Solana

Time

<ul>
 <li><strong>Solana (SOL) breaches the $26 resistance, reaching a three-month high at $27.3.</strong></li>
 <li><strong>SOL surges 7% in a day, part of a 28% weekly gain, solidifying its status as a top performer, up 182% YTD.</strong></li>
</ul>
<p class="has-medium-font-size">In a nod to the Uptober tradition, Solana (SOL) has witnessed a substantial resurgence, with its price making a <a href="https://thenewscrypto.com/solana-price-skyrockets-as-bulls-dominate-further-surge-likely/" target="_blank" rel="noopener noreferrer nofollow">notable rebound</a> from the $26 threshold. Today, SOL has soared by an additional 7%, hitting a three-month high at $28.13. This significant performance continues to set Solana apart from the rest of the cryptocurrency market, defying concerns about a potential fire sale by the beleaguered crypto exchange FTX.</p>
<p>Solana is swiftly emerging as a major sensation in the world of altcoins, fueled by its remarkable price action. The digital currency is on a parabolic run, currently trading at $28.13 on spot exchanges, marking a remarkable 28% increase over the past week and 42% in a month. In contrast, the second-largest cryptocurrency, Ethereum, is currently grappling with <a href="https://thenewscrypto.com/ethereum-faces-bearish-pressure-amidst-market-volatility/" target="_blank" rel="noopener noreferrer nofollow">bearish pressure</a>.</p>
<h3 class="wp-block-heading" id="h-can-solana-sol-maintain-its-bullish-momentum">Can Solana (SOL) Maintain Its Bullish Momentum?</h3>
<p>Today’s gains are a testament to SOL’s remarkable comeback as one of the best-performing digital assets this year, <a href="https://thenewscrypto.com/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">boasting</a> an 182% year-to-date increase. This resurgence comes after Solana’s future appeared uncertain at the end of 2022 following the high-profile fall of Sam Bankman-Fried.</p>
<p>Adding to the intrigue, a U.S. bankruptcy court recently granted permission to the FTX-Alameda estate to liquidate its substantial <a href="https://thenewscrypto.com/solana-price-shows-signs-of-recovery-post-latest-ftx-move/" target="_blank" rel="noopener noreferrer nofollow">crypto holdings</a>, which included a Solana stash valued at $1.16 billion as of late August. This development had raised concerns about the possibility of a mass sell-off of SOL tokens in the market.</p>
<p>Despite this, the Solana blockchain has been experiencing a surge in network activity over the past few weeks, indicating increased interest and utilization of the platform.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="545" src="https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-1024x545.png" alt="" class="wp-image-84299" srcset="https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-1024x545.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-300x160.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-768x408.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-1536x817.png 1536w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL-150x80.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/10/SOL.png 1553w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>Solana (SOL) Price Chart (Source: TradingView</em>)
  </figcaption>
 </figure>
</div>
<p>At the time of writing, Solana is trading at $26.83, and it appears poised to capitalize on its current momentum, potentially setting a course for the $30 resistance level. If this trend persists, SOL may see further surges, reaching $32, $35, and possibly even $38. However, if the trend falters, Solana’s price may experience a dip to $25.5 and $23, and in a more bearish scenario, down to $21.</p>

Solana (SOL) Shines with a 3-Months High While ETH Struggles. Time to Buy?

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