Solana Hits New High? Key Indicators Suggest SOL May Experience Bitcoin-like Surge!

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Short-term risk signals release upward potential

The price of Solana (SOL) has recently shown a rebound trend synchronized with its risk index. The historical low points of this index typically mark the bottom of market risk aversion sentiment, followed by significant price increases. Based on historical data, the current trend of SOL may indicate the arrival of a new upward cycle.

Copying Bitcoin's pattern, SOL may aim for historical new highs

Analysis shows that Solana's price behavior is mimicking Bitcoin's movement in early 2024. At that time, BTC soared from $47,080 to $74,000, driven by strong buying at key support levels that propelled it to new historical highs. Similarly, Solana has recently rebounded at the key support level of $193.84, a level that was previously a historical resistance and has now become new support. If this pattern continues, SOL is expected to break through the key resistance level of $248.44 and may further climb to $328.98 or even higher.

DEX trading volume dominates, consolidating market position

In terms of trading volume on decentralized exchanges (DEX), Solana once again takes the lead, surpassing $100 billion for a consecutive month, far exceeding Ethereum's $77.201 billion and other platforms like Base and BSC. This not only showcases Solana's market competitiveness but also indicates that it may receive more capital inflow during the altcoin season, further enhancing its market position.

Altcoin season approaching, SOL may face a full breakout

As the total market capitalization of altcoins approaches $3.36 trillion, interest in altcoins has significantly increased, and Solana is expected to be the biggest beneficiary of this trend. If market sentiment remains high, it is anticipated that in the first quarter of 2025, SOL may break through historical highs and reach new price peaks.

Focus on SOL's upward window

The current market conditions provide Solana with an ideal upward environment. Investors need to closely monitor its price trends and market movements, as SOL not only has the potential to replicate Bitcoin's success but can also dominate in the upcoming altcoin rebound.

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