Solana (SOL) Stuns Traders as Its Price Skyrockets Despite Market Downturn: What's Next?

Solana stands out as one of the flagship assets of an optimistic crypto era marked by the return of Donald Trump. Yet, behind this bullish shine, all is not so simple for SOL traders.

Solana is one of the flagship assets of an optimistic crypto era, marked notably by the return of Donald Trump. Yet, behind this bullish shine, all is not so simple for SOL traders.

Between maintaining positions by long-term investors and weak selling pressure, this altcoin seems to be gearing up for future increases. But how far can it really go?

Solana: An altcoin favored by long-term investors

Solana news: Glassnode data reveals that this crypto, currently valued at $224, attracts a base of loyal investors betting on the future. These investors aren’t just dreaming of a rally; they are literally locking up their assets, thus constituting a stabilizing force for the market.

“The current market shows a notable decrease in selling pressure, suggesting that those who wanted to offload SOL have already done so,” noted Glassnode.

Thus, while the majority of altcoins fluctuate, Solana benefits from a unique momentum.

Crypto SOL: A gathering towards the heights?

Attention now turns to an ambitious target: $264. According to analysts, SOL could break through the symbolic barrier of $235 to resume its ascent. This target is based on promising technical indicators:

A triple bottom formation on the daily chart, indicating potential support at $220.

A bullish divergence between the price and the Relative Strength Index (RSI), suggesting that the downtrend is losing momentum.

Resistance at $235, which could be broken if the bullish pressure continues.

However, caution remains paramount. If Solana strives to climb to new heights, it will need to convince skeptics in the face of persistent volatility. Experienced traders know that every move in the crypto world is a battle between patience and haste.

This concludes the overview of a market torn between mixed signals and soaring ambitions. Solana, despite everything, retains its ability to inspire dreams. Optimism is growing, particularly around a potential SOL ETF in the United States, further enhancing investors’ hopes.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose