Breakpoint conference may boost Solana

The greatest daily active address increase was on Solana.

SOL usually rallies before Solana Breakpoint.
SOL might reach $163 if it stays above $136 resistance.

Tuesday saw Solana (SOL) rise 0.5% due to strong network daily active address increase. Around the Solana Breakpoint conference, investors expect a rise.

SOL must improve other KPIs to match pre-Breakpoint growth.
With ten days till the Solana Breakpoint annual conference, network activity is high. Artemis data shows that Solana had its biggest single-day DAA increase on Tuesday, adding over 5.4 million additional addresses.

Solana's daily transactions rose 22% to 40.3 million between September 8 and 9. This continuous rise may help Solana's network fees recover from August's decline.

Network costs were $595K before the meme currency craze in March. The volume of Solana's DEX trade fell by almost 27% in August.

As the Breakpoint conference approaches, Solana network costs and DEX trading volume may boost SOL in the coming weeks. The 2024 Solana Breakpoint conference is September 20–21.

SOL has traditionally risen two weeks before Solana Breakpoint, according to expert @ali_charts. He said that SOL rose 35% in 2021 and 2022 and 60% in 2023 before the summit. Thus, investors must wait for a price hike in the next days.

Projects often disclose products at such conferences, which might be optimistic. Thus, Solana tokens may also be worth monitoring.

Additionally, industry gatherings are typically used as sell-the-news events, which may lower critical project prices.

SOL may rise above critical resistance.
SOL is trying to remain above a significant rectangle's resistance around $136 on the 4-hour chart. A prolonged advance over this level might push SOL above $163. SOL may fall below $120 if it fails to trade over $136.


The 200-day Simple Moving Average (SMA) may stop SOL from rising higher. Bullish momentum is indicated by the RSI over 60.

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