The cryptocurrency market remains on an upward trajectory, buoyed by strong bullish sentiment following Donald Trump's U.S. presidential election victory last month. Bitcoin ($BTC ), the market leader, recently reached an unprecedented high of $108,000, setting the tone for other digital assets. Among these, Solana ($SOL ) has distinguished itself as a standout performer, posting a remarkable 45% gain over the last 60 days.

As of today, Solana continues its upward trend, registering a 3% increase in value and trading at $227. The token's market capitalization now exceeds $109 billion, underscoring its growing prominence within the crypto ecosystem. This robust momentum, coupled with a significant technical chart pattern, indicates the possibility of a major breakout in the near term.

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Technical Outlook: A Key Breakout on the Horizon

Solana recently reached a local high of $264 on November 22 before entering a period of correction. Since then, it has traded within a descending triangle pattern—a formation often indicative of a forthcoming breakout.

Currently, SOL has rebounded strongly from the triangle’s lower support levels and is approaching its descending resistance line. It is also nearing a critical horizontal resistance level at $228.75.

Should Solana breach this resistance zone and confirm a breakout above $228.75, the token could target the following key levels:

$235 as an immediate resistance.

$243 as the next level to watch.

A successful move past these barriers could drive SOL toward its recent high of $264, representing an additional 16% upside from its current price.

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Potential for Further Gains

The broader altcoin market is also showing signs of strength, with notable projects such as XRP and $XLM achieving significant breakouts. If Solana follows suit and breaks through its immediate resistance levels, further gains could be in store.

The technical setup appears favorable, supported by strengthening momentum indicators. Moreover, the bullish sentiment across the cryptocurrency market, coupled with improving investor confidence, enhances Solana’s prospects as a top-performing altcoin in the near term.

With its solid technical foundation and strong market momentum, Solana is positioning itself as a key contender for explosive growth in the coming sessions. Investors and traders alike should closely monitor its price action as it approaches this pivotal juncture.

[ This week in crypto saw several key developments, including the XRP Ledger being listed on Dexscreener, a platform for decentralized trading insights. Meanwhile, Bitcoin ETFs experienced outflows of $438 million, led by Bitwise's BITB and Grayscale's GBTC. In other news, Morocco is drafting a law to regulate and legalize cryptocurrencies, and Solana hit a record 54 million daily transactions. Additionally, Coinbase's Base network reached a daily transaction count of 9.1 million, and Phantom added support for the network. Other notable developments include Donald Trump's reported $5.4 million crypto holdings, mostly in Ethereum, and Justin Sun's $30 million investment in World Liberty Financial, a DeFi project linked to Trump's family. ]

We have some of the top crypto things you might have missed during Thanksgiving week!
The XRP Ledger (or XRPL) just got listed on Dexscreener, a top platform for decentralized trading insights. This move makes it easier for traders to track and analyze XRPL, plus, they now get to trade XRP memecoins.

Most of the crypto market was down earlier this week, and it could be due to the streak of inflows for spot Bitcoin ETFs coming to an end with $438 million in outflows on Monday. Key players like Bitwise’s BITB and Grayscale’s GBTC led the withdrawals, while BlackRock’s IBIT had positive flows with $267.8 million in inflows. Despite the dip to $94,500, Bitcoin trading volume reached $5.6 billion.

Donald Trump is reportedly holding $5.4 million in crypto, mostly Ethereum. And Tron founder Justin Sun is making headlines again, this time with a $30 million investment in World Liberty Financial, Trump’s family DeFi project.

Morocco is rewriting its crypto rules. After banning crypto in 2017, the country is now drafting a law to regulate them and make them legal. This comes at a time when the central bank is exploring a potential CBDC.

Some bullish news for SOL now, with Solana hitting a record 54 million daily transactions. Coinbase’s Base network isn’t far behind, clocking in at 9.1 million daily transactions. (30x growth since January!)
Pump dot fun’s livestream feature was temporarily deactivated following backlash due to certain streams. In a statement, the platform said streams will be unavailable until the moderation infrastructure is ready to deal with the heightened levels of activity.
Phantom just added support for Coinbase’s Layer 2 network, Base (I love this.) Plus, the daily transaction count on Base recently reached an all-time high of 9.1 million. The daily transaction count is up 30x from January 2024.

Avalanche just launched its biggest testnet upgrade yet, Avalanche9000. With lower deployment costs for devs and up to $40 million in rewards. And lastly, Chainlink released a new report which shows that it is continuing to power DeFi with its tech driving tokenized assets like real estate and Ethereum ETFs.

#BTC☀ #ThanksgivingBTCMoves #Solana_Blockchain #SolETFApproved
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Disclaimer: Please conduct thorough research or consult with a financial advisor before making any investment decisions.
Overview
Solana ( $SOL ) has been experiencing a period of consolidation, trading within a defined range. The recent price action suggests potential for further movement, but it's essential to consider both bullish and bearish scenarios.
Key Observations

Current Price: SOL is currently trading around $241.55.Recent Trend: The price has been consolidating in a range between $216.50 and $264.39.Support and Resistance: The $216.50 level has acted as strong support in the past.The $264.39 level has served as resistance, capping upward momentum.
Possible Scenarios

Bullish Scenario: A breakout above the $264.39 resistance could trigger a significant upward move. Bearish Scenario: A breakdown below the $216.50 support could lead to further downside.
Trading Strategies

Range-Bound Trading: Traders can employ strategies like buying at the support level and selling at the resistance level.Breakout Trading: If a clear breakout occurs, traders can capitalize on the potential trend continuation.Stop-Loss Orders: Implementing stop-loss orders is crucial to manage risk and limit potential losses.

$BTC $BNB #solonapumping #SolanaUSTD #Solana_Blockchain #BTCBreaking100KAgain? #SolETFApproved