Solana

Cryptocurrency markets roared back to life this Wednesday, with Bitcoin (BTC) flirting with an 18-month high, nearly hitting $38,000. This is a big leap from its <a href="https://cryptodaily.co.uk/2023/11/as-economic-currents-shift-bitcoin-btc-and-ethereum-eth-locked-in-a-close-battle" rel="noopener noreferrer nofollow">brief tumble</a> below $35,000 just a day before. Ether (ETH) wasn’t far behind, climbing over 3% to just about $2,060. It&#39;s like the market shook off its blues, shrugging off yesterday&#39;s lows and strutting past the $2,000 mark again.Now, let&#39;s talk about Solana (SOL) that made a splash with a double-digit gain, soaring past the $65 mark today. That’s a number it hasn’t danced with since May last year. The trading volume spiked to a whopping $4 billion, which is over 90% higher than what it was at the start of November. It seems like investors are really warming up to SOL, making it the altcoin to watch right now.Then there&#39;s <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;SOL" rel="noopener noreferrer nofollow">ScapesMania</a> (MANIA) that is stirring up the crypto world. This project stands out for its transparency and relatable vibe, while the team&#39;s publicly accessible social media profiles add a personal touch. Beyond its commitment to openness, MANIA is smartly balancing community engagement with savvy tokenomics. This blend of innovation and accessibility is sparking intrigue, making many wonder if it&#39;s poised to be the next big breakthrough in the crypto landscape.ScapesMania: Your Ticket To Revolutionary ReturnsWhile some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project&#39;s appeal.<h2 id="header-0">Presale is Live Now - Join Now for a Chance to Benefit with MANIA</h2>Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.<a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;SOL" rel="noopener noreferrer nofollow">Presale is Live, Learn More About Major Benefits</a>Solana (SOL): A New Era Of Price Discovery?Now Solana (SOL) shows off its resilience and impressive growth, trading in a sweet spot between $57.87 and $68.62. This is pretty remarkable when you think about how the rest of the market, including Bitcoin, has been doing the hokey-pokey with their prices. What&#39;s really got people talking is how SOL soared to an 18-month high, especially after the whole drama with <a href="https://cryptodaily.co.uk/2023/11/jury-declares-sbf-guilty-on-all-charges-of-fraud-and-money-laundering" rel="noopener noreferrer nofollow">Sam Bankman-Fried’s trial</a> and the <a href="https://cryptodaily.co.uk/2023/11/solana-sol-surges-forward-yet-potential-remains-untapped" rel="noopener noreferrer nofollow">FTX saga</a>. It&#39;s like Solana (SOL) just brushed off the dust and surged ahead. The revamp in the SOL ecosystem, including <a href="https://twitter.com/BitMEXResearch/status/1723332225716867541?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1723332225716867541%7Ctwgr%5Eac6d0eb1faa761bc183c29d33f7aaf9f471f46b7%7Ctwcon%5Es1_c10&amp;ref_url&#61;https%3A%2F%2Fwww.coindesk.com%2Fbusiness%2F2023%2F11%2F13%2Fgrayscales-solana-trust-trades-at-869-premium-as-institutions-flock-to-sol%2F" rel="noopener noreferrer nofollow">increased adoption by Grayscale Trust</a>, has significantly contributed to its current market position.<h2 id="header-1">Solana (SOL) Technical Analysis</h2>Technically, the current trading activity of Solana (SOL) is hovering close to multiple significant levels: the 1-month, 13-week, and 52-week highs, all converging around $68.14. This clustering of highs around $68.14 reinforces the $68.62 resistance level as a critical point to watch.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/bebb99e9e95d4eae9ffcaa7e7286e8d7.png" />Source: <a href="https://www.tradingview.com/chart/3rzIBxxK/?symbol&#61;COINBASE%3ASOLUSD" rel="noopener noreferrer nofollow">TradingView</a>The 3-10 day MACD oscillator stalling at $74.7 could indicate a potential slowdown in upward momentum as it approaches higher resistance levels. However, the substantial 50% increase in the past week and a staggering 174% rise over the past month reflect strong bullish sentiment.The protocol&#39;s performance, coupled with the Ark Invest CEO Cathie Wood&#39;s <a href="https://www.cnbc.com/2023/11/15/solana-surges-amid-altcoin-rally-nearly-triples-its-price-over-the-past-month.html" rel="noopener noreferrer nofollow">endorsement of Solana (SOL)</a> as a technically superior option compared to Ethereum, suggests that the coin is now entering a phase of price discovery. This phase aims to recoup the significant 75% loss from its all-time high of $260, presenting a window for potential growth.<a href="https://cryptodaily.co.uk/2023/11/renowned-ark-invest-analyst-places-high-bets-on-solana-raises-questions-on-dogecoin-and-meme-moguls-mgls-future" rel="noopener noreferrer nofollow">Chris Burniske&#39;s recent post</a> further fuels this outlook, likening the current trajectory of SOL to the rise of ETH from skepticism to mainstream acceptance, hinting that a shift in market perception towards recognizing Solana (SOL) as a significant player in the crypto space.<h2 id="header-2">Solana (SOL) Price Forecast</h2>From a bullish perspective, if SOL successfully breaches the first resistance level at $68.62, the pathway towards tackling the second and third resistance levels at $72.86 and $79.36 seems plausible, especially with the current momentum.On the flip side, a bearish scenario could see Solana (SOL) retreating towards its first support point at $57.87. If this level fails to hold, further dips towards the second and third support levels at $51.37 and $47.13 could materialize, especially if external market pressures, such as the potential impact of FTX asset liquidation, come into play.Despite this, the overall market sentiment and the altcoin&#39;s robust ecosystem development suggest that Solana (SOL) might still have its biggest gains ahead this year.ConclusionSolana (SOL) is shaking things up in the crypto scene. In a market that’s been like a roller coaster, SOL isn&#39;t just hanging on, but even climbing to new heights. It&#39;s not every day you see a crypto token turn heads like this, especially with finance bigwigs starting to take notice. With its knack for bouncing back and drawing in investors, Solana (SOL) isn’t playing the game – it&#39;s changing it.Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.RELATED TOPICS: <a href="https://cryptodaily.co.uk/tag/altcoins" rel="noopener noreferrer nofollow">#ALTCOINS</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a>

Solana (SOL) Upholds Its Reign Amid Crypto Unrest, But Are Its Greatest Gains Ahead?

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