Solana has seen a fresh surge above $220, with the price now consolidating its gains. It appears that the bulls may be in a position to break through the critical resistance at $250.
Solana Price Rises, Approaching $250
After stabilizing above the $200 level, Solana began another upward trend. The price is currently trading above $225 and the 100-hour simple moving average. On the hourly chart of the SOL/USD pair, a bullish trend line is forming with support near $237.

Solana’s price reached as high as $248, encountering resistance before consolidating. It experienced a slight pullback below the $245 and $242 levels, halting around the 23.6% Fib retracement level between the $212 swing low and the $248 high.
Can Solana Break the $250 Level?
The price is currently facing resistance at the $245 level. Another key resistance lies at $248, with the major hurdle at $250. If the bulls manage to clear this level, Solana could gain significant momentum, targeting $265 or even $282.
Are Dips in SOL Supported?
If Solana fails to break above the $245 resistance, it could move lower. The key support is around $237, aligned with the trend line. Another strong support is at $230, corresponding to the 50% Fib retracement level.
A break below $230 could push the price back to $220. If the price closes below this level, it might drop further toward the $212 support zone in the near term.
Technical Indicators
Hourly MACD: The MACD for the SOL/USD pair is gaining momentum in the bullish zone.Hourly RSI: The RSI for SOL/USD remains above the 50 level, confirming bullish sentiment.Key Support Levels: $237 and $230.Key Resistance Levels: $245 and $250.

Summary: Solana is strongly supported by bulls and is well-positioned to break through the $250 mark. The key will be a sustained close above this level, which could pave the way for further growth toward $265 and beyond.

#Solana_Blockchain , #BULLishWithBULL , #SOLPriceAnalysis , #CryptoNews🚀🔥 , #Cryptocurrencies

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Solana's (SOL) price is poised to hit $300 amid favorable developments in the cryptocurrency market, driven by Bitcoin's record highs and the potential introduction of a spot ETF for SOL.
1. Technical Analysis Suggests a “God Candle” Rally for Solana
According to cryptocurrency trader Inmortal (@inmortalcrypto), Solana may experience a strong upward movement, referred to as a "God candle." SOL recently broke through a key resistance level at $211, which is a technical indicator of a bullish trend. This move could lead to a significant price increase. Another analyst, known as Moon, points out that SOL broke a symmetrical triangle pattern, considered a bullish signal. If the momentum continues, SOL’s price could rise to the $300 mark.
2. Strong Market Performance of Solana Compared to Ethereum
Over the past year, Solana has provided investors with a 188.42% return, while Ethereum increased by 39.03% in the same period. This growth has drawn investor interest and highlighted Solana’s competitiveness with Ethereum in the development of decentralized applications. Research from MV Capital shows that over 30% of institutional investors believe Solana will be one of the strongest assets in this market cycle due to its fast and scalable transactions.
3. Regulatory Changes Under the New U.S. Administration
The election of Donald Trump as president has brought new optimism to the cryptocurrency community. Trump has expressed positive views on cryptocurrencies and indicated support for digital innovation. The new administration could bring a more favorable regulatory environment, benefiting cryptocurrencies, including Solana. Many investors hope that a change in leadership could reduce regulatory uncertainty, encouraging further growth for SOL.
4. Anticipated Launch of a Spot ETF for Solana
The potential launch of a spot ETF for Solana in the United States could further support its price. A request for an ETF listing by VanEck and 21Shares is pending approval from the SEC. If there is a leadership change at the SEC and the ETF is approved, public access to Solana would become much easier. A spot ETF could attract new investors and increase institutional interest in SOL.
5. Solana Re-Listed on Robinhood Amid Growing Retail Interest
Robinhood has re-listed Solana (SOL) among available cryptocurrencies, responding to growing demand. Along with other cryptocurrencies like Cardano and XRP, SOL is now available on this popular retail platform, which could attract more investors. Robinhood Crypto's Vice President Johann Kerbrat expressed the company’s excitement about expanding its cryptocurrency offerings. This move could boost demand for Solana and positively impact its price.

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Solana excels Ethereum in terms of active users after a 70% surge.
Solana's Reign Begins!
#Solana dethrones #Ethereum as King of Active Users!
The number of daily active users on Solana has skyrocketed by 70%, officially surpassing Ethereum for the first time ever!
This is a monumental moment for Solana, solidifying its position as a leader in the blockchain space.
Here are some reasons why $SOL is surging:
⚡️ Blazing-fast transactions: Enjoy near-instantaneous transactions with Solana's incredible speed. ️
Low fees: Say goodbye to high gas fees and experience affordable transactions.
✨ Thriving ecosystem: Dive into a vibrant community of developers and projects building the future of finance.
Ethereum's Scaling Challenges: While Ethereum remains the dominant force in the crypto world, its scalability issues have long been a concern.
The network's congestion and high gas fees have created barriers for many users and stifled the growth of dApps.
The future is bright for #SOLPriceAnalysis
Are you ready to join the revolution?
Despite the recent milestone achieved by Solana, #EthereumEconomy remains a major player in the blockchain space and possesses significant potential to regain its leading position. Here are some steps Ethereum can take to improve its situation and address the challenges it currently faces:

$ETH can take to improve! Scaling Solutions:
Ethereum 2.0 (Eth2): This major upgrade implements sharding, a process that effectively divides the blockchain into smaller, more manageable pieces. This will significantly increase the network's transaction speed and capacity, addressing the current scalability issues.
Layer 2 scaling solutions: These are protocols built on top of the Ethereum blockchain that enable faster and cheaper transactions without compromising security. Examples include Optimistic Rollups and ZK-Rollups, which are already demonstrating promising results.
Fee Reduction:
EIP-1559: This Ethereum Improvement Proposal introduced a burning mechanism for a portion of the transaction fees, gradually reducing the overall amount of ETH in circulation and potentially leading to lower fees in the long run.
Dynamic Gas Fees: Implementing a system where gas fees automatically adjust based on network congestion could help mitigate spikes in fees and make the network more user-friendly.
Community Engagement:
Active communication: Regular updates and clear communication from the Ethereum Foundation and developers can foster trust and confidence among users and attract new participants to the ecosystem.
Collaboration with other projects: Working together with other blockchain projects and communities can drive innovation and create a more interconnected and interoperable ecosystem.
$JTO #BinanceTrends #BNB🔥

In the fortnight since Dec. 2, 2023, the stablecoin asset first digital usd (FDUSD) experienced a notable expansion, increasing its supply by 690 million coins. As of Dec. 17, 2023, this surge has elevated its market capitalization to a significant $1.61 billion. This period witnessed the U.S.-dollar-pegged token’s significant growth of 74.92%.FDUSD Supply Swells by 74% in 2 WeeksThe stablecoin FDUSD has experienced significant growth in the last two weeks, ascending to the position of the fifth-largest fiat-pegged cryptocurrency in the market. A significant portion of FDUSD’s market activity and onchain movements are concentrated on the centralized crypto exchange Binance.With a market capitalization of $1.61 billion, FDUSD ranks as the 46th largest among over 11,500 digital currencies. FDUSD’s etherscan contract indicates that as of December 17, FDUSD’s supply reached 1.611 billion, up 74.92% from 921 million FDUSD on December 2.In the last 24 hours, FDUSD has seen a substantial $2.2 billion in global trade volume, primarily driven by USDT and BTC pairs on Binance. In fact, an overwhelming 90.45% of FDUSD’s trading volume in this period originates from these two pairings on Binance.Additional exchanges like Gate.io, Bingx, Cryptology, and Tokocrypto also feature FDUSD pairs, albeit on a smaller scale. FDUSD’s supply distribution is notably concentrated compared to other leading stablecoins, with only 255 wallets holding FDUSD.Despite a high trade volume and numerous transactions, FDUSD’s activity is predominantly off-chain, reflected in its modest count of 1,771 transactions. The top three wallets holding FDUSD are under Binance’s control, with the largest wallet containing 1.533 billion FDUSD, amounting to 95.1450% of the total supply.Furthermore, the second wallet utilized by Binance holds 4.3751% of the FDUSD supply, indicating Binance’s significant control over FDUSD. Binance, the largest cryptocurrency exchange by trade volume, also possesses a substantial portion of TUSD, with 2.17 billion coins out of TUSD’s circulating 2.43 billion.This control extends to 21.54% of the tether (USDT) supply, and Binance dominates the fourth and fifth largest stablecoins. Beyond this, Binance maintains a majority hold over the 1.2 billion BUSD stablecoins in circulation, commanding the two largest BUSD addresses.#FollowUsNow #USDT #BTC #SOLPriceAnalysis #BinanceTournament $FDUSD

The CEO of Ark Invest has made an extremely bullish statement about Solana (SOL) amid a notable upsurge in the asset’s price.
Cathie Wood, the CEO of Ark Invest, a leading investment management firm, seems to have stirred up the altcoin market, particularly igniting SOL bulls to kick off a bullish rally.
In a recent interview with CNBC Squawk Box, interviewers posed a question centring on Bitcoin’s dominance in the cryptocurrency and blockchain markets. The interviewer was curious to know if there are any alternative blockchain applications, other than Bitcoin, that the firm is currently focused on.
In response, Wood asserted that Ethereum (ETHER) and Solana (SOL) are some of the most promising networks in the market. ARK Invest is already focusing on Ether and its position in the market as a leader in smart contract adoption and Decentralized Finance (DeFi). 
However, Wood is even more convinced that Solana is outpacing Ethereum as a blockchain network with its structural advantages. 
“There are infrastructure players,” she remarked. “Solana is doing a really good job. If you look, Ether was faster and cheaper than Bitcoin back in the day; that’s how we got Ether. Solana is even faster and more cost-effective than Ether. So there is infrastructure at play. We do believe Web3 digital assets are big ideas.” She asserted. 
Solana (SOL) has since surged following super-positive developments. SOL saw a 12% increase in its daily gains as market sentiments have become even more bullish as bulls eagerly look forward to a $100 price point. At report time, SOL is trading for $62.
Notably, SOL is the highest-performing altcoin within the top 10 category, with monthly and weekly gains sitting at 187% and 46%, respectively. Market cap and trading volume are also in the green zone. 
Meanwhile, Wood remains just as bullish on Bitcoin as in previous times. Pushing back on the narrative that a “Bitcoin 2.0” might be in the works, she explained that market players have already tried and failed.
Although it was noted that a handful of traditional investors are still yet to grasp the concept of Bitcoin fully, Wood insists that the Bitcoin network has revolutionized the concept of money.
As she further explained,
“I think most people understand that Bitcoin is the money revolution. This is the first global, private, digital-rules-based monetary system in history.”
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#SOLPriceAnalysis #Solana📈🚀🌐 $SOL