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Solana News
Bitcoinist
4w
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Solana Sees Another Large Spike In Coin Days Destroyed, Could A Price Shift Be Next?
- Solana's price action has been impacted by the bearish market, with the altcoin struggling to maintain key support levels after a bullish period.
- A significant surge in Coin Days Destroyed on Solana indicates a movement of long-held coins, possibly signaling profit-taking or strategic realignment by investors.
- Coin Days Destroyed for Solana year-to-date reached around 3.55 billion SOL, marking the third-largest spike this year, suggesting a shift in holders’ conviction.
- Despite the increase in Coin Days Destroyed, Solana's network fundamentals remain strong with high network activity, including a large number of active addresses and transactions processed daily.
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Blockonomi
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Solana (SOL) Price Eyes $400–$500 as Chart Patterns Repeat 2023 Rally Setup
- Solana (SOL) is displaying a bullish trend with similarities to patterns before a significant price surge in 2023. The asset broke out of a consolidation phase and is now retesting previous resistance levels as new support.
- Analysts note that the current technical setup mirrors the structure seen in 2023, where a symmetrical triangle breakout led to a 5x price surge. Market watchers anticipate another substantial upward movement in the ongoing cycle.
- Although the current market cap of Solana is larger than in 2023, which may limit extreme gains, analysts project a peak price range of $400–$500. The recent pullback is viewed as a retest phase, with the $130–$140 zone acting as crucial support for further rally potential.
- The S/R flip around $130–$140 confirms bullish momentum, with buyers absorbing selling pressure and supporting the price above the breakout level. Despite a short-term dip in price, the overall technical structure remains favorable for a potential new cycle high.
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TronWeekly
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Solana Partners With Dubai VARA Driving SOL Price Rebound and Growth
- Solana partners with Dubai's VARA to enhance blockchain innovation and regulatory collaboration in the MENA region.
- SOL price increased by 4% to approximately $156.64 post-partnership, showing renewed investor confidence and potential rise to $200.
- Analysts observe bullish technical signals for SOL, with expectations of reaching $200, supported by increased long-term holding of SOL tokens.
- Solana's partnership with VARA signifies a strategic move for global expansion, aligning with Dubai's progressive regulatory environment and nurturing blockchain talent in the region.
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Livebitcoinnews
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Solana’s Pump.Fun Seeks $1B for Memecoin Surge
- Pump.Fun is aiming to raise $1 billion through a token sale valued at $4 billion at $PUMP, expected to boost the memecoin market on the Solana blockchain.
- The platform has already seen success with over eleven million tokens produced and a total market value of $4.5 billion, leveraging the growing interest in memecoins on Solana.
- Solana's price has surged to $155.62, up 7.73%, with a market cap of $81.31 billion, showcasing the network's strength and appeal to developers and traders.
- Pump.Fun faces competition in the memecoin market as other platforms like Raydium and LaunchLab enter the scene, while Pump's lending protocol, Pump.Fi, aims to revitalize trading activity on Solana.
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Newsbtc
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Solana Analyst Sets $300 Target – Can Bulls Sustain A Rally?
- Solana (SOL) is facing resistance at the $160 level, with concerns rising about a broader market retrace amid weakening market momentum and rising volatility.
- Analyst Kaleo has a bullish outlook for SOL, suggesting a potential rally to $300 if market momentum strengthens, but broader participation and risk appetite are needed for this scenario.
- While SOL remains in a tight range, its short-term outlook depends on the behavior of Bitcoin and Ethereum, with a breakout possible if leading assets stabilize and bulls step back in.
- Solana is currently trading at $157.46, with key support holding but momentum remaining weak. A break above the $162–$165 range could lead to a retest of the $180 resistance, while failure to do so may result in a drop towards the $144 support.
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Crypto-News-Flash
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Ethereum Shows Resilience as SOL, DOGE, and Other Crypto Giants See Weekly Bleeds
- Ethereum remains resilient in the current market cycle, with its price increasing while other major cryptocurrencies like Solana, Dogecoin, and SUI experienced significant drops on the weekly chart.
- ETH is up by 1.43% to $2,637 on the daily chart, outperforming SOL and DOGE, which saw drops of 1.2% and 1.3% respectively during the same period.
- While ETH showed a slight 0.27% increase on the weekly chart, SOL's price dropped by 9.8% and DOGE plummeted by over 12% in the same timeframe.
- Ethereum's positive momentum can be attributed to fresh boosts in institutional adoption and the ongoing developments to enhance the network's speed, scalability, and usability, positioning it favorably for future growth.
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Livebitcoinnews
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Solana Partners with VARA to Boost Crypto Innovation in Dubai
- Solana partners with VARA to strengthen Dubai’s regulated crypto ecosystem.
- Solana and Dubai's VARA sign Memorandum of Understanding to develop a united crypto community and support blockchain startups.
- Collaboration between Solana and VARA sets a global example by combining regulations with crypto innovation.
- Partnership aims to boost talent growth, establish the Solana Economic Zone, and enhance blockchain regulations in Dubai.
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Crypto-News-Flash
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Solana Scores Big as Classover Holdings Plans $500M Treasury Reserve
- Classover Holdings plans to raise $500 million to establish a SOL corporate treasury reserve with Solana as the core asset.
- Classover has secured a $400 million equity purchase agreement with Solana Strategies Holdings, bringing the total potential financing power to $900 million.
- 80% of the raised funds will be used to purchase SOL tokens, while Chaince Securities LLC will advise Classover on acquiring, staking, and managing its Solana holdings.
- Classover's commitment to a SOL-based treasury reserve aims to position the company as a pioneering entity embracing blockchain technology in its financial strategy.
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Cryptoticker
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Solana Price Prediction: Technical Breakout Signals Ahead?
- Solana (SOL) price is showing signs of life with a potential breakout after weeks of sideways movement.
- On the hourly chart, SOL price broke above multiple moving averages and cleared resistance levels around $160.50-$161.20, indicating bullish momentum.
- The daily chart shows SOL price bouncing higher from the 50-day SMA support, with a short-term target projection towards $166.61 and resistance at $168 and $179.
- The current breakout attempt is supported by technical factors, with potential targets at $170 and $180 if price sustains above key levels in the next 48 hours.
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Bitcoinsensus
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Solana Price Prediction: What the Chart Is Whispering Now
- Solana has recently shown a classic move in trapping both sides before making a bigger decision in the market.
- Possible scenarios include a retracement from the current supply zone or a drop into nearby demand before continuing on a bullish path.
- The outcome is uncertain as these are high-probability scenarios, not definite predictions.
- The market behavior is being closely observed for potential setups, but there are no guarantees in trading as price movements can be unpredictable.
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9 Likes
TheNewsCrypto
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Solana Price Drops As New Coin Seeks To Mirror Cardano’s November Pump
- Solana price has fallen sharply and remained below $160 since June.
- Unilabs (UNIL) shows potential and could be a top altcoin to watch this year.
- Cardano price may skyrocket to $2.91 based on expert analysis mirroring historical trends.
- Solana (SOL) price has declined, but analysts predict an uptrend with potential rise to $500.
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Newsbtc
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Solana Down 13%, But This Indicator Just Turned Bullish
- Analyst identifies a bullish signal on Solana's 12-hour chart based on the Tom Demark (TD) Sequential indicator.
- The TD Sequential buy signal suggests a potential reversal for Solana after a 13% drawdown in the past week.
- On-chain data shows a significant inflow of 2.86 million Solana tokens to Binance, potentially indicating a bearish effect if the motive is distribution.
- Solana's price has dropped to $153.90 following the recent bearish trend.
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Zycrypto
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Solana Leads in Daily Activity Despite Retracing in a Broadening Ascending Structure
- Solana's daily active addresses are increasing significantly, despite the cryptocurrency experiencing a pullback in a broadening ascending structure.
- Analysts suggest that Solana might bounce back towards the $190–200 target zone if it holds support at around $160 in the near term.
- Ark Invest CEO Cathie Wood remains positive about Solana, emphasizing its resilience amid challenges like the Sam Bankman-Fried controversy.
- Solana leads in daily active addresses and transaction volume, driven by its efficient ecosystem, low-cost, high-speed transactions, and a growing DeFi and meme coin presence.
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Blockonomi
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Solana (SOL) Price Forecast: TD Buy Signal Sparks Hopes of Rebound
- TD Sequential indicator flashes buy signal on Solana's SOL 12-hour chart post 13% weekly drop.
- Key support seen at $150 with resistance levels between $161 and $167.
- SOL trading volume surpasses $3.23B, showcasing strong activity despite recent losses.
- Traders anticipate bounce or further decline to $130 if the $150 support level doesn't hold.
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14 Likes
TheNewsCrypto
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Will Solana (SOL) Regain Strength and Target Its Next Resistance Zone?
- Solana (SOL) is trading within the $155 range and has faced $9.84 million in liquidations.
- The crypto market cap settled at $3.29 trillion after a brief spike, with major assets like Bitcoin (BTC) and Ethereum (ETH) showing downward trends.
- Solana's price movements have shown upticks, declines, and key support-resistance tests, with traders looking for a potential breakout or decline.
- Technical indicators suggest a bearish trend for Solana, with key resistance levels at around $155.70 and $156. The asset's BBP value and RSI indicate bearish control but room for reversal.
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