$SOL , like Bitcoin, Ethereum and other top altcoins, is experiencing significant selling pressure. The $160 level has become a local resistance that the bulls have not yet been able to overcome. Despite the growth in September, the price has not risen above this mark.
Interestingly, Solana has raised over $800 million in net capital in the last three months, significantly outpacing other blockchains including Ethereum layer-2 blockchains such as $OP Mainnet and #Starknet . At the same time, #Ethereum has lost nearly $800 million, which may be due to high fees and the sale of $ETH in Q3 2024.
#Solana , with high scalability and low fees, attracts more projects. However, to continue the growth, it needs to overcome the resistance at $160. Further growth can lead to reaching $190, but much will depend on the overall state of the market and future token sales.
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