Solana has experienced a turbulent few days, with its price fluctuating between yearly highs at $225 and local lows at $200. This volatility has sparked significant interest among traders and investors as Solana tests key levels critical to its next move. Top analyst and macro investor Carl Runefelt has weighed in with a technical analysis, suggesting that a decisive break above the $225 resistance level could ignite a rally toward $246. According to Rubefelt, this level represents a pivotal threshold, and surpassing it may lead to accelerated bullish momentum. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target The broader crypto market adds another layer of intrigue, with Bitcoin once again nearing its all-time high. Historically, Bitcoin’s movements have fueled market-wide rallies, and its current trajectory could provide the momentum needed for Solana to break out of its range and achieve new highs. As traders closely monitor both Solana’s and Bitcoin’s price action, the coming days will likely set the tone for the next chapter in this bullish cycle. Will Solana leverage market strength to surge past $225, or will resistance hold, leading to further consolidation? The unfolding narrative promises to be crucial for altcoin enthusiasts and market participants alike. Solana Testing Crucial Supply Solana is consolidating below critical supply levels that could act as a launchpad for testing its all-time high at $258. Currently trading in a tight range, Solana’s price action reflects indecision as traders and investors anticipate the next big move. According to key analyst Runefelt, the altcoin is positioned for a breakout. Sharing his technical analysis on X, Runefelt outlined a potential 12% surge, targeting the $246 resistance level—a crucial hurdle before Solana can challenge its historical peak. Breaking above this level would signal strong bullish momentum and likely set the stage for a rally to new all-time highs. However, for this scenario to play out, Solana must not only breach current levels but also hold them as support. Consolidation above these key thresholds would reinforce confidence among market participants and attract more demand, further fueling upward momentum. Related Reading: Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs The broader market’s movements, particularly Bitcoin nearing its all-time highs, add another layer of significance. If Bitcoin sustains its bullish trajectory, it could provide the necessary tailwind for Solana to break through its consolidation phase. The coming days will be crucial in determining Solana’s direction. A breakout to the upside could solidify its place as a leading altcoin this cycle, while failure to hold above current levels might delay the rally. Key Levels To Watch Solana (SOL) is currently trading at $219 after four days of sideways consolidation just below the critical $225 resistance level. This consolidation reflects a market waiting for a decisive breakout as traders eye the next move. Holding above the $200 demand level remains essential for confirming the bullish outlook. This support has acted as a foundation for Solana’s recent uptrend, and a failure to maintain it could signal weakness and open the door for further downside. Breaking and holding above the $225 resistance, however, is pivotal to affirm Solana’s bullish trend. This level serves as a psychological barrier and the bears’ last stronghold, with many likely to take profits or initiate shorts. If Solana can overcome this resistance, it could set the stage for an aggressive rally to all-time highs, effectively ending selling pressure. Related Reading: Bitcoin Weekly RSI Entering Power Zone – Last Time BTC Soared 80% A decisive breakout above $225 would not only signal bullish strength but also create a domino effect, attracting new buyers and fueling momentum. Such a move could lead to a sharp climb, putting SOL on track to challenge its $258 all-time high and potentially set new records. In the coming days, all eyes will be on Solana’s ability to reclaim key levels and build on its bullish momentum. Featured image from Dall-E, chart from TradingView
The recent surge in meme coins, led by Dogecoin’s impressive performance, signals a renewed interest in the crypto market as it rebounded post-election. With Dogecoin hitting a three-year high, many
The post XRP Hits $1, but Binance Suspends Withdrawals; Can You Still Cash Out? appeared first on Coinpedia Fintech News Binance, one of the world’s largest cryptocurrency exchanges, had temporarily suspended XRP withdrawals, leading to concern within the cryptocurrency community. The suspension was first brought to light by Edo Farina, who posted a video revealing the halt. This move has raised questions and sparked uncertainty among Ripple (XRP) supporters, as it comes at a time …
After Dogecoin hit a three-year high, many other major meme coins are breaking records amid surging demand.
The recent surge in Cardano’s (ADA) price has caught the attention of investors, as it breaks through key resistance levels, igniting discussions about its future potential. As ADA approaches a
The payments altcoin XRP defied a brief crypto market cooldown and surged by more than 15% in 24 hours to close out Friday. The asset’s gains materialized after the French bank Societe Generale (SocGen) announced a plan to deploy its euro-pegged stablecoin, the EUR CoinVertible (EURCV), on the XRP Ledger (XRPL). The multinational bank launched the The post XRP Defies Crypto Market Cool Down and Surges by More Than 10% Amid New XRPL Stablecoin Announcement appeared first on The Daily Hodl .
In an interesting development, the US courts have sentenced a crypto mixer operator from Ohio to jail. This development comes amidst active enforcement actions by US prosecutors on crypto mixers due to their reported role in aiding money laundering, hacks, and other illicit activities. Related Reading: No Bail For Tornado Cash Dev Alexey Pertsev, Dutch
Cardano (ADA) has captured investor attention with its ambitious price performances lately.
The post XRP Price Prediction: After a 97% Surge, Can the Sixth-Largest Crypto Break $3.30 in 2024? appeared first on Coinpedia Fintech News XRP has made a dramatic leap, hitting $1, up 97% this week alone, with a 24% rise just in the last 24 hours. This explosive rally has crypto enthusiasts buzzing, driven by a combination of factors including Ripple’s legal victories and growing speculation that SEC Chairman Gary Gensler may soon step down. Understanding XRP’s Rise: …
Since the beginning of November, the frog-themed meme coin Pepe has experienced solid bullish momentum, with its price…