Rare Solana Price Pattern Hints 100% Rally As SOL Beats Ethereum & Base

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Despite Solana’s network outshining Ethereum in several DeFi (Decentralized Finance) metrics, maintaining a bullish price trend has proven challenging. An unusual price pattern hints at a possible 100% surge for SOL, as this cryptocurrency consistently outperforms both Ethereum and Base. However, Bitcoin‘s ongoing dominance above $100 is yet to be reflected in Solana’s performance within the decentralized finance sector.

Rare Solana Price Pattern Predicts Massive 100% Rally, Overtakes Ethereum & Base

The cost of Solana is picking up speed as its decentralized trading platform (DEX) records over $3.8 billion in transactions within a 24-hour period. This recent milestone places Solana ahead of Ethereum and Binance Smart Chain, suggesting robust expansion within the Solana network’s environment.

Raydium, a significant Decentralized Exchange built on the Solana network, experienced a massive increase in trading activity, which soared tenfold. Meme coins played a substantial part in this rise, generating more than $250 million in trading volume on Pumpdotfun. This spike underscores Solana’s growing competitiveness within the blockchain market.

This advancement makes Solana a strong competitor within the leading blockchains, with experts anticipating that its current progress could spark a 100% increase in its value. As Solana’s involvement in decentralized finance (DeFi) expands steadily, its influence is growing noticeably.

Experts believe that Solana’s swift expansion is largely due to its affordable transaction costs and robust infrastructure, which makes it a popular choice among developers and traders looking for efficient blockchain systems. With Ethereum struggling with congestion issues, Solana’s scalability provides it with a significant advantage.

Should the ongoing tendencies continue, Solana may firmly establish itself among the top-tier blockchain networks. The increasing utilization of Solana’s technology, demonstrated by its capacity to compete with Ethereum in terms of transaction volume, highlights a rising trend of adoption.

Analyst Predicts SOL Surge to $382 Using Cup-and-Handle Pattern

A cryptocurrency expert has made an assertive forecast about Solana, stating it could reach $382. This projection is based on a “cup-and-handle” pattern observed in Solana’s three-day price graph during technical analysis.

In simpler terms, the “cup-and-handle” chart pattern, which is typically linked with strong price increases in a bullish context, seems to have emerged for Solana according to the analyst’s interpretation. This could suggest an upcoming potential surge or rally.

As optimism about Solana grows, with its blockchain network demonstrating steady development and expanding user base, the projected price of $382 indicates a significant increase over its current value, implying high investor faith in this cryptocurrency.

Solana Price Analysis 

Over the last seven days, the Solana coin’s value has increased by approximately 10%, mirroring growth in the broader crypto market, which saw Bitcoin exceed $100k. Currently, one SOL is being traded at $214.15, showing modest growth throughout the day. At this moment, the Relative Strength Index (RSI) stands slightly below the neutral level of 50, at 49.

Despite the Awesome Oscillator still being positive, it’s exhibiting hints of decreasing energy. The histogram suggests a possible lessening of bullish power, making it crucial to closely watch for any changes that might occur.

If Solana’s predicted price stays above $214 and manages to break through $225, there’s potential for a surge up to around $263.83. However, if it can’t hold the $200 support level, there could be a risk of a dip back down to approximately $175.

The unique price trend of Solana suggests a possible 100% increase, bolstered by robust DeFi statistics that outshine Ethereum and Base. As the trading volume on Solana’s DEX escalates and its user base expands, analysts foresee an optimistic future, establishing Solana as a formidable competitor in the blockchain realm.

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2025-01-07 17:46