Token

Rally

Solana

Resistance

Neon EVM

<p>Ali, a crypto analyst, <a href="https://twitter.com/ali_charts/status/1732750392050500060" target="_blank" rel="noopener noreferrer nofollow">shares insights</a> about Solana’s current price action in a tweet. He highlights that Solana (SOL) is approaching the apex of an ascending triangle pattern on its 12-hour chart. While this pattern suggests further gains for SOL, caution is advised.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="546" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-1024x546.png" alt="" class="wp-image-393437" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-1024x546.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-300x160.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-767x409.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-1536x819.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-2048x1092.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-281x150.png 281w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-656x350.png 656w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165-788x420.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-165.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Ali mentions that a sustained close above the resistance level at $68.2 could trigger a bullish breakout, potentially pushing SOL towards $90. However, he cautions about the importance of the support level at $60. Any signs of weakness around this level could lead to profit-taking and a potential drop in SOL’s price to $47.</p>
<h2 class="wp-block-heading" id="the-bullish-case-for-sol-in-2024">The Bullish Case for SOL in 2024</h2>
<p>In a video titled <em>“Solana Is About To Go F*cking Crazy In 2024”</em> by Lark Davis, several key factors are discussed that could contribute to Solana’s significant growth in 2024. Let’s delve into these factors and the quotes from the video:</p>
<p>Investor Confidence and Network Activity: Solana has garnered the trust of influential investors, and despite past network outages, the recent doubling of total value locked (TVL) suggests restored investor confidence. Davis states, “Solana is still here, and for Solana holders, a lot has happened, but is it enough to restore investor trust? Well, it just might be.”</p>
<p>Staking and Liquid Staking Tokens: Platforms like Marinade Finance and Gito offer liquid staking tokens, which provide a prominent use case for Solana. This feature allows users to stake SOL and utilize the liquid staked token for other activities, enhancing the utility of the network.</p>
<p>Growing On-Chain Activity: The increasing number of active addresses and the rising value being moved on-chain indicate a surge in network activity. Additionally, USDC transfers on Solana have reached an all-time high, pointing to increased usage and adoption.</p>
<p>Pith Network and Airdrops: The development of Pith Network, Solana’s decentralized oracle solution, has brought significant advancements. It has introduced a unique airdrop strategy that rewards users for activities outside the Solana network, attracting new participants to the ecosystem.</p>
<p>Neon Ethereum Virtual Machine (EVM): The Neon EVM project enables interoperability between Ethereum and EVM-compatible chains on Solana. This integration supports transactions using SOL, USDC, and USDT, enhancing Solana’s overall utility.</p>
<figure class="wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"><iframe loading="lazy" title="Solana Is About To Go F*cking Crazy In 2024" width="840" height="473" src="https://www.youtube.com/embed/PqFOUHpt3P0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
 </div>
</figure>
<h2 class="wp-block-heading" id="strong-fire-dancer-upgrade-and-token-22-project-strong"><strong>Fire Dancer Upgrade and Token 22 Project</strong></h2>
<p>Fire Dancer Upgrade: Developed by Jump Crypto, the Fire Dancer upgrade aims to enhance network efficiency and increase transactions per second to over 1 million. Davis explains, “Fire Dancer will add an entirely new independent validator set for Solana, increasing network efficiency and the number of transactions per second to over 1 million.”</p>
<p>Token 22 Project: The Token 22 project seeks to introduce enterprise-friendly features to Solana by establishing a regulated token standard. This will enable private transactions and business-focused interactions within a regulated environment.</p>
<h2 class="wp-block-heading" id="strong-strategic-partnerships-and-price-potential-strong"><strong>Strategic Partnerships and Price Potential</strong></h2>
<p>Partnerships and Integrations: Solana has formed significant partnerships, including collaborations with Grayscale, Shopify, and Epic Games. Notably, the integration with Shopify holds promise for web3 payment integration and wider adoption.</p>
<p>Price Movement and Future Potential: Solana has witnessed a substantial price increase, and there is optimism regarding its future price potential. A report by Vanek asset managers even suggests a possible price of $3,200 per SOL by 2030.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/bitcoin-btc-skyrocketed-the-last-three-times-this-bullish-signal-appeared/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Skyrocketed The Last Three Times This Bullish Signal Appeared</a></li>
 <li><a href="https://captainaltcoin.com/solana-loses-uptrend-analyst-warns-failure-to-hold-support-could-result-in-sol-falling-to-this-price/" target="_blank" rel="noopener noreferrer nofollow">Solana Loses Uptrend; Analyst Warns Failure to Hold Support Could Result in SOL Falling to This Price</a></li>
 <li><a href="https://captainaltcoin.com/end-of-year-crypto-boom-mantle-filecoin-and-rebel-satoshi-poised-for-growth/" target="_blank" rel="noopener noreferrer nofollow">End-of-Year Crypto Boom: Mantle, Filecoin, and Rebel Satoshi Poised for Growth</a></li>
</ul>
<h2 class="wp-block-heading" id="strong-final-thoughts-solana-s-outlook-strong"><strong>Final Thoughts: Solana’s Outlook</strong></h2>
<p>Despite the challenges faced, Solana is regarded as a resilient and innovative network with notable developments and partnerships. These factors position Solana as a network to be closely monitored for its potential growth in the coming years. As Lark Davis concludes, “Solana is about to go f*cking crazy in 2024.”</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/solana-to-rally-50-if-this-resistance-breaks-why-sol-will-spike-massively-in-2024/" rel="noopener noreferrer nofollow">Solana to Rally 50% If This Resistance Breaks: Why SOL Will Spike Massively in 2024</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana to Rally 50% If This Resistance Breaks: Why SOL Will Spike Massively in 2024

Table of Contents

CaptainAltcoin

Other articles published on Dec 7, 2023

BNB Chain launches DAU Incentive Program, Offering Monthly Prizes Up to $200K (7 Dec)

Court Accepts Former Binance CEO CZ’s Guilty Plea; What Next?

Solana Eyes Breaking Above $65.9 Level as Bulls Striving Hard

Florida Governor Ron DeSantis Says CBDC is a Direct Threat to Personal Freedom

A startup has developed a home heater that mines Bitcoin

South Korean Crypto Exchange Upbit Lists Altcoin AXL

Join our free newsletter for daily crypto updates!