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As holders of Solana (SOL 1.08%) know perfectly well, there's always a way to mint a new millionaire -- or a pauper -- in cryptocurrency. Get-rich-quick schemes usually don't get anyone rich except for the one selling the scheme.
Solana's network is experiencing record growth with 5 million new daily addresses as price recovers from support levels, suggesting potential for further upside if technical patterns hold.
Ethereum (ETH) rival Solana (SOL) skyrocketed several multiples in terms of total value locked (TVL) in the last quarter of 2024, Messari's latest data shows. In its new “State of Solana Q4 2024” report, the crypto analytics firm notes that TVL on Solana grew by 64% quarter-on-quarter (QoQ) and 486% year-on-year (YoY) to $8.
Solana (SOL) has experienced its share of volatility, and recent trading patterns suggest that the $190 and $199 price levels are now key factors in determining the cryptocurrency's next big move. These levels are emerging as pivotal for the direction of SOL in the short term, and understanding their significance can help traders navigate the potential market shifts ahead.
Solana (SOL) price shows signs of a potential breakout after recent volatility. The cryptocurrency surged to $290 in January before retreating to $200 in early February.
The Central African Republic (CAR) launched its Solana-based meme coin, $CAR, aiming to leverage the global meme coin trend.
Solana has been on a downward trend, shedding nearly 20% of its value since closing at $252.42 on January 19.
Solana (SOL) has been showing significant progress, with the blockchain network reaching new milestones. In particular, over 5 million new addresses are being created daily, a major sign of the network's expanding user base and increasing adoption.
The uncertainty over the crypto market continues to hover as the prices of major tokens remain within a restricted range. The start of the week was neither bullish nor bearish, displaying the traders being unsure of the next price action. Meanwhile, the market capitalisation is maintaining a declining trend with the resistance lowering every day.
These key levels can now guide the next price movements.
Solana (SOL) made a strong start to 2025, with January seeing the altcoin rise to $290, only to face a sharp correction below $200 in early February. Despite the recent pullback, Solana may be on the verge of reaching a new all-time high, as it remains within an ascending channel pattern on its daily chart.
Solana continues to show bullish momentum. Its growth trajectory suggests a potential for sustained upward movement.
Ethereum's recent market performance has investors worried particularly because technical indicators point to an impending death cross. The bearish signal of the 50-day EMA crossing below the 200-day EMA may strengthen Ethereum's downward trend and heighten selling pressure in general.
Crypto analyst Ali Martinez has highlighted a crucial moment for the price action of Solana, pointing to a key support level within a parallel channel. His technical analysis, which is based on SOL price action on the daily candlestick timeframe, shows that the altcoin has been trading in an uptrend channel since July 2024.
What's driving POPCAT's explosive growth?
The cryptocurrency market has been anticipating a possible altcoin season, but recent volatility has weighed down momentum.
The crypto market recorded slight gains following increasing bull activity in the last 48 hours. Bitcoin (BTC), Ethereum (ETH), Solana, and XRP led a sharp turn as other altcoins struggled in the same period.
If you weren't part of Solana's (SOL) massive surge during the last crypto bull run, a new opportunity is emerging—Lightchain AI.
After a relatively solid performance in January — which saw the altcoin reach $290, SOL started February with a deep correction beneath the $200 level. However, the Solana price could be on its way to a new all-time high, as it continues to trade within an ascending channel on a larger timeframe.
While Bitcoin and Ethereum have paved the way for ETFs, it is now Solana that is set to write a new chapter. The SEC has just ignited an unexpected fuse: the agency has started the countdown for the approval of a Solana ETF.
Solana has been under intense selling pressure since late January, after reaching its all-time high. The price has plummeted over 40%, leaving investors worried about the sustainability of its bullish momentum.
Solana has experienced a sharp drawdown, dropping below the $200 mark earlier this week. The decline comes amid broader market volatility, leaving investors uncertain about the altcoin's next move.
Solana drifted upwards throughout the weekend, aggressively defending the 200-day moving average. Solana (SOL) rose for three straight days, reaching a high of $210, its highest level since Feb. 5.
Solana (SOL) has been a dominant force in crypto, rising from under $1 to an all-time high of $260+. However, amid shifting market sentiment, the Solana price has become increasingly unstable. Analysts predict more losses ahead before any potential rebound.
