set the stage for a retest of its ATH and potentially a rally into price discovery. Conversely, if SOL fails to overcome this resistance, a retrace to lower demand zones becomes likely. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation In this scenario, the next logical support level to watch would be around $222, where buyers could step in to reignite momentum. Should the retrace extend further, SOL might revisit previous yearly highs at $210, a critical level that proved significant for price action. Featured image from Dall-E, chart from TradingView

Solana has experienced a turbulent few days, with its price fluctuating between yearly highs at $225 and local lows at $200. This volatility has sparked significant interest among traders and investors as Solana tests key levels critical to its next move.  Top analyst and macro investor Carl Runefelt has weighed in with a technical analysis, suggesting that a decisive break above the $225 resistance level could ignite a rally toward $246. According to Rubefelt, this level represents a pivotal threshold, and surpassing it may lead to accelerated bullish momentum. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target The broader crypto market adds another layer of intrigue, with Bitcoin once again nearing its all-time high. Historically, Bitcoin’s movements have fueled market-wide rallies, and its current trajectory could provide the momentum needed for Solana to break out of its range and achieve new highs. As traders closely monitor both Solana’s and Bitcoin’s price action, the coming days will likely set the tone for the next chapter in this bullish cycle. Will Solana leverage market strength to surge past $225, or will resistance hold, leading to further consolidation? The unfolding narrative promises to be crucial for altcoin enthusiasts and market participants alike. Solana Testing Crucial Supply  Solana is consolidating below critical supply levels that could act as a launchpad for testing its all-time high at $258. Currently trading in a tight range, Solana’s price action reflects indecision as traders and investors anticipate the next big move.  According to key analyst Runefelt, the altcoin is positioned for a breakout. Sharing his technical analysis on X, Runefelt outlined a potential 12% surge, targeting the $246 resistance level—a crucial hurdle before Solana can challenge its historical peak.   Breaking above this level would signal strong bullish momentum and likely set the stage for a rally to new all-time highs. However, for this scenario to play out, Solana must not only breach current levels but also hold them as support. Consolidation above these key thresholds would reinforce confidence among market participants and attract more demand, further fueling upward momentum. Related Reading: Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs The broader market’s movements, particularly Bitcoin nearing its all-time highs, add another layer of significance. If Bitcoin sustains its bullish trajectory, it could provide the necessary tailwind for Solana to break through its consolidation phase. The coming days will be crucial in determining Solana’s direction. A breakout to the upside could solidify its place as a leading altcoin this cycle, while failure to hold above current levels might delay the rally. Key Levels To Watch  Solana (SOL) is currently trading at $219 after four days of sideways consolidation just below the critical $225 resistance level. This consolidation reflects a market waiting for a decisive breakout as traders eye the next move. Holding above the $200 demand level remains essential for confirming the bullish outlook. This support has acted as a foundation for Solana’s recent uptrend, and a failure to maintain it could signal weakness and open the door for further downside. Breaking and holding above the $225 resistance, however, is pivotal to affirm Solana’s bullish trend. This level serves as a psychological barrier and the bears’ last stronghold, with many likely to take profits or initiate shorts. If Solana can overcome this resistance, it could set the stage for an aggressive rally to all-time highs, effectively ending selling pressure. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% A decisive breakout above $225 would not only signal bullish strength but also create a domino effect, attracting new buyers and fueling momentum. Such a move could lead to a sharp climb, putting SOL on track to challenge its $258 all-time high and potentially set new records. In the coming days, all eyes will be on Solana’s ability to reclaim key levels and build on its bullish momentum. Featured image from Dall-E, chart from TradingView

Dogecoin and Solana are two of the largest cryptocurrencies by market cap and are closely positioned within the top ranks of the market, with only BNB separating them. Both cryptocurrencies have seen their respective market caps increase massively in the past 30 days.  At the time of writing, Solana has a market cap of $104 […]

Solana recently broke its yearly high at $210, sparking a surge in trading activity as the altcoin now attempts to consolidate above this key level. This period of volatile price action highlights Solana’s strong position within the market, as investors watch for signs of a further breakout.  Top analyst and investor Immortal recently shared an insightful technical analysis comparing Solana’s chart to Bitcoin’s historical price movements, suggesting that Solana’s next breakout may be imminent. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% As the market reaches new highs, Solana’s ability to hold above $210 could indicate strength, drawing in additional interest from retail and institutional investors. In the coming days, Solana’s price action will likely clarify whether this consolidation phase is merely a pause before a more substantial move.  With the broader crypto market reaching unprecedented levels, Solana is positioned at a critical juncture, and traders will closely monitor its performance for signs of a continuation of its upward trajectory. Solana Preparing For A Rally Solana appears poised for a significant rally, having broken out of an 8-month accumulation phase that began in March. This critical development has caught the attention of top analyst and trader Inmortal, who shared an analysis on X, comparing Solana’s recent chart patterns to those of Bitcoin. His technical perspective suggests that Solana mirrors Bitcoin’s past price movement and could be on the cusp of a substantial surge. Following its break above the yearly high of $210, Solana’s next target is likely to be its all-time high of $258. This level is viewed by many as a critical resistance, and a successful test could pave the way for even greater price gains. The breakout from such an extended accumulation phase has bolstered confidence in Solana’s bullish structure, and the market is closely watching for signs of sustained momentum. The timing of this potential move is also strategic. As Bitcoin consolidates just below its all-time high, a period of stability could provide the perfect window for altcoins, particularly Solana, to gain traction. This pause in Bitcoin’s rally allows liquidity to shift toward other strong projects, positioning Solana well for a possible continuation of its upward trend. Related Reading: Dogecoin Could Target $2.4 If Price Aligns With Macro Pattern – Details The next few days will be pivotal for Solana as traders look to see if it can sustain support above $210. If Solana holds this level and momentum remains, a push toward the $258 all-time high could unfold rapidly, further solidifying its role as a leading altcoin in the market’s current bull phase.  SOL Testing Last Supply Levels Before ATH Solana is currently trading at $220, having broken its yearly highs, yet it’s now encountering some volatility as traders assess the next move. With SOL just 17% away from its all-time high of $258, many are watching closely to see if it can sustain this momentum without giving traders any lower entry points. The $210 support level is particularly crucial in the coming days. If SOL fails to hold above this mark, a short-term correction could drive prices lower, potentially offering some breathing room for buyers looking to enter before the next rally. However, should SOL remain steady above $210, the likelihood of a rapid push to new highs becomes even stronger, as it signals ongoing bullish strength in a market eager for upward movement. Related Reading: Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs As Solana continues to consolidate at these elevated levels, a decisive break could ignite a swift rally, drawing in both retail and institutional interest. Traders are preparing for either outcome: a brief correction as a buying opportunity, or a breakout that takes Solana into uncharted territory, setting new highs and reaffirming its place among top-performing altcoins this cycle. Featured image from Dall-E, chart from TradingView

Surging activity in onchain and derivatives metrics suggests that Solana’s bullish momentum is set to continue. 

VanEck’s proposed spot Solana (SOL) exchange-traded fund (ETF) is facing scrutiny due to concerns over wash trading and the nature of on-chain activity. Matthew Sigel, Head of Digital Assets Research at VanEck, published an in-depth analysis on Tuesday, comparing SOL’s metrics with those of Ethereum to provide context and clarity. Solana has been recognized for […]

Solana is trading above a critical demand level of around $157, showing signs of a potential bounce after a recent pullback. This critical level has held firm despite market volatility, and now all eyes are on Solana as it attempts to regain bullish momentum. With the U.S. election unfolding and the Federal Reserve’s interest rate decision just around the corner, this week promises to bring heightened volatility across the crypto market. Related Reading: Bitcoin Open Interest Dropped Significantly – Investors Cautions Amid US Election Week? Top analyst and investor Carl Runefelt has shared a technical analysis indicating that Solana must break above a key resistance level in the coming days to regain a strong uptrend. Runefelt notes that this resistance has kept the price in check, and a breakout likely leads to renewed optimism for SOL investors.  However, the risk of further downside remains if Solana fails to secure a position above this critical resistance. As these significant macro events unfold, Solana’s next moves will be closely watched, as breaking resistance could signal a larger rally in the near term. Solana Trading Within Bullish Pattern  Solana has been a standout performer in this cycle, showing resilience as it holds above a crucial support level that previously acted as resistance. This pivotal moment could determine Solana’s near-term trajectory as it battles to reclaim bullish momentum.  According to top analyst Carl Runefelt, who shared insights on X, Solana faces a critical test at a descending resistance level that has consistently capped its gains. Runefelt’s technical analysis, focused on the 2-hour SOL chart, highlights this resistance around the $164 mark.  He suggests a confirmed breakout above this level would likely propel Solana higher, signaling a return to bullish price action. However, there’s potential for sharp price swings this week, with the U.S. election and Federal Reserve interest rate decision creating an environment ripe for uncertainty and market manipulation. These macro events have the potential to significantly impact Solana’s movement, making the resistance break even more critical. Related Reading: Ethereum Risk-To-Reward Ratio Is ‘Too Good To Pass Up’ – Top Analyst Sets $6,000 Target If Solana breaches this resistance and establishes support above $164, it could attract bullish sentiment, pushing the altcoin toward new local highs. However, failure to do so could lead to increased selling pressure and a risk of a retracement, especially if broader market volatility intensifies. As such, the upcoming days will be crucial for Solana’s path forward, with traders and investors closely monitoring this key level. SOL Price Action: Key Levels To Watch Solana (SOL) is trading at $161 after a recent bounce from local lows at $155. This move has established a strong support base of around $155, which has proven crucial in holding off further downside.  For bullish momentum to take hold, SOL now needs to clear the $165 resistance level, which would confirm the potential for upward price action. A sustained push above $165 could signal strength and encourage buyers, paving the way for further gains. However, a retracement is likely if SOL fails to break above this critical level. In this scenario, the price could fall back to the subsequent demand zone around $150, which aligns closely with the 200-day moving average (MA). The 200-day MA is a widely observed indicator and often acts as a strong support level in technical analysis, reinforcing the $150 zone as a potential floor. Related Reading: Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect This consolidation phase places SOL in a pivotal position, with price direction largely dependent on its ability to overcome $165. As traders watch closely, this technical setup suggests that SOL’s next move will likely define its short-term trend, with $150 as a key fallback level if the bullish case doesn’t materialize. Featured image from Dall-E, chart from TradingView

In an analysis shared on X, popular crypto analyst Gum (@0xGumshoe) is projecting that Solana (SOL) could ascend to $500 by the conclusion of this bull run. This bullish forecast hinges heavily on the outcome of the US presidential election, slated for November 5th, and the potential policy changes that could follow. Solana Price Prediction For This Bull Run @0xGumshoe initiated his forecast with a bold declaration: “SOL TO $500. The upcoming US elections will affect SOL more than any other token. Here’s why I’ve changed my price target.” Delving into the potential scenarios, @0xGumshoe examined the implications of both possible election outcomes—whether Kamala Harris secures the presidency or Donald Trump returns to office. Each scenario presents distinct pathways for Solana’s trajectory. Related Reading: Solana Likely To Target $200 ‘If It Holds Current Support’ – What To Expect In the event of a Kamala Harris victory, @0xGumshoe anticipates a mixed impact on Solana. He noted, “BTC and SOL have outperformed during Biden/Harris,” pointing especially to the performance of the past year under the current administration. The approval of the spot Bitcoin and Ethereum Exchange-Traded Funds (ETFs) during the Biden/Harris tenure is highlighted by the analyst as a positive factor that could continue to benefit Solana. Additionally, Harris’s supposed commitment to a “less aggressive stance towards crypto” regulation suggests a more favorable environment for the growth of Solana. However, @0xGumshoe also cautioned about potential challenges under a Harris administration. He remarked, “Less regulatory clarity” and a potential new term for SEC Chair Gary Gensler could complicate things for Solana. Furthermore, the possibility of a spot Solana ETF facing rejection and an increase in Bitcoin dominance might overshadow altcoins. Conversely, @0xGumshoe presented a more bullish outlook if Donald Trump wins the election. He asserted, “A Trump win will send Solana to ATHs as the market realizes a SOL ETF will be coming.” The analyst emphasized that unlike Bitcoin and Ethereum, Grayscale is unlikely to offload significant amounts of Solana, which could help sustain its price. Additionally, the analyst points to the possibility of establishing a Bitcoin Strategic Reserve and the departure of SEC Chair Gary Gensler as bullish catalysts for SOL. Related Reading: Solana Q3 Digest: Total Value Locked Hits $5.7 Billion, Ranks Third Among Networks However, a Trump victory could also have downsides. @0xGumshoe acknowledged that “higher inflation could eventually end the cycle like in 2021.” Furthermore, he noted Trump’s inherent volatility, stating that the former president “may not do what he promised,” which introduces an element of unpredictability to the projections. In light of these scenarios, @0xGumshoe revised his selling targets for Solana. Previously advocating for a $300 sell target, he now contemplates a higher threshold of $500, contingent upon a Trump win and an increase in macro liquidity. He explained, “If we pair up a Trump win and increase macro liquidity, I will instead sell over time for as long as I believe we hit $500.” The rationale behind the $500 price target is anchored in Solana’s fully diluted valuation (FDV). @0xGumshoe articulated, “At that price, Solana would have a $291B FDV which would put it at the current ETH market cap.” He views this valuation as a significant benchmark, suggesting that Solana’s price could approach Ethereum’s market capitalization unless there is a substantial influx of investments through ETFs, which could propel the token beyond this threshold. Under the Harris administration, @0xGumshoe’s price target for Solana remains at $300. @0xGumshoe concluded his analysis by advising caution, stating, “The elections alone are not enough to predict tops for Solana so take this with a grain of salt. Whatever happens, it is quite obvious that SOL will go far higher with Trump than Harris.” At press time, SOL traded at $161. Featured image from Coinbase, chart from TradingView.com

Solana (SOL) is currently trading at a crucial demand level near $163, following a retrace from local highs around $183. This price is a critical support area that could determine the direction of SOL’s upcoming price action. Losing this level could signal a deeper correction, which would intensify selling pressure and potentially push SOL to retest lower support levels. However, top analyst Daan shared a technical analysis suggesting that if SOL can hold this “green zone” around $160, it could pave the way for a rebound. Daan notes that in the most optimistic scenario, SOL could hold this support and start a gradual climb, ultimately aiming to test the downtrend line that has kept it in check. This setup would keep SOL’s bullish structure intact, creating a potential entry point for investors eyeing a bounce. Related Reading: Bitcoin On-Chain Indicator Signals Panic Selling At Current Levels – Time To HODL? With the broader crypto market showing volatility and Solana facing this pivotal level, the next few days will be crucial. Traders and investors are closely watching to see if this demand zone can support a reversal, potentially leading SOL back toward recent highs. Solana Holding Strong Despite Uncertainty Solana (SOL) has managed to hold above the key support level around $160, despite the recent market volatility and uncertainty. This level is crucial for SOL’s price structure, as it’s a strong demand zone that could act as a foundation for the next upward move.  Crypto analyst Daan recently shared his perspective on X, revealing that SOL’s “most bullish case” would be for it to hold this “green zone” around $160, allowing it to gradually grind back up toward the descending trendline that has capped recent gains. In Daan’s view, the next attempt at this trendline could likely result in a successful breakout, with the potential to push SOL’s price above $200. He suggests that waiting for confirmation of this breakout could be a sound strategy for cautious investors, as there is still ample room for upside even after a confirmed reversal. His analysis highlights a confident outlook on SOL’s potential recovery, seeing this accumulation zone as a promising buying opportunity. However, Daan also acknowledges that there’s still a degree of downside risk. If SOL fails to hold above this $160 level, a deeper correction could follow, potentially driving SOL to test lower support levels.  Related Reading: Analyst Exposes Ethereum Ascending Support At $2,400 – Best Chance To Accumulate ETH? For now, the market will watch this support level closely as a critical indicator of SOL’s short-term trend. Holding above it would signal strength and open the door for a potential rally, while a breakdown could lead to a more extended bearish phase. As the overall market sentiment remains mixed, Solana’s next moves will be critical for traders and investors alike. SOL Price Action  Solana is currently trading at $163 after tagging the 4-hour 200 exponential moving average (EMA), a critical indicator of short-term strength. Holding above this EMA signals a bullish outlook for SOL, suggesting that buyers are stepping in to support the price at this level. If SOL can maintain momentum above the 200 EMA, it could build a foundation for a potential rally to new local highs, possibly challenging the recent peak around $183. However, the $160 level remains a crucial support area. Losing this support would likely trigger significant selling pressure, potentially driving SOL down to the $150 range, where further demand may emerge. This zone would be closely watched by investors looking for potential accumulation opportunities, as a dip could provide favorable entry points for long-term holders. Related Reading: Bitcoin Open Interest Reduced By $2.1 Billion In 24 Hours – Time For Spot To Push The Price? In contrast, a strong push above the current demand level would confirm renewed bullish momentum, paving the way for SOL to target and possibly surpass recent highs. As SOL hovers around this key technical zone, traders will be watching for any decisive movement that could signal the next direction, whether it be a continued uptrend or a retracement to lower demand levels. Featured image from Dall-E, chart from TradingView

Solana (SOL) is trading around a crucial demand level at $165, following a pullback from recent highs of $183. This level is pivotal for SOL, as losing it could trigger a deeper correction, putting the altcoin at risk of further downside.  However, prominent analyst Carl Runefelt has shared technical analysis indicating that Solana may be primed for a brief correction before staging a rally to retest local highs. Related Reading: Bitcoin Open Interest Reduced By $2.1 Billion In 24 Hours – Time For Spot To Push The Price? Runefelt’s analysis highlights signs of renewed strength for SOL, suggesting that the altcoin is preparing for a move that could challenge recent highs within the next few days. This bullish setup depends heavily on Solana maintaining support at $165, which could act as a launchpad for further upward momentum.  As the crypto market closely watches Bitcoin’s bid for a new all-time high, Solana investors are bracing for potential volatility. In this uncertain landscape, Solana remains a focal point for investors who see an opportunity if support holds steady.  Solana Holding Key Demand Level Solana (SOL) has emerged as one of the stronger-performing altcoins this cycle, drawing significant attention as it tests a key demand level that could drive it toward new highs. Prominent analyst and investor Carl Runefelt recently shared a technical analysis on X, indicating that SOL may briefly dip to around $160 before staging a push to retest its recent high at $180. According to Runefelt, this $160 level represents a critical support zone for Solana, as holding above it is essential to sustain the altcoin’s bullish momentum and confirm its ongoing uptrend. Runefelt’s analysis emphasizes the importance of this support level in fueling Solana’s potential for gains, suggesting that it could serve as a springboard for a substantial rally.  If SOL successfully holds above $160, a surge to test local highs would not only reinforce confidence among investors but also set the stage for Solana to push into new territory if broader market conditions remain favorable. The coming week could prove pivotal for SOL as the market braces for heightened volatility with the US election on the horizon (Nov 5) and Bitcoin nearing its all-time high. Related Reading: Analyst Exposes Ethereum Ascending Support At $2,400 – Best Chance To Accumulate ETH? As investors monitor macro events and Bitcoin’s movements closely, Solana’s technical setup around $160 will be a focal point for those seeking to capitalize on the altcoin’s potential gains. If Solana maintains its bullish structure, it could play a key role in leading the altcoin market forward in this cycle. SOL Technical Levels To Watch Solana is trading at $166 after a slight rebound from the $163 level, maintaining a strong position above the critical $160 support zone. This level has proven to be a vital threshold for SOL, as a sustained hold here could set the stage for a rally toward higher resistance levels.  If buyers successfully defend $160, it may serve as the foundation for a climb to $183 and potentially beyond, with higher supply zones likely to be tested. Related Reading: Bitcoin Consolidates Near ATH – Volume Suggests A Big Move Ahead Analysts are watching this level closely, as it could either reinforce SOL’s bullish structure or signal the need for further consolidation. A breakdown below $160, however, would likely lead to a deeper correction, prompting traders to recalibrate their expectations as Solana seeks lower support levels. The next few days will be crucial as the market evaluates SOL’s strength at $160 and prepares for potential moves to new highs. Featured image from Dall-E, chart from TradingView

In a surprising take, a crypto analyst has foreseen a crash in the price of Solana despite the ongoing bull momentum. This analyst is projecting a crash in the price of Solana, offering a fresh perspective on the crypto heavyweight. According to a crypto trader who goes by the name AlanSantana on TradingView and is very active on the trading platform, Solana’s trading volume in the past two months suggests the crypto is gearing up for a crash. Analyst Predicts Massive Crash For Solana AlanSantana observed that Solana’s trading volume has dropped significantly between September and October 2024, a development that often signals a bearish outlook and may suggest an upcoming downward price impulse. Inferring from this outlook, this suggests that the volume trend is pointing towards demand tapering off.  Related Reading: Bitcoin Price Breaks Out Of 7-Month Descending Broadening Wedge Pattern For Continuation Above $70,000 The analyst also draws a contrast with last year’s trading activity, specifically from September to November 2023, when Solana’s volume was on the rise. This uptick in trading volume fueled a bullish rally that extended through the first quarter of 2024, with momentum carrying Solana to substantial highs by March. Based on the difference in two time periods and the current decrease in trading volume, the analyst suggested that there is a higher probability of Solana going in a main bearish direction. In light of this, he highlighted a Solana price crash below the $50 price level. Interestingly, a crash below $50 will effectively cancel out the gains in the past year and would return the cryptocurrency to its price range in November 2023.  SOL Whales Continue With Activity Solana is still largely in a bullish mode despite the decline in trading volume that was pointed out by AlanSantana. According to data from on-chain tracking firm Lookonchain, crypto whales are have upped their Solana trading activity in the past week, as evidenced by on-chain data.  Related Reading: Dogecoin Price Is About To Complete This Breakout To A Descending Megaphone Pattern, Is $1 Next? In a recent post on social media platform X, Lookonchain highlighted three instances of Solana whale addresses withdrawing SOL tokens from crypto exchanges and staking them. The largest withdrawal came from address “AA21…VxH9,” which moved 153,511 SOL tokens worth approximately $26.4 million from Binance to stake them. Another whale, identified by the address “EHax…gAUa,” withdrew 35,498 SOL tokens valued at $6.12 million from Binance and Kraken over the last three days, also staking the tokens. On the other hand, whale address “EGzi…mR7g” bought 13,000 SOL tokens worth $2.3 million from Binance to bring its total holdings to 95,651 SOL. Interestingly, another smart Solana whale address recently sold 26,726 SOL worth $3.86 million. This whale, known for buying low and selling high, currently holds 42,729 SOL, which are valued at $7.61 million. At the time of writing, Solana is trading at $178, up by 8% in seven days. The accumulation and momentum are bullish, and a crash towards $40 seems bleak at the moment. Featured image created with Dall.E, chart from Tradingview.com

Solana has had an impressive year. After worrying dips in late 2022, the bounce of the second half 2023 thrusted the platform to the top five. At spot rates, not only is SOL, the native token up 100% over the last 10 months, but the network is now a meme coin hub. Solana is the […]

Solana is showing strength as it pushes above the critical $171 level—a price that previously acted as supply and now serves as a solid demand zone. This level is relevant for bulls, as holding above could pave the way for a rally in the coming weeks. Crypto analyst and investor Carl Runefelt recently shared a technical analysis indicating that Solana’s current price action remains bullish as long as it sustains support above this mark.  Related Reading: Ethereum Whale Activity Spikes To 6-Week High – Smart Money Accumulation? Solana’s ability to turn former resistance into a support base reflects increased demand, which could act as a catalyst for further upward momentum. The market is closely monitoring these movements, and the next few days are expected to be crucial for Solana. If SOL maintains its trajectory above $171, it may spark optimism for an extended uptrend. Investors will likely keep a close eye on Solana’s price dynamics, as any shift below this level could alter the short-term outlook for one of crypto’s most promising assets. Solana Testing Liquidity Top investor Carl Runefelt recently shared his insights on X, highlighting the significance of Solana’s head and shoulders pattern. In his analysis, Runefelt noted that a successful neckline retest would confirm the bullish trend’s strength.  Runefelt’s chart analysis further indicates that as long as SOL remains above the neckline, bullish momentum is expected to persist, with his target price set at $202 in the short term. This potential upward movement has caught the attention of both investors and traders who are looking at the $202 level as an achievable target if the current bullish trend continues. Runefelt’s analysis underscores that the neckline acts as a critical support level—one that, if maintained, could drive strong buying interest. However, any break below this neckline could shift the momentum, potentially leading to a more cautious outlook. Related Reading: Bitcoin Bullish Outlook Confirmed By Critical Data – STH Overheating? With the head and shoulders structure forming, Solana’s price action will be crucial in the next few days. A successful retest of the neckline could fuel continued growth, possibly pushing SOL to new highs. SOL Price Action Solana (SOL) is trading at $172, steadily climbing as it targets a higher supply zone. To maintain this bullish momentum, SOL bulls need to push the price above the critical $180 resistance level. This $180 mark acts as a key resistance, and breaking it could potentially trigger a wave of FOMO (fear of missing out) buying, which would drive the price even higher. This psychological level may attract increased interest from traders who see a clear breakout as a signal for more gains. However, maintaining this bullish trend is essential. If SOL cannot maintain support above $171, a retracement to lower demand zones is likely. This move could bring SOL back to test support levels closer to previous lows, possibly slowing down the current momentum. Related Reading: Solana Breakout From Bullish Pattern Could ‘Send SOL To The Moon’ – Crypto Analyst For traders and investors watching closely, the next moves around the $171 and $180 levels are key indicators. A strong push past $180 could suggest continued strength in Solana’s price action. A drop below $171 would signal weakness, indicating a temporary pause or pullback in the recent rally. Featured image from Dall-E, chart from TradingView

Solana (SOL) has shown remarkable strength in recent weeks, surging by 32% over the past fifteen days. This impressive price action has positioned SOL as one of the top-performing assets, outpacing Bitcoin and many other altcoins.  Analysts and investors are increasingly optimistic about Solana’s potential, with many forecasting continued upward momentum in the weeks ahead. Notably, prominent investor Carl Runefelt recently shared a technical analysis on SOL, highlighting a breakout from a bullish pattern that could signal massive gains for the cryptocurrency. Related Reading: Number Of Bitcoin Bulls Increases As Funding Rate Shows Steady Growth – Details With this breakout, price action remains firmly bullish, indicating that the next major target for SOL is around the $185 level, where it will encounter local supply. If momentum holds, Solana could soon challenge this key resistance, further solidifying its place as a leader in the current market cycle. Solana Breaking Out Of Cup&Handle Pattern Solana is breaking out from a classic “Cup & Handle” pattern, often associated with strong bullish moves. This pattern has caught the attention of top analyst Carl Runefelt, who recently shared his technical analysis on X, indicating that Solana’s recent price action aligns with a breakout from a descending channel.  According to Runefelt, this setup signals that Solana could be ready for a significant upward move. He shared a chart with a potential price target of $370, suggesting a substantial 115% surge from current levels. Runefelt’s optimism stems from the Cup & Handle pattern, where the price consolidates after an uptrend and then forms a small dip (the handle) before breaking out. This pattern is known to attract strong buyer interest, representing a period of consolidation and momentum building.  However, while the breakout is promising, it may take some time to fully play out, as the entire crypto market appears to settle before its next significant move. Solana has consistently outperformed in this cycle, with price action and volume reflecting sustained investor interest.  Related Reading: Dogecoin Liquidity Sweep Signals DOGE Is Ready For A Rally With Solana pushing through key resistance levels and establishing a solid foundation, the potential for a bullish continuation is high. If the breakout confirms and Solana’s momentum holds, the next weeks could see SOL pushing into new heights, solidifying its position as a top-performing altcoin and meeting investors’ bullish expectations for substantial gains ahead. SOL Testing Crucial Supply  Solana is trading at $171, maintaining a strong uptrend with a well-defined bullish structure over the past two weeks. This level represents a key demand zone that previously acted as resistance, signaling a potential for higher gains if the price holds steady. A continued hold above $171 would support further bullish momentum, potentially pushing SOL toward the next significant supply area at $185. However, should SOL lose the $171 support, a retrace to around $160 is likely. This level has been pivotal in the past weeks, serving as a strong resistance point that capped previous price attempts to rise, creating a solid foundation for renewed bullish interest. A move down to $160 wouldn’t necessarily break the overall uptrend but would offer an opportunity to consolidate before the next push higher. Related Reading: Ethereum Bullish Breakout Confirmed – Top Analyst Predicts $3,400 Target As investors and traders watch these levels closely, the $171 mark will be an immediate gauge of strength. Holding above it keeps the uptrend intact, while a dip to $160 would still offer support for Solana’s longer-term bullish outlook. SOL’s resilience in these levels reflects the optimism surrounding the asset’s potential in the weeks ahead. Featured image from Dall-E, chart from TradingView

Solana (SOL) is holding strong above the $160 mark after the broader market experienced a healthy dip to previous demand levels. Despite the dip, Solana has shown resilience, though the past few hours have been marked by short-term volatility with rapid price fluctuations. Investors are closely monitoring the next moves as Solana navigates this uncertain phase. Related Reading: 53% Of Binance Traders Are Shorting Bitcoin – What Does This Mean For Price Action? Top analyst Carl Runefelt recently shared a technical analysis suggesting a potential surge for SOL in the coming days, with a target of $176. His analysis highlights key bullish patterns, but concerns about the broader market correction could drag Solana down if the correction intensifies. With the market in flux, the next few days will be crucial for SOL. Investors watch closely for signs of strength or weakness that could influence the price action. While optimism remains for a potential surge, caution is warranted as the market correction unfolds. Solana Testing Previous Supply As Demand  Solana is currently at a critical level, holding strong above $160, a price that had previously acted as resistance since early August. SOL has broken above this level and found support, so it signals a potential shift in the monthly trend that has kept the price suppressed. Investors are watching closely to see if this shift will lead to continued bullish momentum. Crypto analyst and investor Carl Runefelt recently shared a technical analysis on X, offering insight into Solana’s short-term outlook. He revealed a 1-hour chart showing a symmetrical triangle, a bullish pattern often preceding strong price movements.  The upper line of this triangle sits around $168, and Runefelt suggests that if SOL manages to break above this level, the next target would be $176. This would mark a significant push to new local highs, further solidifying Solana’s bullish trend. As Solana continues to hold above $160, the market is waiting. Investors are exercising patience and are aware that the next few hours and days could be pivotal for SOL’s price action.  Related Reading: XRP Network Activity Surges As Price Seeks To Break $0.55 Resistance If the bullish pattern materializes and the price breaks out, it could lead to a significant rally. However, until that breakout occurs, traders are cautious, knowing that short-term volatility could still impact Solana’s performance. Technical Levels To Watch  Solana is currently trading at $165 after facing a rejection from the $171 mark, a key resistance level that may hold the price down for a few days or weeks. Despite this setback, SOL has shown resilience, rebounding strongly from the daily 200 moving average (MA) at $150 and successfully breaking past the $160 resistance. This breakout is a significant development, signaling a potential upside once the broader market begins pushing up again. Holding above the $160 level is crucial for SOL, reflecting investor confidence and signals strength in the price action. Holding this support level would signal optimism about Solana’s ability to rally and reach new yearly highs in November. Related Reading: Ethereum Bullish Breakout Confirmed – Top Analyst Predicts $3,400 Target The coming days will determine whether SOL can keep bullish momentum or if a prolonged consolidation below $171 is in. Investors are closely watching for signs of strength and a continued push higher. Featured image from Dall-E, chart from TradingView

After a brief retracement, the Solana price has found support at the $163 mark and is currently trading at approximately $168. The cryptocurrency is again approaching a significant resistance level at $170, which has posed a challenge for the token over the past month. Despite the recent fluctuations, bullish sentiment surrounding Solana remains strong among analysts. Many are projecting new all-time highs above its previous record of $259, set in November 2021. Analysts Eye Potential Bullish Breakout In the past 24 hours, Solana has rebounded nearly 3%, although trading volume has dipped by about 2%, according to data from CoinGecko. This decline in volume indicates that despite some profit-taking, bullish investors continue to show interest, particularly after the recent retracement.  Related Reading: Solana Eyes New All-Time High Of $370 After Cup And Handle Breakout Crypto analyst Byzantine General has noted that buying pressure appears to be strengthening at lower support levels, with traders eager to capitalize on dips experienced by the Solana price in the short term. Looking at the bullish predictions, Captain Faibik recently suggested in a social media post on X (formerly Twitter) that Solana is poised for a “bullish pennant” breakout following a prolonged consolidation period observed on the 3-day SOL/USDT chart.  Faibik believes that a successful breakout from this pattern could propel Solana to a new all-time high of $400 within the current bullish cycle, expected to last at least through the first quarter of 2025. However, this forecast is somewhat conservative compared to the more audacious prediction from market expert Crow.  How The Solana Price Could Reach $800 In a separate social media post, Crow indicated that the Solana price could surge by approximately 400% during this bull run, recalling the previous price actions of the 2021 uptrend.  The expert highlighted that the last bull cycle featured two distinct phases: the rise from $3 to $50 and another jump from $25 to $250. He notes that Solana has progressed from $16 to $200 this time, and he foresees a possible climb from $200 to $800. Despite the bullish predictions, it is important to recognize that bull cycles do not typically progress in a straight line. Historical data illustrates this point, with Solana experiencing significant retracements of over 20% on August 5 and September 6, respectively. Related Reading: Here’s Why The Bitcoin Price Saw Sharp Crash Below $67,000 To navigate these fluctuations effectively, it is essential to analyze SOL’s daily chart and identify key support levels that, if maintained by bullish investors, could help prevent further declines. In the event of a deeper correction, the first crucial support level to watch is the $160 mark. Additional support levels are identified at $153 and $145. The most significant support, however, is located in the $127 zone. This level has proven resilient throughout the token’s consolidation phase in past months, effectively halting further price declines and safeguarding the critical $100 mark. Featured image from DALL-E, chart from TradingView.com

Solana (SOL) has been experiencing significant volatility and choppy price action since Monday, testing a crucial supply level that will determine its direction in the coming weeks. As the market continues to push higher, most analysts and investors are anticipating a potential surge for SOL, especially with the $160 resistance level appearing to weaken under recent upward pressure.  The crypto community is closely watching these developments, as breaking through this key resistance could lead to substantial gains for the altcoin. Related Reading: Bitcoin ETFs See $1.6B Inflows This Week – Is BTC Reaching A New ATH Soon? Top analyst and investor Carl Runefelt recently shared a technical analysis that paints an optimistic picture for Solana’s price action in the next few hours. According to Runefelt, the weakening resistance could pave the way for a breakout, with bullish momentum carrying SOL to higher targets.  While the market remains volatile, confidence in Solana’s ability to overcome current challenges is growing. If the supply level is breached, it could mark the start of a new upward trend, making SOL a focal point for traders looking for opportunities in the current market landscape.  The next few days will be critical in shaping Solana’s trajectory, as investors will closely monitor whether the price will confirm the anticipated rally. Solana Bullish Pattern Signals Momentum The entire crypto market is experiencing heightened volatility, and Solana has not been immune to it, with its price fluctuating between $148 and $160 since Monday. This consolidation phase has left traders eager to see which direction the altcoin will take in the coming days. Runefelt recently shared a technical analysis on X, highlighting that Solana is breaking out of a 1-hour Falling Wedge pattern, a bullish signal. The immediate upside target is $159.6, a level that, if broken and sustained, could lead to a massive surge toward $185—a significant move that would position Solana near its yearly highs. Despite this bullish setup, the market remains cautious, and there is still the risk that Solana could fail to reclaim key levels. If the price struggles to break and hold above the $159.6 resistance, the current consolidation could persist or even lead to a potential pullback, with downside targets near $148. Such a scenario would disappoint bulls looking for a rally and could dampen market sentiment temporarily. Related Reading: Ethereum Bullish Pattern Signals Upcoming Rally – Analyst Sets $2,870 Target A confirmed breakout and sustained momentum could signal the beginning of a new bullish phase, attracting both retail and institutional investors.  However, the risk of a failed breakout looms, keeping market participants on edge. Traders are watching closely as Solana’s next move will likely set the tone for its performance over the next few weeks. If it breaks through resistance, SOL could be well on its way to challenging yearly highs. Technical Levels To Watch Solana is currently trading at $154 after finding support at the 200-day moving average (MA) at $150.7, a critical level that signals long-term strength if it holds as a demand zone. This MA has historically acted as a key indicator for market trends, and holding above it would reinforce the bullish outlook for SOL. For bulls to maintain momentum, the price must stay above the 200-day MA and push to break the crucial $160 resistance, a level that has capped Solana’s upward movement since early August. Breaking through this resistance would signal a potential surge in price, opening the door to further gains in the coming weeks. However, if SOL fails to hold above the 200-day MA and cannot overcome the $160 resistance, it risks a corrective move. A drop below the 1D 200 MA could lead to a decline toward $140, a level that will play a pivotal role in determining the next phase of Solana’s price action.  Related Reading: Strong Buy Signal For DogWifHat (WIF) – Key Indicator Hints At Rally To $4 Bulls and bears alike are closely watching these key levels, as the next move could set the tone for Solana’s performance in the near term. Featured image from Dall-E, chart from TradingView

SOL price is down today as a pronounced decline in the memecoins' market leads to a drop in Solana network usage. 

Among the various altcoins in the market, the Solana price has been performing relatively well, experiencing slight price surges here and there. Based on a crypto analyst’s prediction, Solana could be creating up for a major bull flag that could send its price to new all-time highs above $1,000. It’s important to note that Solana is currently trading at less than one-ninth of this projected price target of $1,400. SOL Bull Flag Points To $1,400 Price Increase A crypto analyst on X (formerly Twitter) identified as ‘Titan of Crypto,’ has shared a bullish forecast for Solana, predicting its rise to astronomical highs. The analyst predicted that Solana could see its price jump to $1,400 soon.  Related Reading: Over $182 Million Wiped Out As Bitcoin Price Breaks $64,000 And Sends Bears To The Gallows In a comprehensive chart analysis of Solana’s price movements from 2023 till date, the analyst identified a well-defined bull flag pattern, which he described as “massive.” According to Titan of Crypto, the formation of this bull flag signals the potential for a major rally in the coming weeks and months. In the Solana price chart, the analyst traced the unique flag pattern, which began forming before October 2024. He extended the pattern into 2025, emphasizing that the flag would likely emerge around the end of 2024 or the beginning of the next year, before continuing its development through to October 2025.  If SOL can successfully complete this pattern without experiencing significant price declines, the crypto analyst expects the top altcoin to reach new all-time highs at $1,429 by 2026. However, a more conservative price projection was given by another crypto analyst, who suggested that a $1,000 price surge based on the Heads and Shoulders technical indicator was a more realistic price target for Solana. Echoing this sentiment, Titan of Crypto disclosed that Solana’s Fibonacci extensions currency suggests a potential move towards the $1,400 price mark. While maintaining his bullish outlook for SOL, the analyst acknowledged that a $1,000 price target is also possible. He adjusted his previous forecast, stating that he expects Solana to see a price increase around the $1,000 range.  Titan of Crypto has also confirmed that if Solana can pull off this projected price surge, its current market capitalization of $72.7 billion could potentially double, surpassing Ethereum’s market cap, which currently stands at $315 billion.  Related Reading: Crypto Analyst Predicts ‘Giga Pump’ For XRP Price, Here’s The Target Solana Price Fundamentals Remain Strong While analysts expect Solana to experience a bullish move soon, the cryptocurrency has also been showcasing strong price fundamentals amidst market volatility and previous declines in the Bitcoin (BTC) price.  The price of Solana is currently trading at $154.92, marking an 8.59% increase over the past week. The popular altcoin has already experienced another 1.75% price surge in the last 24 hours, underscoring investors’ positive outlook and sentiment for Solana.  Featured image created with Dall.E, chart from Tradingview.com

Solana is currently trading above the $140 mark, showing signs of strength as it prepares for a potential move to higher levels. After a modest 5% pump on Friday, investors and analysts are increasingly optimistic about the direction Solana could take in the coming months.  One prominent analyst, Carl Runefelt, has shared a technical analysis predicting a 20% surge for SOL in the next few weeks, citing bullish patterns and favorable market conditions. His analysis suggests that Solana could reach $176 by the end of the year if current momentum holds. Related Reading: Dogecoin Targets $0.11 As Short-Term Traders Fuel DOGE Price – Details However, Solana still faces key resistance levels that could challenge its upward trajectory. Despite the recent surge, some market participants are cautious, given the overall volatility in the crypto space. If Solana manages to maintain its current support and break through resistance, the next few months could be pivotal for the asset’s long-term price action. Can SOL capitalize on its recent gains and reach new highs, or will it struggle to maintain momentum in the face of market headwinds? Investors are eager to see how this plays out as we approach the end of the year. Solana Testing Supply Levels Solana has been trading within a range of $210 to $110 since mid-March, leading to mixed opinions among investors. While some see this price action as a consolidation phase, others believe it could signal an upcoming breakout. Notably, top analyst and entrepreneur Carl Runefelt recently shared a technical analysis on X, revealing a bullish triangle pattern forming for SOL. According to Runefelt’s analysis, if Solana breaks out of this triangle pattern, it could experience a sharp upward movement, potentially reaching $176 in the coming weeks. This would represent a significant surge from its current trading levels and a key milestone for SOL. The price has struggled to break through the $160 resistance level since early August, but Runefelt suggests that a breakout from the triangle could push the price well beyond this resistance. Related Reading: Cardano (ADA) Testing $0.34 Support – On-Chain Data Suggests Price Consolidation A successful break above these critical levels would mean a 20% surge for Solana, with bullish momentum potentially driving it even higher. Investors are closely watching these movements, as a breakout could signal the end of Solana’s extended sideways trading and mark the start of a new upward trend. If SOL can maintain support and continue this rally, it may soon test new highs and solidify its position as one of the top-performing altcoins. SOL Technical Analysis: Zones To Watch Solana (SOL) is currently trading at $145, following a 7% surge from local lows at $135. The price has managed to rise above the daily 200 exponential moving average (EMA) at $140, a key indicator of short-term trend strength. However, SOL is still 4% away from the crucial 200 moving average (MA) at $152, which represents a stronger, longer-term trend signal. A breakout above both the EMA and MA levels is essential for bulls to fully regain control and reclaim the trend. Surpassing these indicators could pave the way for a move to the $160 supply zone, where sellers are expected to be more active. This would signal a continuation of bullish momentum, with potential for further gains. Related Reading: XRP Will Jump 75% If It Holds Current Demand Level – Details On the other hand, if the price fails to hold above the $140 mark, this recent surge could be short-lived, and a deeper correction might follow. A break below this level could drive SOL down to $110, which is a significant demand zone that buyers may defend. Traders are keeping a close eye on these levels as the next few days will determine SOL’s s`hort-term direction. Featured image from Dall-E, chart from TradingView

Layer-1 chain Sui (SUI) has been capturing significant attention lately. As of this writing, SUI has surged by 125% over the past 30 days and has skyrocketed 345% from its yearly low of $0.46 on August 5. These impressive figures position SUI among the top performers in the crypto market over the last two months and as one of the few altcoins which reached their all-time high. SUI Vs. Solana Yesterday, the buzz intensified when several accounts on X shared charts suggesting that SUI had overtaken Solana in daily transactions for the first time. Enthusiasts quickly touted SUI as the next “Layer-1 killer,” poised to surpass Solana, which has been a leading contender among Layer-1 blockchains behind Ethereum. Related Reading: Solana (SOL) Path To New Highs: Analyst Eyes $160 As Critical Breakpoint However, this claim faced scrutiny from industry experts. Developer João Mendonça took to X to rebut the assertions, stating: “SUI did not surpass Solana in daily transactions — there’s no free lunch. On the left = a deceptive chart where each instruction of each transaction is counted as a transaction on SUI. On the right = Artemis’s genuine read of daily transactions.” Mendonça referenced a detailed explanation by analytics firm Artemis from May. The firm highlighted that in traditional Ethereum Virtual Machine (EVM) architectures, users submit transactions that execute a set of instructions. In contrast, on the SUI blockchain, users submit a transaction block containing multiple transactions that update objects in the global state. Therefore, comparing transaction counts directly between SUI and other chains like Solana can be deceptive. They explained: “Artemis decided to count Sui transaction blocks instead of transactions when comparing activity with Ethereum and other chains. This decision was based on the fact that Sui has a different architecture than the EVM, and counting transaction blocks gives a more accurate picture of user interactions.” Prominent crypto analyst VirtualBacon also weighed in on the discourse, analyzing the SUI/SOL price chart. He remarked: “SUI vs SOL ratio almost at resistance. One must question the upside potential of this ‘new killer L1’. For this to keep running another month, it either completely takes over the market share of Solana, or we rotate back to the proven chain.” Expressing skepticism about SUI’s ability to maintain its momentum against Solana’s price, he added: “Somehow people in comments believe they’re still early to $SUI at ATH and 20B FDV. It’s nowhere close to Solana level adoption imo.” Related Reading: Solana ‘In Serious Danger’ If $137 Support Breaks – Analyst Shares Targets Crypto analyst Michaël van de Poppe also casted doubts that the SUI price can run above the all-time high immediately. Via X, he wrote today: “SUI did run away and printed a new all-time high. The first one! Didn’t allow me to enter, but it might be topped for now. Looking at the same region or $1.85 for entry zones. Massive runner.” Despite the debates, SUI has undeniably been gaining traction. In September, Raoul Pal, founder and CEO of Global Macro Investor and RealVision, lauded SUI as a “groundbreaking ultra-fast L1, super efficient, full blockchain ecosystem”. He emphasized that SUI, developed from the remnants of Meta’s Diem project, is designed to scale for billions of users transitioning from Web2 to Web3 technologies. Pal’s endorsement amplified interest in SUI within the crypto community. Adding to its growing ecosystem, Circle—the company behind USDC, the world’s second-largest stablecoin by market capitalization—announced in September that the Sui network would support USDC. This integration is expected to enhance liquidity and utility on the Sui blockchain, potentially attracting more developers and users. Most recently, on Monday, crypto exchange Bybit announced support for SUI on its Launchpool platform. This move makes SUI only the second chain available on the service after Mantle (MNT), providing users with new opportunities to earn rewards and participate in the Sui ecosystem. At press time, SUI traded at $2.01. Featured image from CoinDCX, chart from TradingView.com

Solana is testing a crucial level after weeks of volatile price action and market uncertainty. Following the Federal Reserve’s interest rate cut announcement, Solana surged 26% but quickly retraced 17%, reflecting the ongoing turbulence in the broader crypto market. This rollercoaster price movement has left many investors on edge as they wait for the next clear signal. Related Reading: Can SUI Fall To $1.40? On-Chain Data Exposes Declining Demand Amidst this uncertainty, top analysts are closely monitoring Solana’s next move, with one in particular pointing to the $160 mark as the decisive level that could determine its direction. A breakout above this level could reignite bullish momentum, while failure to do so may lead to further downside pressure. The coming days will be critical for Solana as investors assess the market’s trajectory and brace for potential volatility. With SOL standing at a pivotal point, both bulls and bears are watching closely to see whether the price can break through key resistance or succumb to further correction. Solana Testing Liquidity Below $160 Solana has experienced significant ups and downs over the past couple of weeks, leaving investors uncertain after the latest dip. Many were anticipating further gains before the retrace, which has now sparked caution in the market. With Solana trading in this volatile environment, the focus has shifted to key technical levels that could determine the next big move. Top crypto analyst Daan has shared his insights on X, noting that Solana has formed three nearly equal highs around the $160 level. He also highlights that SOL is consistently making higher lows, a sign of potential bullish momentum building up. According to Daan, this gradual upward drift suggests that Solana could eventually break through the $160 resistance level, which would be a pivotal moment for the cryptocurrency. Related Reading: Chainlink (LINK) Bullish Pattern Could Ignite A Breakout: Analyst Sets $15 Target The reaction at $160 will be crucial. If Solana manages to break above this level, it could signal a push to new highs and reignite bullish sentiment in the market. However, if the price fails to maintain momentum, Solana might remain range-bound between $120 and $160, continuing its sideways movement. Investors are closely watching these levels as Solana’s next direction could define its performance for the rest of the year. Price Action: Supply Levels To Break Solana (SOL) is currently trading at $143 after experiencing a few days of choppy price action. The market has been volatile, and SOL is now testing the critical 4-hour 200 exponential moving average (EMA) at $144.55. This level serves as a key resistance point, and a breakout above it could signal a bullish continuation for Solana. If SOL manages to break and hold above the 4-hour 200 EMA, the next target for bulls would likely be the $160 level. A move above $160 could reignite positive sentiment, potentially setting the stage for further gains. However, if SOL fails to break above the $144.55 resistance, a retrace to lower demand zones is expected. Related Reading: XRP Price Bullish Potential Grows – A Surge Above $0.65 Will Trigger Buyers In the event of rejection at the 4-hour 200 EMA, Solana could dip to the $127 support level, where traders and investors will closely monitor for signs of strength or further downside risk. The price action over the next few days will be crucial in determining whether SOL can resume its bullish trajectory or if a deeper retracement is on the horizon. Featured image from Dall-E, chart from TradingView

Edward Snowden, the renowned whistleblower and privacy advocate, made sharp comments about Solana during the TOKEN2049 conference in Singapore. After delivering his speech, titled “The Next Threat to Speech,” Snowden engaged in a Q&A session where he criticized Solana’s architecture, expressing concerns about its centralized nature and the types of projects it facilitates. Responding to […]

Solana (SOL) is currently trading near a critical support zone at $145, following a 26% surge since the Federal Reserve announced interest rate cuts on September 18. After this sharp rise, SOL experienced a slight 10% dip, but the overall market sentiment remains optimistic.  Many analysts and investors hope Solana will reach new all-time highs by the end of the year, driven by positive macroeconomic trends and the growing confidence in the crypto market. Related Reading: Cardano (ADA) Faces Risk Of 30% Drop – On-Chain Metrics Confirm A Slow Demand Key data from Coinglass reveals a rising funding rate, which indicates increasing bullish sentiment among traders. This suggests that the recent price correction might only be a temporary pause before another leg higher.  Investors are closely monitoring SOL’s price action, with expectations that a sustained break above $150 could pave the way for a new rally toward uncharted territory. All eyes are now on Solana as it navigates this crucial support level, with both short-term traders and long-term holders anticipating a positive outlook in the coming weeks. Solana Is Preparing For A Rally Solana (SOL) is currently holding firm above a crucial support level following a small dip that affected the entire market yesterday. Despite this minor setback, the sentiment among investors and traders remains overwhelmingly positive. Many expect SOL to rally and surpass multi-month highs, given the recent strength in its price action. Key data from Coinglass highlights that Solana’s funding rate has been on an upward trend since mid-September. Yesterday, it reached 0.0127%, the highest level since late July. A rising funding rate is typically a bullish indicator, signaling growing demand for a token. The funding rate is a mechanism used in perpetual futures contracts, where it can be either positive or negative. It adjusts based on the price difference between the perpetual contract and the spot price, along with interest rates. When the funding rate is positive, buyers (longs) are paying sellers (shorts), which encourages futures and spot prices to converge. Related Reading: Dogecoin Could Target $0.20 Soon, Analyst Predicts – Is DOGE Primed For A Rally? This rising funding rate for SOL suggests that more traders are betting on the token’s future appreciation, expecting higher prices in the coming weeks. With Solana maintaining its current support and displaying strong market fundamentals, the potential for a significant rally remains high. Investors are now watching closely to see if Solana can break through its next resistance levels and confirm the start of a new bullish phase. SOL Testing Demand  Solana (SOL) is currently trading at $145, holding strong above the daily 200 exponential moving average (EMA) at a critical support level of $140. This key area has proven to be a solid foundation for the price, and if bulls want to ignite an upward rally, they must defend this support zone. For momentum to shift decisively upward, SOL needs to break past the daily 200 moving average (MA), which sits at $154. A close above the 200 MA would likely trigger a bullish rally, potentially pushing the price toward higher targets. However, failure to maintain this key support and close above these levels could result in extended sideways consolidation or, worse, a deeper correction. In such a scenario, the next demand zone would be around $110, a significant support level that could attract buyers if the market enters a bearish phase. Related Reading: SUI Ready To Test $2 Resistance – Bullish Pattern Suggests New ATH Soon For now, the $140 support level remains the line in the sand for Solana’s price action. Traders are closely monitoring whether SOL can break through key resistance levels and continue its ascent, or if a potential correction is on the horizon. Featured image from Dall-E, chart from TradingView

Solana’s market cap could reach 50% of Ether’s due to its superior transaction throughput, according to asset management giant VanEck.

Following the Solana 1,000% run-up in 2023 and its re-entry into the crypto top 10 by market cap, it has been pitched against Ethereum once again. This was further propelled by the fact that Solana saw its blockchain activity surpass Ethereum’s, and even bringing in more revenue at a time. However, one place where Ethereum […]