{"id":556275,"date":"2023-10-20T17:00:33","date_gmt":"2023-10-20T17:00:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=556275"},"modified":"2023-10-20T12:09:31","modified_gmt":"2023-10-20T12:09:31","slug":"bulls-thrust-solana-to-25-what-traders-should-expect-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bulls-thrust-solana-to-25-what-traders-should-expect-next\/","title":{"rendered":"Bulls Thrust Solana To $25 – What Traders Should Expect Next"},"content":{"rendered":"

Solana (SOL) has witnessed an impressive resurgence, climbing to $25.46, marking a remarkable 10% rally in the past 24 hours. This surge is part of a broader trend, with SOL’s price experiencing a seven-day surge of 19.4%, further solidifying its position as one of the prominent players in the crypto sphere.<\/span><\/p>\n

Solana’s remarkable journey to its <\/span>current valuation<\/span><\/a> is a testament to its resilience, especially considering the tumultuous events it weathered nearly a year ago. In November, the cryptocurrency faced a severe setback due to the FTX implosion saga, which sent SOL plummeting to $8.\u00a0<\/span><\/p>\n

However, Solana has emerged from the ashes, and the crypto community is taking notice of its remarkable recovery.<\/span><\/p>\n

Related Reading: Why Is Bitcoin SV (BSV) Up 63% Today? Find Out Here<\/a><\/div>\n

Solana Technical Signals Point To A Bullish Momentum<\/strong><\/h2>\n

The recent surge in SOL’s price can be attributed to several key factors. One notable driver is the increasing network activity and substantial growth within the Solana ecosystem, particularly in the realm of decentralized finance (DeFi).\u00a0<\/span><\/p>\n

\n

This snippet is from my “Is Solana Dead” video. Despite the FTX fallout, $SOL<\/a> still has a lot going on behind the scenes!<\/p>\n

If you want to see the whole video, its on my channel, I will post the link on my X profile! pic.twitter.com\/De6j5aNGxx<\/a><\/p>\n

\u2014 Frankie Candles (@Frankie_Candles) October 19, 2023<\/a><\/p><\/blockquote>\n

The crypto world was offered a glimpse of this growth in a <\/span>video shared by @Frankie_Candles<\/span><\/a>, which shed light on the vibrant activity happening “behind the scenes” in the Solana ecosystem.<\/span><\/p>\n

Notably, the total value locked in Solana’s DeFi smart contracts has seen a significant upswing, soaring from $210 million in January 2023 to $331 million in October, as reported by <\/span>DefiLlama<\/span><\/a>.<\/span><\/p>\n

\"\"SOL TVL. Source: DefiLlama<\/pre>\n
Furthermore, Solana bulls have reinforced the bullish outlook by successfully maintaining support at the $25 mark and breaching the upper dotted falling trendline.\u00a0<\/span><\/p>\n
The presence of a buy signal is often considered an encouraging sign for traders, reinforcing confidence in the cryptocurrency’s upward trajectory.<\/span><\/p>\n
One key technical aspect to watch out for is the potential for a “golden cross.” A golden cross occurs when a short-term moving average crosses above a long-term moving average, typically signaling a possible bullish breakout. This could be a <\/span>pivotal moment for Solana<\/span><\/a>, as it may provide further confirmation of its bullish momentum.<\/span><\/p>\n
<\/p>\n
SOL has a market cap of $11.26 billion as of today. Chart: TradingView.com<\/a><\/pre>\n
SOL Neckline Resistance<\/strong><\/h2>\n
Another significant element to monitor on the charts is the possibility of Solana conquering the neckline resistance once again. The neckline resistance represents a critical point that acts as a threshold for bullish momentum. <\/span><\/p>\n
Historically, breaking through this level has been a precursor to sustained uptrends, suggesting the potential for further gains in the near future. If Solana manages to achieve this, it will mark a <\/span>strong resurgence<\/span><\/a>, reaffirming its position as a strong force in the ever-evolving cryptocurrency landscape.<\/span><\/p>\n
Related Reading: ETH Price Watch: Impact On Price As Traders Ditch Bitcoin On Derivatives Market<\/a><\/div>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Shutterstock<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Solana (SOL) has witnessed an impressive resurgence, climbing to $25.46, marking a remarkable 10% rally in the past 24 hours. This surge is part of a broader trend, with SOL’s price experiencing a seven-day surge of 19.4%, further solidifying its position as one of the prominent players in the crypto sphere. Solana’s remarkable journey to its current valuation is a testament to its resilience, especially considering the tumultuous events it weathered nearly a year ago. In November, the cryptocurrency faced a severe setback due to the FTX implosion saga, which sent SOL plummeting to $8.\u00a0 However, Solana has emerged from the ashes, and the crypto community is taking notice of its remarkable recovery. Related Reading: Why Is Bitcoin SV (BSV) Up 63% Today? Find Out Here Solana Technical Signals Point To A Bullish Momentum The recent surge in SOL’s price can be attributed to several key factors. One notable driver is the increasing network activity and substantial growth within the Solana ecosystem, particularly in the realm of decentralized finance (DeFi).\u00a0 This snippet is from my “Is Solana Dead” video. Despite the FTX fallout, $SOL still has a lot going on behind the scenes! If you want to see the whole video, its on my channel, I will post the link on my X profile! pic.twitter.com\/De6j5aNGxx \u2014 Frankie Candles (@Frankie_Candles) October 19, 2023 The crypto world was offered a glimpse of this growth in a video shared by @Frankie_Candles, which shed light on the vibrant activity happening “behind the scenes” in the Solana ecosystem. Notably, the total value locked in Solana’s DeFi smart contracts has seen a significant upswing, soaring from $210 million in January 2023 to $331 million in October, as reported by DefiLlama. SOL TVL. Source: DefiLlama Furthermore, Solana bulls have reinforced the bullish outlook by successfully maintaining support at the $25 mark and breaching the upper dotted falling trendline.\u00a0 The presence of a buy signal is often considered an encouraging sign for traders, reinforcing confidence in the cryptocurrency’s upward trajectory. One key technical aspect to watch out for is the potential for a “golden cross.” A golden cross occurs when a short-term moving average crosses above a long-term moving average, typically signaling a possible bullish breakout. This could be a pivotal moment for Solana, as it may provide further confirmation of its bullish momentum. SOL has a market cap of $11.26 billion as of today. Chart: TradingView.com SOL Neckline Resistance Another significant element to monitor on the charts is the possibility of Solana conquering the neckline resistance once again. The neckline resistance represents a critical point that acts as a threshold for bullish momentum. Historically, breaking through this level has been a precursor to sustained uptrends, suggesting the potential for further gains in the near future. If Solana manages to achieve this, it will mark a strong resurgence, reaffirming its position as a strong force in the ever-evolving cryptocurrency landscape. Related Reading: ETH Price Watch: Impact On Price As Traders Ditch Bitcoin On Derivatives Market (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":556281,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,4735,86420,83626],"class_list":["post-556275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-price-action","tag-sol-price","tag-solana"],"acf":[],"yoast_head":"\nMATIC market cap currently at $6.8 billion. Chart: TradingView.com<\/title>\n<meta name=\"description\" content=\"Solana (SOL) has witnessed an impressive resurgence, climbing to $25.46, marking a remarkable 10% rally in the past 24 hours. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bulls Thrust Solana To $25 – What Traders Should Expect Next","url":"http:\/\/uniquehot.com\/news\/bulls-thrust-solana-to-25-what-traders-should-expect-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bulls-thrust-solana-to-25-what-traders-should-expect-next\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/a-68.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/a-68.png?fit=553%2C367"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","price action","sol price","solana"],"dateCreated":"2023-10-20T17:00:33Z","datePublished":"2023-10-20T17:00:33Z","dateModified":"2023-10-20T17:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bulls Thrust Solana To $25 – What Traders Should Expect Next\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bulls-thrust-solana-to-25-what-traders-should-expect-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bulls-thrust-solana-to-25-what-traders-should-expect-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-68.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-68.png?fit=553%2C367\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"price action\",\"sol price\",\"solana\"],\"dateCreated\":\"2023-10-20T17:00:33Z\",\"datePublished\":\"2023-10-20T17:00:33Z\",\"dateModified\":\"2023-10-20T17:00:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/a-68.png?fit=553%2C367","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/556275"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=556275"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/556275\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/556281"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=556275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=556275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=556275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}