Solana

<p><em><strong>Solana is attracting more traders with increased activity and on-chain transactions, indicating growing interest. The price of SOL is aiming for a breakout above $140 as a result.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>After a slight dip, the Solana (SOL) price is gaining momentum again, aiming to surpass its important resistance level of $140. Currently, SOL is up by 7%, trading at $138, with a market cap of $61.4 billion. This is happening despite <a href="https://cryptosheadlines.com/binance-suspends-btc-withdrawals-due-to-bitcoin-network-congestion/" rel="noopener noreferrer nofollow">congestion issues on the Solana network due</a> to increased trading activity.</p><h3 id="surge-in-solana-dex-trading-volume">Surge in Solana DEX Trading Volume</h3><p>Recent data from DeFiLlama reveals a remarkable surge in Decentralized Exchange (DEX) trading volume on the Solana network from March 3 to March 6. For four consecutive days, trading volume exceeded $2 billion, reaching a record-breaking $2.85 billion on March 5 alone, marking a new single-day high.</p><p>This <a href="https://cryptosheadlines.com/shiba-inu-on-chain-activity-signals-price-surge-details/" rel="noopener noreferrer nofollow">surge in trading activity coincides with increased on-chain</a> transactions, potentially contributing to the current congestion experienced on the Solana network. The heightened activity also underscores growing interest and engagement within the <a href="https://cryptosheadlines.com/jito-releases-115-million-tokens-boosting-solana-ecosystem/" rel="noopener noreferrer nofollow">Solana ecosystem</a>.</p><p>Due to the network congestion, crypto exchange Binance announced its decision to temporarily suspend Solana withdrawals on Wednesday, March 6.</p><h3 id="analyzing-solana-s-price-trends">Analyzing Solana’s Price Trends</h3><p>Examining SOL’s price chart reveals a compelling narrative of a strong uptrend, characterized by consistent higher lows and higher highs—a bullish signal in market technical analysis. Additionally, the alignment of moving averages indicates sustained buying interest, with shorter-term averages surpassing longer-term ones, typically associated with ongoing <a href="https://cryptosheadlines.com/render-token-surges-as-bullish-sentiment-dominates/" rel="noopener noreferrer nofollow">bullish sentiment</a>.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>Currently trading around the $135 level, SOL faces immediate resistance. However, breaching this resistance could trigger a new rally. Conversely, support levels are identified near $115 and $104, historically acting as springboards for price rebounds. Recent upward <a href="https://cryptosheadlines.com/ethereum-classic-etc-price-surges-34-amid-increased-trading-volumes/" rel="noopener noreferrer nofollow">price movements have been accompanied by significant trading volume</a>, indicating active market participation and reinforcing a positive outlook.</p><p><a href="https://cryptosheadlines.com/best-cryptocurrency-to-purchase-with-100-currently/" rel="noopener noreferrer nofollow">Also Read:   Best Cryptocurrency to Purchase with $100 Currently</a></p><p>As the broader market undergoes a shift, Solana’s upward momentum becomes increasingly promising. Investors are seeking alternatives to Ethereum’s high gas fees and network congestion, and Solana’s scalability and cost-effectiveness make it an attractive option for developers and investors alike. This favorable positioning could lead to further <a href="https://cryptosheadlines.com/potential-for-dogecoin-doge-price-to-double-in-the-near-future/" rel="noopener noreferrer nofollow">price increases for Solana in the near future</a>.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Solana (SOL) Price Reaches $140 Despite Network Congestion

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