2024

Solana

Bitcoin

Sherpa

Vortex

<p>The post <a href="https://coinpedia.org/news/solana-price-analysis-how-low-volatility-sets-the-stage-for-a-bullish-breakout/" rel="noopener noreferrer nofollow">Solana Price Analysis: How Low Volatility Sets the Stage for a Bullish Breakout</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Amid the ongoing back-and-forth movement in the crypto industry, <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL) price</a> continues to consolidate in a horizontal pattern, which is less interesting to leveraged traders but crucial for hodlers. The low volatility registered by Solana price in the past few months has given buyers a chance to accumulate more coins.</p>
<p>Furthermore, a gradual shift in demand from Bitcoin to altcoins signals an inevitable altseason in the near term. As a result, most investors are closely monitoring the weekly <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin dominance</a> in anticipation of a reversal, which will signal the onset of the parabolic altseason.</p>
<h2 class="wp-block-heading" id="h-institutions-bet-on-solana-network-nbsp">Institutions Bet on Solana Network&nbsp;</h2>
<p>Apart from Ethereum, the Solana network has been a favorite among more institutional investors seeking to tokenize real-world assets (RWA). Earlier today at the&nbsp;<a href="https://x.com/solana/status/1828779945663005039?s=46" target="_blank" rel="noopener noreferrer nofollow">Global Fintech Fest,</a>&nbsp;Nandan Nilekani, co-founder of Infosys, presented a demo on the Solana network of the Finternet project, a user-centric global financial infrastructure tokenizing any asset on a unified ledger.</p>
<p>On Tuesday, Robinhood Wallet announced the integration with the Solana network to enable its customers to self custody SOL and its based tokens. Meanwhile, PayPal’s PYUSD recently surpassed a market cap of $1 billion, with 64 percent of the market share on the Solana network.</p>
<p>The Solana’s web3 activity has significantly grown in the recent past to a total value locked of over $5.1 billion and a stablecoins market cap of around $4 billion. The meme coins on the Solana network have a market cap of about $6.5 billion and a daily average traded volume of around $1.7 billion.&nbsp;</p>
<h2 class="wp-block-heading" id="h-crucial-midterm-targets-for-sol-nbsp">Crucial Midterm Targets for SOL&nbsp;</h2>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> I think that $135-140 should bounce.<br><br>All the morons say 'so it could go up or down' after a break of $165 but they don't trade. <br><br>A break of 165 would mean price prob goes to 190 in the short term. I still think 120-150 is a good place to accumulate SOL personally <a href="https://t.co/Xqp2TWriMy" rel="noopener noreferrer nofollow">pic.twitter.com/Xqp2TWriMy</a></p>— Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1828752316998222198?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 28, 2024</a>
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<p>After Solana price was rejected at the resistance level of around $163, the large-cap altcoin, with a market cap of about $69 billion and a daily average traded volume of around $4 billion, has been trapped in a correction mode.&nbsp;</p>
<p>As of this writing, SOL price had dropped around 5 percent in the past 24 hours to trade about $146. According to crypto trader alias Altcoin Sherpa, SOL price will continue to consolidate between $120 and $150 before an inevitable bullish breakout in the near term.</p>
<p>Also Read: <a href="https://coinpedia.org/news/bitcoin-mining-firm-vortex-bets-big-on-microstrategy-stock-is-this-the-next-bitcoin-boom/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Mining Firm Vortex Bets Big on MicroStrategy Stock—Is This the Next Bitcoin Boom?</a></p>

Solana Price Analysis: How Low Volatility Sets the Stage for a Bullish Breakout

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