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Solana faced heightened volatility yesterday, dropping 7% following the Federal Reserve’s announcement of a 25 basis point rate cut and fewer projected cuts for 2024. Despite the sell-off, Solana’s price action remains resilient as it managed to hold above a critical support level, reinforcing confidence in its ability to weather macroeconomic shifts. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? While the market reacted to the Fed’s cautious tone, Solana’s on-chain metrics tell a more optimistic story. The number of daily transactions on the Solana network has surged, nearing 67 million, reflecting growing adoption and sustained network activity. This robust transaction volume highlights Solana’s position as a leading blockchain platform, with developers and users continuing to rely on its scalability and efficiency. Analysts suggest that holding above its key support level could position SOL for a strong rebound, particularly if broader market conditions stabilize. The increased on-chain activity adds to this bullish outlook, signaling that long-term fundamentals remain intact. Solana Holding Key Demand Solana demonstrates resilience in the face of market turbulence, holding above key demand levels around $210 following yesterday’s sell-off triggered by the Federal Reserve’s policy announcements. This critical support level reinforces bullish sentiment for the asset, with many analysts eyeing a breakout on the horizon. Top analyst Jelle recently provided a compelling technical analysis on X, noting that Solana successfully took out the lows, maintained its position above monthly and weekly support levels, and continued to trade within its falling wedge pattern. According to Jelle, this setup suggests a breakout is imminent, with Solana targeting new all-time highs soon. Supporting this optimistic outlook, on-chain metrics paint a promising picture for Solana’s network activity. Ali Martinez shared data showing the Solana network nearing 67 million daily transactions, underscoring strong adoption and user engagement. This heightened network activity highlights Solana’s utility and strengthens the foundation for sustained price growth. Related Reading: XRP Consolidation Could End Once It Clears $2.60 – Top Analyst Expects $4 Soon If Solana holds above the $210 level in the coming days, it could trigger a significant rally as bullish momentum builds. Traders and investors are closely watching the asset’s price action for signs of a decisive move, with the combination of strong technical and on-chain indicators pointing toward a potential surge to new highs. Price Action: Liquidity Resting Above Solana is trading at $210, a key level it has held for several days despite broader market volatility. This price point demonstrates solid demand, but holding this level alone won’t ignite the next rally. A decisive push above $240 is critical for Solana to regain bullish momentum. This move would signal renewed strength and pave the way for higher price targets. A crucial intermediate step lies at the $225 mark. If Solana can reclaim this level with conviction, it would likely confirm a bullish trend and set the stage for further upward momentum. This could attract additional buying interest as traders and investors interpret the move as a signal of strength. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? Failing to break above these resistance levels, however, may keep Solana range-bound and limit its ability to capitalize on the recent support it has established. As market conditions continue to evolve, Solana’s ability to push past these key thresholds will determine whether it transitions into a stronger upward trajectory or remains stuck in consolidation.  Featured image from Dall-E, chart from TradingView

Solana (SOL) finds itself at a critical juncture as it tests demand at a price level that previously acted as key resistance. Since late November, SOL’s price has been in a retrace, dampening the hype surrounding the cryptocurrency. The prolonged decline has left investors uncertain about the next move for Solana, with many questioning whether it can regain its bullish momentum. Related Reading: XRP Consolidation Could End Once It Clears $2.60 – Top Analyst Expects $4 Soon Top analyst Jelle recently shared a technical analysis on X, shedding light on Solana’s current setup. According to Jelle, Solana has formed a falling wedge pattern—a classic bullish formation—into what was once a critical resistance level. The price has confirmed this level as support, providing a potential foundation for a significant rally in the near term. If the support holds, it could reignite bullish sentiment and position Solana for another strong run. However, a failure to sustain this level may signal further downside, potentially eroding confidence in its long-term trajectory. As Solana navigates this pivotal moment, all eyes are on whether it can reclaim its former glory and capitalize on the momentum. Solana Finding Fuel To Take Off Solana has experienced a 23% retrace from its local high of $264, set on November 22. Despite this decline, the cryptocurrency is holding firm above the $210 level, a crucial support zone that has analysts optimistic about a potential rally to new all-time highs. The resilience shown by SOL at this level suggests that bullish momentum may be building as the price consolidates. Top analyst Jelle recently shared his insights on X, highlighting a bullish technical setup for Solana. According to Jelle, SOL has formed a falling wedge pattern, a structure often indicative of an upcoming breakout. Importantly, the wedge aligns with a key resistance level that has now been confirmed as support, strengthening the case for further upward movement. Jelle also points out that Solana has formed its first higher low during this retracement, a potential signal that the asset is poised to resume its bullish trend. He believes Solana could re-enter price discovery before Christmas, forecasting a target of $300 in the coming days. Related Reading: Ethereum Whales Load Up: Bullish Sign Or Bear Trap? However, risks remain, particularly if the consolidation phase continues for longer than expected. Should SOL fail to break out decisively, it could struggle to regain the upward momentum necessary to challenge new highs. For now, Solana’s ability to hold above $210 will be critical in determining its next move. Testing Reactive Demand Solana finds itself at a critical turning point, trading at $216 and holding firm above the $210 mark—a level that once acted as significant resistance. This key support level now plays a pivotal role in determining whether SOL can ignite a historic rally. The current price action reflects growing optimism among investors, with many anticipating that staying above $210 for just a few days could trigger a sharp recovery. Analysts suggest that if SOL maintains its foothold above this critical level, a swift move toward $250 would likely follow. Such a recovery would position Solana to regain its bullish momentum and potentially challenge its all-time high (ATH). While this scenario might seem ambitious, SOL has previously demonstrated its capacity for rapid upward moves during similar conditions. Related Reading: Bitcoin Breaks ATH Pushing Back Into Price Discovery – BTC To $130K? A strong confirmation of support at the $210 level could attract fresh buying interest, creating the foundation for the next leg of its rally. With momentum on the horizon, the coming days will be critical in determining whether Solana can make history and aim for unprecedented price levels. Featured image from Dall-E, chart from TradingView

The on-chain analytics firm Glassnode has revealed the reason why Solana (SOL) has recently been lagging behind Bitcoin (BTC) and Ethereum (ETH). Solana Realized Cap Growth Has Slowed Down Recently In a new post on X, Glassnode has discussed about how the recent performance of Solana has stacked up against the two largest coins in the sector. “Looking at price performance, SOL outpaced both ETH and BTC for most of Q4 2024,” notes the analytics firm. “However, since early December, ETH has taken the lead, outperforming the other two assets.” As it stands right now, Bitcoin is up around 18% over the past month, Ethereum 28%, and Solana 3%. Thus, SOL has clearly fallen off after being the market leader just earlier. Related Reading: Bitcoin Top Here? What Historical HODLer Selloff Pattern Says What could be behind this shift in the market? The answer to the question could lie in the capital flows that these cryptocurrencies have recently been observing. In order to estimate the capital flows for the assets, Glassnode has made use of the Realized Cap indicator. The “Realized Cap” refers to an on-chain capitalization model that calculates the total value of any digital asset by assuming that the ‘real’ value of any token in circulation is the price at which it was last transacted on the blockchain. Since the last transfer for any coin is likely to represent the last point at which it changed hands, the price at its time could be considered its cost basis. Thus, the Realized Cap is a sum of the cost basis of all coins in the circulating supply or, more simply, a measure of the total amount of capital that the investors as a whole have put into the cryptocurrency. In this view, changes in the Realized Cap essentially reflect the amount of capital that’s exiting out of or entering into the asset. Below is the chart for the 7-day change in the indicator shared by the analytics firm, which showcases these outflows/inflows happening for Solana and others. From the chart, it’s visible that the 7-day change in the Realized Cap was at notable positive levels between September and early December. Bitcoin and Ethereum also observed capital inflows in this period, but SOL was simply growing at a significantly faster pace. Related Reading: Bitcoin Miners Now In Selling Mode For A Year: Should You Be Concerned? This month, though, the sector has seen a flip as both Bitcoin and Ethereum have pulled ahead of Solana. The earlier higher capital inflows were likely the drivers behind SOL’s outperformance, so with them gone, it makes sense that the top two assets would take over. SOL Price Whereas Bitcoin and Ethereum have enjoyed a surge over the last few days, Solana has been moving in a sideways trajectory as its price is still trading around $221. Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Solana (SOL) has been holding steady above a crucial demand level near $210, a key area that could ignite a massive bull run. After reaching an all-time high (ATH) on November 22, Solana has experienced a 23% retracement, testing investor confidence. However, analysts remain optimistic, with many expecting a significant upward move in the coming weeks. Related Reading: Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100 Renowned analyst Jelle recently shared a technical analysis highlighting Solana’s strong potential. According to Jelle, the monthly chart for SOL is primed for an “absolute monster run,” indicating that the current consolidation phase may be laying the groundwork for a powerful breakout. This view aligns with the broader sentiment that Solana’s resilience above $210 could act as a springboard for the next phase of its rally. As one of the leading altcoins in the crypto market, Solana has attracted attention for its robust performance and potential to lead the next leg of the bull market. With the price now consolidating after a sharp pullback, all eyes are on SOL’s ability to maintain its critical support and reclaim momentum. Whether Solana can deliver on its bullish promise will be a key focus for traders and investors alike in the coming weeks. Solana Holds Key Demand  Solana is currently trading above a critical level for this cycle—the $210 mark. This price point, which previously acted as a significant resistance, has now flipped into a vital support level, setting the stage for Solana’s next potential rally. The importance of this level cannot be overstated, as it represents a key area where buyers are stepping in to defend SOL’s bullish momentum. Renowned analyst Jelle recently shared a compelling technical analysis on X, emphasizing Solana’s strong outlook. According to Jelle, Solana’s monthly chart is primed for what he described as an “absolute monster run.” His analysis highlights how SOL’s price is now testing its 2021 all-time high (ATH) as support, a critical juncture that could determine its trajectory in the weeks to come. Jelle’s simple yet powerful chart indicates that if Solana manages to push decisively above the $210 level, it will confirm the strength of this support and potentially trigger a massive bull run. This rally could result in impressive gains for SOL, positioning it as a standout performer in the crypto market. Related Reading: Bitcoin Breaks ATH Pushing Back Into Price Discovery – BTC To $130K? For now, all eyes are on Solana’s ability to sustain its momentum and break higher. As it consolidates above this essential level, traders and investors are closely monitoring its next moves, anticipating the possibility of a historic price surge. Price Action Suggests A Big Move Soon Solana is trading at $221, maintaining its strength above the critical $210 support level. This resilience has bolstered confidence among investors, as SOL’s price action aligns bullishly across all time frames. Solana is gearing up for a major rally, but it must first overcome the $245 resistance level to confirm the uptrend. Market dynamics indicate that SOL is in a prime position for upward momentum. Unlike other assets that may show signs of hesitation or potential consolidation, Solana exhibits a well-defined price structure that strongly favors a breakout. The lack of bearish signals further solidifies this outlook, as there is little indication of an imminent correction or prolonged sideways trading. Related Reading: ONDO Exchange Inflows Grow – Volatility Ahead? If SOL successfully breaches the $245 resistance with strength, it could trigger a wave of buying pressure, propelling the price to new heights. This setup has many traders eyeing the next potential levels for Solana, with the broader market sentiment favoring continued gains. Featured image from Dall-E, chart from TradingView

Solana is navigating a critical juncture as its price edges toward the $209 mark under increasing bearish pressure. Recent market dynamics have tilted in favor of the bears, challenging SOL’s previous upward momentum. The $209 level now emerges as a crucial line of defense, with the bulls required to act swiftly to prevent deeper losses and regain control of the market narrative. This heightened selling pressure highlights growing uncertainty, making the stakes even higher for both sides of the market. If the bulls manage to hold the line, it may signal strength and set the stage for a potential rebound. However, failure to defend this level could pave the way for further downside, reinforcing the bearish outlook. Solana Nears The Critical $209 Support Level Recent price movements indicate that Solana is under significant downside pressure as it approaches the crucial $209 support level. This decline comes despite the cryptocurrency remaining above the 100-day Simple Moving Average (SMA), a key indicator often associated with broader bullish trends. The negative sentiment has overshadowed the SMA’s support, signaling possible vulnerability in SOL’s price structure. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon While the 100-day SMA typically acts as a safety net for upward momentum, the increased selling pressure suggests that bears are testing the strength of this support. If Solana fails to hold above the $209 mark, it might invalidate the SMA’s bullish influence, paving the way for deeper losses. However, a rebound at this level could reaffirm the SMA’s role in sustaining the positive outlook, setting the stage for potential recovery. Furthermore, the 1-day Relative Strength Index (RSI) is trending below the critical 50% threshold, signaling a shift in market sentiment toward bearish dominance. The RSI, a widely used momentum indicator, measures the speed and magnitude of price movements. When it dips below 50%, it typically indicates weakening buying pressure. This downward trend in the RSI reflects the increased bearish influence on Solana’s price, aligning with its recent decline toward the $209 support level. Sustaining its position below 50% suggests that bulls may be losing their grip, making it imperative for them to regain control soon to prevent further losses. Should the RSI continue to decline, it could reinforce the negative outlook, potentially leading to a deeper price correction. Potential Scenarios: Rebound Or Further Decline? Solana’s price, currently hovering near the $209 support level, sets up two potential scenarios: a bullish rebound or an extended decline. If the price successfully rebounds from this level, it may indicate strength and resilience, possibly pushing Solana toward higher resistance levels, such as $240 and $260, while reigniting its uptrend. Related Reading: Solana Price On The Rise: Key Resistance At $235 Could Spark Major Breakout However, failing to hold above $209 could intensify selling pressure, potentially driving the price lower toward $194 as bearish dominance takes hold. A break below this level would heighten the risk of more drops, with Solana testing the 100-day SMA as the next key support. Featured image from iStock, chart from Tradingview.com

Solana remained stable above the $215 level. SOL price is now recovering losses and facing hurdles near the $228 and $332 levels. SOL price started a fresh increase after it tested the $215 zone against the US Dollar. The price is now trading below $225 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $228 zone. Solana Price Eyes Upside Break Solana price formed a support base and started a fresh increase from the $215 level but lagged momentum like Bitcoin and Ethereum. There was a decent increase above the $218 and $220 resistance levels. There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair. The pair climbed above $225 and tested the 50% Fib retracement level of the downward move from the $234 swing high to the $215 low. However, the price is now facing many hurdles near $225. Solana is now trading below $225 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $225 level. The next major resistance is near the $228 level or the 61.8% Fib retracement level of the downward move from the $234 swing high to the $215 low. The main resistance could be $230. A successful close above the $230 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level. Another Decline in SOL? If SOL fails to rise above the $228 resistance, it could start another decline. Initial support on the downside is near the $220 level. The first major support is near the $215 level. A break below the $215 level might send the price toward the $205 zone. If there is a close below the $205 support, the price could decline toward the $200 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $220 and $215. Major Resistance Levels – $228 and $230.

Solana (SOL) has been in the news over the last few weeks, albeit for different reasons. The popular altcoin was one of the many benefactors of a Donald Trump presidential victory, rising by 67.69% in three weeks after November 5 to reach a new-all time of $263.  However, this price surge has been followed by a gradual recorrection of 15.13% in the last two weeks. Albeit, recent data on investors’ behavior shows significant market optimism on the fifth-largest cryptocurrency. Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon Solana ‘New’ Investors Buoyant On Bullish Future In an X post on December 13, blockchain analytics company Glassnode shared an insightful report on Solana investors’ activity in recent weeks. According to Glassnode, Solana investors who entered the market 1-2 years ago have now offloaded significant portions of their holdings. The analytics team explains that these investors likely bought Solana during its 2021 bull run and have now taken profits during the price rally in November, reducing their market share from 48% in June to below 5% currently. While a drop in long-term holdings can sometimes signal doubts about an asset’s future potential, Glassnode views these recent sales as purely transactional with most investors looking to sell ahead of the next bull run now exiting the market. Importantly, this selling pressure has been absorbed to a significant extent by new Solana investors of the last 6-12 months who increased their market holdings to 24% during Solana’s latest price surge. Such massive investment at rising price levels indicates confidence among new holders in Solana’s long-term profitability despite its current price dip. Related Reading: Solana Set For Explosive Growth: Expert Predicts 1650% Price Increase Based On This Pattern VanEck Predicts SOL To Reach $500 In Q1 2025 In other news, prominent asset manager VanEck has dropped a bullish prediction for Solana ahead of 2025.  In their latest insight on digital assets, Head of Digital Assets Research Matthew Sigel, and Senior Investment Analyst Patrick Bush have jointly forecasted the general crypto market to maintain its bullish form going into the new year.  On that note, the digital assets will attain their first market peak in Q1 2025 with Bitcoin attaining a price of $180,000. During this rally,  Solana is projected to trade at $500, indicating a potential 124.21% gain on the asset’s current price.  However, VanEck analysts warn that this surge will likely be followed by Bitcoin experiencing a 30% price recorrection while altcoins including Solana record declines of about 60% as the market enters consolidation in summer. At the time of writing, Solana continues to trade at $227 reflecting a 0.34% gain in the past day. Meanwhile, the asset’s trading volume is down by 14.28% and valued at $4.12 billion. Featured image from CoinJournal, chart from Tradingview

Leading cryptocurrency asset Solana (SOL) is demonstrating notable renewed price momentum as it aims to challenge several key resistance points. These crucial levels have proven vital for its next major rally to higher levels, possibly to a new all-time high in the upcoming weeks. Price Breakout To Propel Solana’s Value Amid rising market optimism, Negentropic, […]

Over the past week, the Solana price has reflected broader market trends, experiencing a slight decline of 1.3% in the last 24 hours. This decrease has led SOL to retest a crucial support level at $226. Despite this recent dip, experts believe that a successful breach of the $235 resistance could signal a continuation of the uptrend observed over the past six weeks. Is The Solana Price About To Hit New All-Time Highs? Market analysts report that Solana has shown resilience, rebounding towards the $230 mark after briefly hitting the $200 zone. If SOL can maintain momentum and surpass the $235 threshold, it may break the current price compression, potentially targeting a previous high of $264 in the near term.  The co-founders of the market intelligence platform Glassnode, Yan Happel and Jan Allemann, noted that Solana’s daily Relative Strength Index (RSI) remains neutral, indicating that there is room for upward movement without being overbought. In this context, they also suggest that if SOL gains traction, investors should monitor other tokens such as Jupiter (JUP) and Dogwifhat (WIF) for potential upward momentum. Related Reading: Shiba Inu Bulls Aim Higher As SHIB Sights $0.00002960 For A Fresh Rally Despite trading at $226—13.5% below its all-time high of $263 achieved on November 23—The Solana price action is closely tied to broader market dynamics, particularly the anticipated regulatory framework under the incoming Trump administration.  Experts believe that Trump’s pro-crypto stance could enhance the likelihood of approving spot Solana exchange-traded funds (ETFs) that have been filed by various asset managers earlier this year.  Such approvals could pave the way for increased institutional adoption, a scenario that could significantly impact the Solana price and act as a catalyst on its path for new highs in the coming months. Comparative trends in Bitcoin suggest that similar institutional actions could lead to substantial price gains; for example, Bitcoin reached a record peak above $73,000 just two months after its ETF approval in January of this year. Solana Surpasses Ethereum As Top Ecosystem For New Developers A recent report by Electric Capital highlights Solana’s growth as the leading ecosystem for new developers in 2024. This marks a significant achievement, as it is the first time since 2016 that any ecosystem has surpassed Ethereum in attracting new developers.  In 2024 alone, Solana welcomed 7,625 new developers. However, Solana not only outpaced Ethereum but also emerged as the fastest-growing large ecosystem, with an impressive 83% year-over-year growth in monthly active developers.  Related Reading: Dogecoin Price On Its Way To $1: Why A Retest Of $0.48 Is More Important Than Anything The platform’s appeal has been particularly strong in Asia, with India leading as the top country for new developers, followed closely by the US, UK, Canada, and China.  Solana’s focus on low-fee use cases has also positioned the network as a leader in decentralized exchanges (DEX) and non-fungible token (NFT) transactions, accounting for 81% and 64% of respective transactions across all chains. Featured image from DALL-E, chart from TradingView.com

Solana (SOL) has faced a 23% retrace after hitting new all-time highs at $264, testing the resilience of bullish momentum. Despite this pullback, SOL’s price structure remains strong, with the token holding firmly above a critical demand zone. This consolidation phase indicates the market is gearing up for another potential breakout as bullish sentiment persists. Related Reading: Bitcoin Finds Support At $94.5K As STH Realized Prize Signals Strength Renowned crypto analyst and investor Jelle recently shared a technical analysis on X, expressing optimism about Solana’s future price trajectory. According to Jelle, the retrace is a healthy correction that allows SOL to build the strength needed for another significant rally. He predicts that Solana will reach new all-time highs before Christmas, setting the stage for an exciting close to the year. With Solana maintaining its position above key levels and investor interest remaining robust, all eyes are on the $264 mark as bulls prepare to push the token into price discovery once again. The coming weeks will be pivotal, with the potential for SOL to reclaim its momentum and deliver significant gains. If the bullish predictions hold true, Solana could solidify its position as one of the standout performers in the crypto market this cycle. Solana Price Action Signals Strength Solana (SOL) continues to show bullish momentum, holding strong above $210, a critical support level that previously acted as resistance. This price behavior signals a healthy retrace, allowing the market to reset before another potential move higher. Solana’s ability to maintain this level reinforces the bullish narrative, suggesting that it’s preparing for another upward push. Top crypto analyst Jelle recently shared his insights on X, expressing confidence in Solana’s price trajectory. Jelle’s technical analysis predicts that SOL will reach new heights before Christmas, highlighting a price target of $300 in the near term. He emphasizes that the current consolidation phase is a positive sign, as it allows for accumulation and builds the momentum necessary for a breakout. However, despite the optimism, the possibility of a prolonged consolidation phase looms if SOL fails to break its all-time high (ATH). This scenario could lead to a temporary stagnation in price action, with SOL ranging sideways as traders await a clearer market direction. Such a consolidation phase would not necessarily be bearish but could delay the anticipated rally. Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 For Solana to meet Jelle’s $300 target, bulls must reclaim and hold levels above the ATH, signaling strength and renewed buyer interest. If successful, Solana is poised to enter price discovery once again, securing its position as a top-performing crypto asset in the current market cycle. SOL Testing Liquidity Levels  Solana (SOL) is currently trading at $232, showing resilience after successfully holding key demand levels at $210. This critical support has proven vital in maintaining bullish momentum, allowing the price to recover and consolidate above $222. The ability to stay above this mark has strengthened investor confidence, with the focus now shifting to higher targets. The next key resistance for SOL is $246. Breaking above this level would not only signify a bullish breakout but also position SOL to challenge and surpass its all-time high (ATH) of $264. A confirmed breakout above $246 would signal renewed momentum, potentially driving Solana into uncharted territory and reigniting market excitement. Related Reading: PEPE Whales Increased Their Holdings By $1.4 Billion Yesterday – Details However, the bullish scenario depends on SOL’s ability to maintain its upward trajectory. If the price struggles to break above the $246 level in the coming weeks, it risks losing momentum. This could lead to a broader correction, with traders eyeing the $210 demand zone once again as a critical area to watch. Featured image from Dall-E, chart from TradingView

The Solana price is currently in a massive supply zone after recent declines in the past 48 hours that cut across the entire crypto landscape. Notably, technical analysis suggests that the Solana price is on the way to a massive breakout that would see both its price and market cap surge by over 1,700% in the near future. This analysis is highlighted by a cup and handle formation that has been in play for over two years. According to Solana price analysis shared on social media platform X by crypto analyst Ali Martinez, a bullish cup and handle pattern on Solana’s chart is pointing to a rally to an unprecedented $4,000. Cup And Handle Pattern Signals Bullish Momentum The cup and handle pattern is a classic technical analysis formation often associated with a strong bullish breakout. This pattern, characterized by a rounded bottom (the cup) followed by a smaller dip (the handle), is considered one of the more reliable indicators in technical trading. Related Reading: Weekly Bull Flag Appears On XRP Price Chart, Why A Double-Digit Is Still Feasible In the case of Solana, the development of this pattern has been in action since 2022 through different market cycles. The cup phase began to take shape during the start of the 2022 bear market and extended throughout the entire persistent downtrend. This period also covers the consolidation phase in early 2023 and the rally that took place in the second half of the year. Together, these movements formed the rounded bottom of the cup, with the latter rally highlighted by a break above five successive Fib extension levels. Interestingly, Martinez’s analysis indicates that Solana is currently in the handle phase for the past eight or so months. As it stands, recent price action has seen the Solana price peeking above the neckline of the cup and handle pattern, culminating with the recent all-time high of $263 on November 23. However, the Solana price has been highlighted by a correction phase since reaching this all-time high, with a low of $205 in the past 24 hours. Implications For Solana Price According to technical analysis, the recent all-time high on November 23 coincides with the 1.00 Fibonacci extension level when drawn from the 2022 bear market low of $8, which serves as the lowest point in the cup and handle pattern.  Related Reading: This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target However, the correction that ensued since the all-time high has seen the Solana price retesting the breakout level of neckline for the cup and handle pattern. Such a retest is a common occurrence in cryptocurrency markets, especially after breaking through long-standing resistance levels. With this in mind, Martinez predicted a bounce at the neckline and a resumption of the uptrend.  Martinez’s prediction envisions a break above the next four Fib extension levels up until 1.786 Fib extension. If this trajectory were to play out this way, it would drive the Solana price above multiple psychological thresholds, ultimately surpassing $4,000 at the 1.786 extension level., representing a 1,700% increase from the current price of Solana. At the time of writing, Solana is trading at $219. Featured image created with Dall.E, chart from Tradingview.com

Solana has faced a sharp 23% correction since reaching new all-time highs nearly three weeks ago. This pullback, though significant, reflects broader market conditions as Bitcoin and altcoins enter a phase of indecision. The market is currently searching for support and consolidating below critical levels, with investors closely monitoring whether this phase will lead to recovery or further downside. Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 Top analyst Jelle recently shared a technical analysis on X, suggesting that Solana holds promising upside potential. According to Jelle, if Solana can reclaim the $222 level in the coming days, it will likely trigger a quick and substantial surge. This key price point is a critical threshold that could shift sentiment and reignite bullish momentum for the popular altcoin. While the broader market remains uncertain, Solana’s ability to recover and build momentum above $222 could set the stage for a decisive breakout. However, failure to reclaim this level could prolong its consolidation or lead to further retracement. Solana remains a closely watched asset, with retail and institutional investors waiting for clearer signals on its next direction. Will it recover its bullish trajectory or face continued selling pressure? The coming days are likely to provide answers. Solana Finding Support In Previous Resistance  Solana has retraced to test crucial liquidity levels between $200 and $210, an area that previously acted as resistance but is now being evaluated as support. This zone holds significant importance for SOL’s price action, as it could determine whether the asset continues its bullish momentum or faces further consolidation. Related Reading: Dogecoin Pressing Range Highs – Can Bulls Push DOGE To ATH? Solana’s price action is in a consolidation phase with no definitive direction, but the signs of a potential breakout are becoming clearer. The asset appears poised to make a decisive move, particularly if it reclaims key levels in the coming sessions. Analyst Jelle recently shared insights on X, emphasizing the critical importance of the $222 level. Jelle noted, “Reclaim $222, and SOL quickly steps back into the spotlight. Deviate those lows and send it higher.” This suggests that if Solana successfully reclaims this key level, it could re-enter price discovery, triggering a massive breakout and attracting renewed attention from retail and institutional investors. Should Solana achieve this, it may set the stage for a rally that mirrors its earlier impressive performance, reaffirming its position as one of the top-performing altcoins in the market. Conversely, failure to hold the $200-$210 support range could lead to further consolidation or a deeper correction. Solana remains a focal point in the market, with investors eagerly awaiting its next move. SOL Testing Crucial Demand Solana (SOL) is trading at $220, showing resilience after tagging the $203 level twice in the past week. This area has proven to be a strong support zone, as buyers stepped in to prevent further declines. The price now hovers near a critical juncture, with market participants closely watching for the next major move. If SOL can hold above the $203 support and reclaim the $238 resistance area, a quick recovery could follow, potentially paving the way for a renewed bullish trend. Reclaiming $238 would signal strength and attract fresh buying interest, pushing SOL back into higher trading ranges. However, this recovery may take time as the broader crypto market consolidates in indecision. Bitcoin and other major altcoins also move sideways, adding to the uncertainty around Solana’s immediate price action. Until a breakout or breakdown occurs, SOL is likely to remain range-bound. Related Reading: PEPE Whales Increased Their Holdings By $1.4 Billion Yesterday – Details Traders and investors should monitor these key levels closely. A sustained break above $238 could reignite bullish momentum, while failure to hold the $203 support may lead to a deeper correction. For now, patience is required as Solana navigates this critical phase in its price action. Featured image from Dall-E, chart from TradingView

Solana (SOL) has seen its rally slow down in the last few days, dropping 23% from its new all-time high (ATH) and over 8% in the past day. Some investors worry about the Altcoin’s short-term performance as the crypto market pulls back. Related Reading: Bitcoin Sees First Close Above $100,000, But Is A Big Correction Coming? Solana Drops To Lowest Level In A Month Solana has been one of the leading cryptocurrencies this cycle, outperforming most of the market and stealing the headlines. Unlike most altcoins, the cryptocurrency outperformed during the Q2 and Q3 retraces, holding above pre-bull run levels. As Q4 started, Solana continued to hover within the $110-$180 price range, breaking above this range after the market’s post-election pump. SOL’s momentum propelled the token past its yearly high and successfully reclaimed the $200 barrier. The token continued to climb higher until its new ATH of $263 on November 23. Since then, Solana hovered between the $245-$220 price range, fueling investors’ optimism about the altcoin’s next “price discovery” move. Nonetheless, SOL’s price has taken a blow in the past day alongside Bitcoin and the rest of the crypto market. Solana saw an 8.7% correction in the last 24 hours, falling to the $210 support level before dropping below it. The cryptocurrency is now retesting the key $200-$210 zone as support for the first time since breaking past it, falling below the $205 level on Tuesday morning. Crypto analyst Altcoin Sherpa shared a possible bearish outlook for SOL’s short-term performance based on the ongoing price retest. Per the post, “SOL weakness has been pretty obvious, and it’s being reflected in the sol shitcoin price action as well.” The analysts explained that the current price action looks seemingly underwhelming, suggesting that holding the $200-$210 region is crucial. Failing to hold this zone would likely send the price to the pre-election resistance level of $180, which has not been tested as support since breaking above it over a month ago. SOL Eyes Higher Targets Similarly, Crypto Jack forecasted a potential fall to the $180-$160 range if SOL fails its retest of the $200 mark as support. However, he considers the over 10% drop a “buy the dip” opportunity for investors. According to his potential play for Solana, the cryptocurrency would bounce to its ATH levels and attempt to break past them. Other market watchers pointed out that SOL is currently retesting the weekly and monthly timeframe resistance as support, which could see Solana go higher “as long as it holds.” Crypto analyst Jelle reaffirmed his $600 target for the cryptocurrency, noting that it “performed incredibly during the first year of the cycle” and will “be a winner again in the coming months.” Related Reading: Cardano Follows 2020 Bullish Pattern – Top Analyst Plans To Take Profits Between $4 And $6 Meanwhile, Bitwise’s latest report predicted that SOL could rally over 200% in 2025. The asset manager’s CIO, Matt Hougan, and Head of Research, Ryan Rasmussen, consider that the altcoin’s momentum “is just beginning to build,” predicting it will hit $750 next year. At the time of writing, Solana is trading at $204, an 8.5% and 3.1% decline in the daily and monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Solana started a downside correction below the $230 zone. SOL price is now recovering losses and facing hurdles near the $220 level. SOL price started a fresh increase after it tested the $204 zone against the US Dollar. The price is now trading below $230 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $220 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $220 zone. Solana Price Eyes Upside Break Solana price formed a support base and started a fresh increase from the $204 level like Bitcoin and Ethereum. There was a decent increase above the $210 and $212 resistance levels. There was a move above the 23.6% Fib retracement level of the downward move from the $243 swing high to the $203 low. However, the price is now facing many hurdles near $220. Solana is now trading above $218 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $220 level. There is also a key bearish trend line forming with resistance at $220 on the hourly chart of the SOL/USD pair. The next major resistance is near the $224 level or the 50% Fib retracement level of the downward move from the $243 swing high to the $203 low. The main resistance could be $228. A successful close above the $228 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level. Another Decline in SOL? If SOL fails to rise above the $220 resistance, it could start another decline. Initial support on the downside is near the $212 level. The first major support is near the $205 level. A break below the $205 level might send the price toward the $200 zone. If there is a close below the $200 support, the price could decline toward the $188 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $212 and $205. Major Resistance Levels – $220 and $228.

Solana (SOL) is holding firm at a critical $209 support level, as the recent bearish surge has failed to break below this level. After recent price fluctuations, SOL’s ability to hold steady at this key zone has sparked speculation that a rebound might be on the horizon. With market dynamics shifting and technical indicators offering mixed signals, the question remains: will the bulls take charge and propel SOL upward, or will further decline occur?  Bearish Pressure Eases: Can The Solana Bulls Step In? Solana has experienced a notable reaction at the $209 support level, a zone that has proven critical in maintaining its bullish structure. After testing this key level, the price has shown early signs of a potential rebound, suggesting that bearish pressure is easing and buyers may be regaining control. Related Reading: Solana (SOL) Back on Track: Is The Uptrend Here to Stay? Furthermore, the reaction at $209 has captured the attention of market participants, with many anticipating a rally toward the next resistance level at $240. In order to sustain this upward movement, SOL must break through nearby hurdles, such as the $240 and $260 resistance zones. A successful push past these levels could pave the way for a broader uptrend. Conversely, if the rebound falters, a retest of the $209 support could occur, increasing the risk of a deeper correction. Thus far, the initial reaction and signs of recovery offer hope that Solana may be positioning itself for another leg up in the coming sessions. Technical Indicators Signal A Potential Turnaround The 4-hour Relative Strength Index (RSI) has dipped into the oversold zone, a level often associated with heightened selling pressure and the potential exhaustion of the bearish trend. Currently, the RSI is attempting to rise out of this zone, suggesting a possible shift in momentum as buying interest begins to reemerge. A move out of the oversold territory is typically viewed as a bullish signal, indicating that sellers may be losing dominance and paving the way for buyers to regain control. If the RSI successfully climbs above the oversold threshold, it may trigger a larger recovery phase, particularly accompanied by increasing volume and positive price action. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? Finally, Solana’s price continues to trade above the 1-day 100-day Simple Moving Average (SMA), a critical indicator that underscores its broader bullish trajectory despite recent market fluctuations. Maintaining a position above this moving average suggests that optimistic sentiment remains intact, even amid short-term corrections. This level serves as a key threshold where buyers are likely to step in, reinforcing the price and preventing more declines. Historically, staying above the 100-day SMA has often preceded significant upward moves, making it a closely watched indicator by market participants. Featured image from Adobe Stock, chart from Tradingview.com

Solana (SOL) has captured significant attention in the crypto market after a series of volatile days that followed its breakout to a new all-time high on November 22. The asset, known for its speed and scalability, is now testing critical demand levels around $220, a zone that could determine its next move. Related Reading: PEPE Whales Increased Their Holdings By $1.4 Billion Yesterday – Details Renowned investor and trader Carl Runefelt shared a detailed technical analysis on X, highlighting the formation of a massive symmetrical triangle that Solana has been tracking since early November. According to Runefelt, this pattern indicates a period of consolidation before a potentially explosive move. If Solana breaks out of this formation, Runefelt projects a price target of $295, signaling a significant upside for the altcoin. With Solana’s ability to sustain high demand and the broader crypto market showing bullish sentiment, all eyes are on whether SOL can capitalize on this momentum. The coming days will be pivotal as the price action unfolds, setting the stage for either a continuation of its rally or a deeper correction. As SOL traders watch closely, the market anticipates a decisive move that could redefine Solana’s trajectory for the rest of the year. Solana Finding Fuel To Rise Solana (SOL) has seen a pullback after reaching an all-time high of $264 on November 22, as the broader crypto market experienced increased volatility. While some investors view this retrace cautiously, many analysts interpret it as a healthy demand retest—a necessary pause to build momentum for another leg up. Currently, Solana is consolidating around key support levels, positioning itself for a potential breakout. Investor and trader Carl Runefelt shared insights on X, highlighting a bullish pattern forming on Solana’s chart. According to Runefelt, this structure, which has been developing over the past few weeks, signals that SOL could be preparing for a significant breakout. He emphasizes that if Solana manages to break above this pattern with sustained buying pressure, it could easily surpass its previous highs and push into uncharted territory. Runefelt’s analysis aligns with the broader market sentiment that views Solana as one of the most promising blockchain ecosystems. Its strong fundamentals and increasing adoption and institutional interest create a favorable backdrop for continued growth. Related Reading: Dogecoin Pressing Range Highs – Can Bulls Push DOGE To ATH? As Solana consolidates, the next few days will be critical. A break above its current pattern could trigger a massive rally, potentially driving the price significantly higher. Conversely, failure to hold key support levels could lead to a deeper correction. Investors are watching closely for now, waiting for a decisive move to determine Solana’s trajectory in the weeks ahead. Price Testing Critical Demand Solana (SOL) is currently trading at $217, maintaining a crucial demand level that has become a focal point for both bulls and bears. This zone has acted as a strong support, and its integrity is critical to sustaining bullish momentum. However, if SOL were to lose this level, it could spark panic among investors, many of whom are banking on continued growth in the coming months. The $210 mark serves as a psychological threshold for market participants. Holding above this level would reaffirm Solana’s strength and suggest that the current retrace is a healthy consolidation phase. On the other hand, breaching this support could shift sentiment, leading to increased selling pressure and a potential dip to lower levels. Related Reading: XRP Price Forecast – Analyst Sets $4 Target After Potential Retrace For a bullish continuation, SOL must hold above $210 and reclaim $225 in the coming weeks. Such a move would signal renewed buying interest and position Solana for a potential breakout. If this scenario unfolds, analysts anticipate a massive rally that could push SOL toward new highs, reaffirming its status as a top-performing crypto asset. Investors are closely watching these key levels, as Solana’s price action in the coming weeks will likely set the tone for its mid-term trajectory. Featured image from Dall-E, chart from TradingView

With massive gains over the past few days, Solana has shown true potential in this ongoing bull cycle, making SOL one of the best-performing crypto assets in the market. As a result of the upswing, there is growing confidence within the community about the likelihood of SOL surging to higher resistance levels or a new […]

Solana started a fresh increase from the $215 zone. SOL price is rising and might aim for a move above the $240 and $250 resistance levels. SOL price started a fresh increase after it settled above the $222 level against the US Dollar. The price is now trading above $230 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $232 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $240 zone. Solana Price Eyes Fresh Surge Solana price formed a support base and started a fresh increase above the $220 level like Bitcoin and Ethereum. There was a decent increase above the $225 and $230 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $246 swing high to the $215 low. Besides, there was a break above a key bearish trend line with resistance at $232 on the hourly chart of the SOL/USD pair. Solana is now trading above $235 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $240 level or the 76.4% Fib retracement level of the downward move from the $246 swing high to the $215 low. The next major resistance is near the $246 level. The main resistance could be $250. A successful close above the $250 resistance level could set the pace for another steady increase. The next key resistance is $265. Any more gains might send the price toward the $280 level. Another Decline in SOL? If SOL fails to rise above the $240 resistance, it could start another decline. Initial support on the downside is near the $230 level or the 100-hourly simple moving average. The first major support is near the $220 level. A break below the $220 level might send the price toward the $215 zone. If there is a close below the $215 support, the price could decline toward the $200 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $230 and $220. Major Resistance Levels – $240 and $250.

Solana (SOL) has been one of the leading cryptocurrencies throughout this bull run, seeing a 66.8% jump in the last three months to its latest all-time high (ATH) and flipping other rivals. Despite its remarkable rally, SOL has recently lost the spotlight to Altcoins like XRP, risking a major correction in the coming days. Related Reading: Cardano Could Be Heading For A 20% Correction – Technical Data Signals Bearish Price Structure Solana To Retest $200? Solana has outperformed most of the market during this cycle, leaping over 231% in the last year. The ecosystem has been the talk of the town, with Solana-based memecoins leading the market’s narrative and SOL’s DeFi activity outpacing Ethereum’s. Less than a month ago, the cryptocurrency’s bullish rally saw the altcoin surpass Binance Coin (BNB) as the fourth-largest token by market capitalization. SOL saw its price rise near the $200 zone, propelling its market capitalization to $88 billion on November 6. Since then, its market cap has surged nearly 20% to $105 billion, but SOL’s momentum has begun to slow down as other cryptocurrencies pick up steam. On Sunday, XRP flipped Solana and Tether (USDT) to become the third-largest crypto by market cap, sending SOL to the fifth position. XRP’s milestone made some investors and market watchers worry about SOL’s future performance since the cryptocurrency has experienced a 14% retrace from its latest ATH of $263 nine, recorded nine days ago. Crypto analyst Income Sharks noted that Solana displays a bearish structure on its lower timeframe chart. According to the post, the altcoin has been forming a Head and Shoulders (H&S) pattern in the past month after a three-week diagonal trendline break, suggesting a trend reversal for Solana. On Sunday night, SOL dropped below the $230 mark, hitting its lowest price since November 15 and breaking below the pattern’s neckline. This could potentially send Solana to retrace around 10% and test its previous support zone between the $200-$210 range. Similarly, crypto analyst CRG noted that a retest of these levels would be possible before bouncing to new highs. SOL Sees Historic November Close Despite the recent retrace, several crypto watchers consider SOL’s rally is far from over, highlighting the token’s strength throughout the cycle and its achievements. Crypto Jelle pointed out that Solana still targets the $400-$600 in its price discovery mode after it broke out of an 8-month bullish pennant in November and “locked in a monthly breakout too.” Likewise, Rekt Capital noted that the cryptocurrency recorded a historic close this November, as it saw its “Highest candle-bodied Monthly Close of all-time.” Other analysts also concurred, hinting that investors should remain optimistic about the $400 target as momentum remains strong. Related Reading: Fantom Price Breakout: Analyst Shares Anatomy Of FTM’s 18,000% Move To $150 By 2025 Moreover, Solana displays a multi-year Cup & Handle pattern, which has a potential 100% rally to the $400 target after last month’s breakout from the handle’s trendline. SOL records a 5.3% and 7.2% decline in the daily and weekly timeframes but shows a 36.3% surge in the last month. As of this writing, Solana is trading at $224, with a 97% increase in its daily trading volume. Featured Image from Unsplash.com, Chart from TradingView.com

Crypto sleuth ZachXBT has accused a former professional gamer and cybersecurity analyst of helping steal $3.5 million from numerous memecoins scams. The on-chain detective’s investigation unveiled a connection between the Australian man and nine crypto hacks. Related Reading: US Judge Halts Arkansas Crackdown On Crypto Mining Firm Over Foreign Ownership Case Former Pro Gamer Turned […]

Solana started a fresh increase from the $220 zone. SOL price is rising and aiming for a sustained upward move above the $250 resistance. SOL price started a fresh increase after it settled above the $225 level against the US Dollar. The price is now trading above $240 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $240 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $250 zone. Solana Price Eyes Sustained Increase Solana price formed a support base and started a fresh increase above the $225 level like Bitcoin and Ethereum. There was a decent increase above the $230 and $232 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $256 swing high to the $221 low. Besides, there was a break above a key bearish trend line with resistance at $240 on the hourly chart of the SOL/USD pair. Solana is now trading above $240 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $244 level or the 61.8% Fib retracement level of the downward move from the $256 swing high to the $221 low. The next major resistance is near the $248 level. The main resistance could be $250. A successful close above the $250 resistance level could set the pace for another steady increase. The next key resistance is $265. Any more gains might send the price toward the $278 level. Are Dips Supported in SOL? If SOL fails to rise above the $248 resistance, it could start a downside correction. Initial support on the downside is near the $240 level or the 100-hourly simple moving average. The first major support is near the $232 level. A break below the $232 level might send the price toward the $230 zone. If there is a close below the $230 support, the price could decline toward the $220 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $240 and $232. Major Resistance Levels – $248 and $250.

A new Solana-based memecoin has stolen the crypto market’s spotlight after surging over 80% in seven days to a market capitalization above the $600 million mark. After its remarkable performance, the latest internet sensation continues to grow in popularity, recently scoring two major exchange listings. Related Reading: Polygon: Analyst Sets ‘Wild’ Price Target Amid POL’s 38.2% Weekly Surge Just A Chill Rise To $0.65 This cycle’s memecoin mania has seen the rise and fall of many tokens in the last few months, including the Celebrity token frenzy and the recent Pump.fun Livestream saga, sparking a discussion on whether they benefit the market. Despite the criticism, new tokens continue to rise, with some leaping into massive highs in a matter of days. The latest memecoin sensation, just a chill guy (CHILLGUY), has ignited a craze that sent the token to a massive 80% weekly rally. The cryptocurrency is based on a viral TikTok meme of a smirking dog in a laid-back pose dressed in casual clothing. The original drawing was created by Philip Banks in 2023 and has been slowly gaining popularity on social media platforms. The meme also became viral on X and Instagram, with several reimaginations of the ‘Chill Guy’ flooding people’s timelines. Amid the meme’s popularity boost, crypto investors created a token inspired by the internet sensation. On November 20, the meme’s momentum fueled the token’s 400% rally to $0.44 in 24 hours. However, its price momentarily dropped over 30% after Banks announced he would take legal action against the token for copyright infringement. Since then, the memecoin has surged around 50% to its all-time high (ATH), recording two new highs during the last day. The token hit the $0.56 mark on Tuesday afternoon before surging another 20% to its latest ATH of $0.65 on Wednesday morning. The cryptocurrency hit a market capitalization of $657 million before retracing below $600 million, sitting as the eighth-largest Solana-based memecoin. Memecoin Sensation Scores Major Listings The token’s frenzy has been fueled by the meme’s current popularity and its endorsement by public figures. A week ago, El Salvador’s pro-Bitcoin President, Nayib Bukele, shared the just a chill guy meme as BTC traded above $94,000 for the first time in history. Moreover, Popular YouTuber Mr. Beast called the internet sensation the “biggest meme of our lifetime” after streamer Ninja shared his version of the meme on Tuesday. Adding to the momentum, major crypto exchanges have announced their listing of the latest memecoin sensation. On November 26, Bybit listed CHILLGUY on their Spot trading platform, while Binance announced it would add perpetual contracts with up to 75x leverage to Binance Futures on November 27. Amid the CHILLGUY frenzy, an investor made over $6 million from the token. As on-chain data analytics firm Lookonchain reported, a crypto trader spent 0.75 SOL, worth $160, to buy 12.5 million CHILLGUY tokens. Related Reading: Altcoins ‘Starting To Run’ After Reclaiming This Key Level, Altseason Around The Corner? Twelve days later, the trader now holds 9.2 million tokens, making a total profit of $6.1 million at the time of Lookonchain’s report. Some community members noted that if the cryptocurrency continues its rapid growth, it could flip other memecoin sensations like dogwifhat (WIF) and Popcat (POPCAT) within a week. However, it remains to be seen whether the token can sustain its current momentum or become a one-hit crypto wonder. As of this writing, CHILLGUY trades at $0.59, a 23.3% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

Amid a significant uptrend in crypto prices, altcoins are beginning to outperform Bitcoin (BTC), marking a notable shift since the historic highs of 2021. This surge coincides with Bitcoin nearing an all-time high of $100,000, fueled by the presidential election victory of Donald Trump, who positions himself as a pro-crypto leader. However, Bloomberg reports that the uncertainty stemming from the 2021 crypto collapse remains palpable among investors, as many altcoins experienced dramatic price fluctuations during past market cycles. Expert Voices Skepticism On Altcoins Rally Altcoins have shown impressive gains, with tokens like Solana (SOL) reaching new all-time highs, while many others have more than doubled in price since the beginning of the year.  Historically, altcoins tend to outperform Bitcoin during market rallies but can also experience sharper declines during downturns due to their higher volatility and lower trading volumes. Related Reading: $15 Trillion Market Cap For Bitcoin? Crypto Firm CEO Predicts Explosive Growth The crypto market has been cautious since major players like FTX and crypto lender Celsius collapsed, which contributed to a significant bear market. Despite this, recent activity indicates a resurgence, with increased trading volumes and price rises among altcoins throughout November.  Interestingly, James Butterfill, head of research at CoinShares, expressed skepticism about a massive altcoin rally, particularly in light of potential regulatory changes, including a proposed national Bitcoin reserve. Republican Senator Cynthia Lummis has introduced the Bitcoin Act, which seeks to allocate funds from the Federal Reserve’s gold reserves to acquire a strategic stockpile of 1 million Bitcoin.  Butterfill told Bloomberg that the political implications of such legislation could significantly affect market dynamics, potentially increasing Bitcoin’s dominance over its peers. ETF Approval Hopes Could Boost Crypto Interest Under Trump While Solana stands out as the only major altcoin to surpass its previous highs this year, experts like Nikolay Karpenko from crypto trading firm B2C2 believe this rally could differ from the 2021 experience.  The expert highlighted the industry’s maturity over the past few years, which has seen improvements in risk management and the entry of “more strategic” and institutional investors into the crypto space. As altcoins continue to gain traction, data shows that trading volume has become increasingly concentrated among the five most traded altcoins, rising from less than 50% earlier this year to over 60% this month.  This shift can be attributed to unique factors affecting individual cryptocurrencies, such as Solana’s rise fueled by excitement over potential exchange-traded fund (ETF) approvals and Dogecoin’s gains related to its payment capabilities and support from figures like Elon Musk and his new position at the Department of Government Efficiency (DOGE). Related Reading: XRP Consolidates Below Crucial Resistance – Analyst Sets $1.60 Target The expert noted that the possibility of more altcoins receiving approval for ETFs under Trump’s administration could further enhance institutional interest. However, Butterfill cautioned that the market may begin to differentiate between assets, focusing more on fundamentals rather than riding the wave of speculative trading. Despite the bullish sentiment surrounding altcoins, they still trade at significantly lower prices than Bitcoin, with Ethereum (ETH), the second-largest cryptocurrency, priced at only about 4% of Bitcoin’s value. After hitting a new record high of $263 during last week’s rally, Solana has since fallen back to the $240 level, echoing the current correction Bitcoin is experiencing after hitting its new all-time high of $99,500. At the time of writing, SOL is up nearly 6% in the 24-hour time frame, while BTC is up 4% in the same period. Cover image from Dall-E, chart from Tradingview

Solana-based memecoin launchpad Pump.fun is in the middle of a storm after a wave of users misusing its Livestream feature to pump their tokens became viral. The recent harmful behavior comes amid the cycle’s memecoin frenzy, which has seen numerous community members use deceitful tactics to profit from the sector’s popularity. Related Reading: Shiba Inu […]

Solana (SOL) decentralized finance (DeFi) activity has gained significant momentum, with its decentralized exchanges (DEX) surpassing Ethereum (ETH) DEX in monthly trading volume. So far in November, Solana-based DEXes have recorded over $100 billion in trading volume, marking a major milestone for the ecosystem. Solana DeFi Ecosystem Gains Momentum, Outshines Ethereum DeFi Solana, the fourth-largest cryptocurrency with a reported market cap of $118.34 billion has been on a record-breaking price trajectory. Recently, the digital asset established a new all-time-high (ATH) of $263 after having hit as low as $8 at the peak of the FTX fiasco. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? Now, the layer-1 blockchain has achieved another milestone as Solana-based DEXes surpassed $100 billion for the first time in monthly trading volume. According to data from DefiLlama, the 30-day cumulative trading volume recorded by Solana DEXes stands at $116.51 billion. In comparison, Ethereum mainnet-based DEXes saw $61.61 billion in trading volume during the same period. This means Solana’s DEX trading volume was more than double that of Ethereum’s. On a month-over-month (MoM) basis, Solana’s DEX volume surged over 100% from October, which stood at $52.5 billion. Meanwhile, the total value locked (TVL) in Solana’s DeFi ecosystem has increased to $9.30 billion, up from $6.23 billion a month ago. The unprecedented rise in Solana-based DEX trading volume can be attributed to several factors. These include the ongoing memecoin frenzy, the blockchain’s low transaction fees, and an intuitive user interface. It is worth highlighting that Solana’s TVL has yet to surpass its ATH TVL of $10.02 billion, which was recorded almost three years ago in November 2021. In January 2023, the blockchain’s TVL hit a low of $210 million, dragged down by the wider crypto bear market exacerbated by the downfall of FTX exchange. At the time of writing, $3.58 billion of Solana’s TVL is tied to the liquid staking protocol Jito, while Jupiter DEX holds $2.4 billion. Another prominent Solana-based DEX, Raydium, accounts for $2.37 billion of TVL. Where Is SOL Headed? Solana’s growing user adoption has played a crucial role in driving the recovery of its native token, SOL. On a year-to-date (YTD) basis, SOL has gained over 157%, rising from $101 on January 1 to $263 on November 23. Related Reading: Solana Records New ATH After 3 Years: Is SOL Ready To Flip USDT? Despite such extraordinary returns, crypto experts remain bullish on SOL, expecting further gains for the digital asset. According to a recent analysis by Titan of Crypto, SOL may hit $400 as it appears to be breaking out from a prolonged cup-and-handle pattern. Additional bullish factors, such as the declining Bitcoin (BTC) dominance and the rising likelihood of a Solana exchange-traded fund (ETF), could further propel SOL to new highs. SOL trades at $248.31 at press time, up 0.5% in the past 24 hours. Featured image from Unsplash, charts from DefiLlama.com and Tradingview.com

Solana started a fresh increase above the $240 zone. SOL price is consolidating gains and might aim for an upside break above the $255 resistance. SOL price started a fresh increase after it settled above the $220 level against the US Dollar. The price is now trading below $255 and the 100-hourly simple moving average. There is a short-term bearish trend line forming with resistance at $252 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $255 zone. Solana Price Eyes More Upsides Solana price formed a support base and started a fresh increase above the $232 level beating Bitcoin and Ethereum. There was a strong move above the $245 and $250 resistance levels. The price even cleared the $260 level. A high was formed at $2648 and the price is now consolidating gains. There was a move below the $260 and $255 levels. The price dipped below the 50% Fib retracement level of the upward move from the $230 swing low to the $264 high. However, the bulls are active near the $242 support and the 61.8% Fib retracement level of the upward move from the $230 swing low to the $264 high. Solana is now trading below $255 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $252 level. There is also a short-term bearish trend line forming with resistance at $252 on the hourly chart of the SOL/USD pair. The next major resistance is near the $255 level. The main resistance could be $265. A successful close above the $265 resistance level could set the pace for another steady increase. The next key resistance is $275. Any more gains might send the price toward the $282 level. Are Dips Limited in SOL? If SOL fails to rise above the $255 resistance, it could start a downside correction. Initial support on the downside is near the $246 level. The first major support is near the $242 level. A break below the $242 level might send the price toward the $238 zone. If there is a close below the $238 support, the price could decline toward the $230 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $246 and $242. Major Resistance Levels – $255 and $260.

Solana (SOL) has recorded a new all-time high (ATH) of $262, marking a historic recovery after three years of tumultuous price action. Notably, the token had once fallen as low as $8 at the peak of the FTX exchange collapse and the ensuing crypto bear market. Solana Makes Historic Recovery, Eyes USDT Flippening Solana (SOL), the much-touted “Ethereum killer,” is again in the spotlight. After dominating the 2020-21 crypto bull market, the digital asset saw its value plummet after FTX’s spectacular collapse, led by Sam Bankman-Fried. However, SOL has staged an impressive comeback over the last two years. Related Reading: $4,000 Solana Price Possible As SOL Breaks Out Of Massive Cup And Handle Pattern At the time of writing, SOL is the fourth-largest cryptocurrency, with a reported market cap of over $123 billion. The layer-1 blockchain’s market cap is just $8 billion shy of overtaking stablecoin Tether’s (USDT) market cap of $130 billion. Notably, SOL needs a further 10% price appreciation to decisively increase USDT’s market cap and become the third-largest digital asset by market cap. SOL will only trail Bitcoin (BTC) and Ethereum (ETH) as the third-largest cryptocurrency. Given the token’s recent price trajectory, it won’t be surprising to see SOL surging past the leading stablecoin’s market cap before the end of the year. In the last three weeks alone, the token has experienced a remarkable 75% surge, rising from $148 on November 4 to $259 at the time of writing. While the broader crypto market has gained momentum following the victory of pro-crypto Republican US presidential candidate Donald Trump, attributing SOL’s rise solely to this would be disingenuous. Memecoin Frenzy, Increased Network Activity, ETF Potential Helped SOL SOL’s remarkable turnaround can be linked to several factors that have spurred increased network adoption. One of the most prominent contributors is the ongoing memecoin frenzy, which has emerged as a dominant narrative in the crypto market. Related Reading: Solana Memecoin Market Thrives: POPCAT Reaches New Record Price Of $1.75 Memecoins – particularly those based on the Solana blockchain – have emerged as the crypto market’s top narrative over the last year. In October alone, the total market cap of Solana-based memecoins surpassed $10 billion. This memecoin craze has also translated into heightened network activity for Solana. Between September and October, Solana saw a 42% month-over-month (MoM) increase in active addresses, amounting to approximately 123 million. Besides benefitting from the memecoin narrative, Solana has also seen increased decentralized finance (DeFi) activity throughout the year. According to DefiLlama data, Solana is home to the second-largest DeFi ecosystem in the world, with a total value locked (TVL) of $9.265 billion. In addition, there are growing prospects for a Solana-based exchange-traded fund (ETF). A recent report indicates that the US Securities and Exchange Commission (SEC) is holding active talks with multiple asset managers regarding the potential launch of a new spot Solana ETF. While SOL’s achievement of a new ATH is impressive, experts believe the token still has significant growth potential. At the time of writing, SOL trades at $259, up 6.2% over the past 24 hours. Featured image from Unsplash, charts from DefiLlama.com and Tradingview.com

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 network remains one of the leading blockchains in the dynamic crypto sector, drawing in a significant number of users on a daily basis, which has led to a recent notable spike in its transfer volume to unprecedented levels. Solana Sets New Benchmark In Adoption Glassnode,  a world-leading on-chain and financial platform, reported that the […]

A young crypto trader attempted to rug-pull a Solana-based memecoin on a live stream, but the crypto community joined to “teach him a lesson” by sending the token to an $80 million market cap. Related Reading: Bitcoin ‘Parabolic Phase Just Begun’, Is BTC Hitting $100,000 This Week? Solana-Based Memecoin Rug Pulled By 12-Year-Old As the market enters the rally’s second leg, Solana memecoins remain the cycle’s top narrative, and many traders continue to try to find and profit from the next big thing. However, scammers continue to attempt to take advantage of the memecoin frenzy. A Gen Z trader has made the headlights after trying to rug a Solana-based memecoin he created on a live stream. The 12-year-old trader has a crypto-dedicated X account and has previously shared his profits. On Monday, he posted a picture sharing he “just made $2k before school.” The next day, the young trader launched the Gen Z Quant (QUANT) token on the popular Solana-based launchpad, Pump.fun. While the token’s price rose, he expressed surprise before flipping the watchers. According to the on-chain analytics firm Lookonchain, the kid sold all his QUANT holdings, around 51 million tokens. The Gen Z trader got 128 Solana (SOL), worth $30,000, for the tokens, making a $29,600 profit in minutes. After the kid ended the live stream, the crypto community took over the Solana memecoin, sending the price toward the $0.08 mark as “revenge.” The token rose over 77,000% to a market capitalization of $82.3 million in the early hours of Wednesday before retracing toward the $50 million mark. As a result, the Gen Z trader’s holdings would have been worth around $4 million just a few hours after rug-pulling. Some crypto investors considered the takeover a “lesson for all of those who rug.” Meanwhile, others questioned the state of the community for it to be scammed by a child and argued that investors should not abandon the Solana memecoin “to prove a point.” The Rapid Fall Of QUANT Following the rug pull, the kid created another two memecoins, LUCY and SORRY, seemingly poking fun at the crypto community for his QUANT scheme. However, he sold these tokens for 103 SOL, worth $24,000 at the time of the report. The Gen Z trader’s scheme also resulted in several memecoins related to the event. However, some of the tokens were based on the kid and his family, who had their information doxxed online after the incident. Notably, a lucky trader managed to get a 2,141x return on his QUANT investment despite the rug pull. Lookonchain also reported on an investor who spent 2 SOL, valued at $462, to buy 18.89 million QUANT tokens. Related Reading: Aptos Following SUI’s Lead? Analyst Says APT’s ‘Explosive Breakout’ Targets $20 Three hours later, the crypto community had sent the token to its peak, driving his unrealized profits to nearly $1 million. The trader sold 3.71 million QUANT for 116 SOL, worth $27,000, and left 15.18 million QUANT, making an unrealized profit of $962,000 at the time of the report. Despite the takeover, the memecoin’s rally has significantly slowed throughout the day, falling 57% from its peak. As of this writing, the token trades at $0.035, with a market capitalization of $35.11 million. Featured Image from Unsplash.com, Chart from TradingView.com