This week, Solana (SOL) is rallying past $150 with an 8.43% rise over the last month. With its $5.4 billion in TVL, Solana’s scalability and low fees maintain its position as a top contender in the market. Meanwhile, JetBolt (JBOLT) is making headlines during its explosive presale, with crypto whales rapidly turning to its innovative ecosystem. Both Solana and JetBolt could see remarkable movements this month, and traders are watching closely as October unfolds.
Will SOL break $160? How far will JetBolt go? Let’s explore the latest Solana and JetBolt developments.
Will Solana (SOL) Surge in October? Key Factors to Watch
Solana (SOL) is making headlines this October with its recent 4% rise, pushing the price past the $150 resistance to $154.59. Now, traders are closely monitoring the SOL as it moves toward the $160 resistance. A successful close above this level could trigger further bullish movements, with some experts even predicting that SOL could reach $180 by the end of the month.
Technically, Solana’s price chart is also showing strong bullish indicators: the Relative Strength Index (RSI) is approaching overbought levels, signaling continued interest and demand. Meanwhile, the Simple Moving Average (SMA) shows that Solana remains above the 20-week EMA, which is a clear sign of an ongoing uptrend.
Recent developments also boost Solana’s price movements: the Total Value Locked (TVL) in Solana’s DeFi ecosystem has surged to $5.4 billion, representing a 2,000% increase from its post-FTX days. Additionally, Solana’s growing dominance in DEX trading volume, surpassing Ethereum (ETH), reflects rising activity in its ecosystem. Thanks to these developments, even though SOL experienced a sharp dip to $142 mid-week before rebounding with strong momentum, it has climbed back over $154, showcasing impressive resilience in the past 7 days and marking consistent gains towards the weekend.
Solana's 7-day trading chart from CoinMarketCap, showing a dip before recovering and peaking above $154
However, Solana’s bullish sentiment isn’t new. Exactly one year ago, Solana surged from $22 to $120 in just a few months, reaching a 606% rise by October 2023. This demonstrated the token’s strong resilience and ability for rapid growth, especially as it overcame post-FTX uncertainties.
Recent developments are adding to this momentum: Standard Chartered analysts predict Solana could soar to $330 as it approaches 50% of Ethereum's valuation. Rumors of Apple building on Solana’s blockchain are also fueling excitement. Additionally, Ethena Labs is considering adding $100-$200 million of SOL to its USDe stablecoin, signaling growing confidence in the ecosystem. Despite on-chain concerns, like 86 million empty wallets, raising some questions about engagement, Solana’s overall trajectory remains positive.
Meanwhile, whales are also excited about what’s next for JetBolt (JBOLT), a crypto presale gaining remarkable momentum thanks to its impressive blockchain capabilities. As JetBolt’s presale heats up, it’s becoming clearer that both Solana and JetBolt are the tokens to watch this October.
