$SOL Eyes Breakout - Will SOL Surge to $220?

The Solana price has fallen by 4.83% in the last 24 hours, but SOL is up over the week. According to analysts, SOL has entered into a symmetrical triangle that could lead to a breakout soon, while the trading volume was up 33% in the last day.

This would also mean that if the token were to break above resistance now, then it could head all the way up to $220, which would provide a 53.28% potential rise from present levels.

Traders are, therefore, closely watching the potential of this breakout, awaiting confirmation of an upward rally.

Due to the outbreak of NFT hype and increased demand in the DeFi community, Solana price more than tripled throughout Summer 2021.

That growth came off by the end of 2022, with SOL changing hands for $152.62 on September 30, 2024, roughly at the same valuation as it was at the beginning of 2021. The fall of crypto trader FTX in 2022 seriously dented the token, as FTX and sister company Alameda Research sold a ton of the cryptocurrency to avoid bankruptcy. One wallet affiliated with FTX/Alameda recently redeemed $23.75 million in SOL from the Proof-of-Stake network

#BitwiseFilesXRPETF #BTCUptober #EIGENonBinance #BTCPredictedNewATH #IranianMissilesPlummetsBTC