The cryptocurrency market is currently experiencing a bull run, with Solana-based altcoins gaining attention for their impressive price surges, particularly SOL, Solana’s native token.
SOL has seen a price surge of over 12% in the past 24 hours, trading near $243 and approaching its all-time high. The coin has gained over 35% in just four days, with trading volume increasing by 170% due to heightened participation from traders and investors.
The recent breakout and market optimism surrounding President-elect Donald Trump’s pro-crypto stance are believed to be driving SOL’s momentum.
Expert technical analysis suggests that SOL has broken out from a bullish double-bottom pattern and is approaching a mild resistance level at $245. With the current market sentiment, it is likely that SOL could reach a new all-time high soon.
Despite the strong upward momentum, SOL’s Relative Strength Index (RSI) remains below the overbought zone, indicating further potential for growth.
The bullish trend of SOL is also influencing other Solana-based tokens like TRUMP, JUP, RAY, and BONK, which have experienced significant price surges. However, tokens like WIF and POPCAT are struggling to gain attention, emphasizing the importance of bullish price action and trader interest.
Overall, Solana-based altcoins are outperforming major assets like Bitcoin, Ethereum, and XRP, demonstrating the growing interest in this sector of the cryptocurrency market.
