Ethereum

bullish

Solana

Bitcoin

<p>As Bitcoin remains volatile near the $67k level, Solana makes a comeback with its growing influence in the decentralized market. With Solana surpassing Ethereum in daily DEX volumes, the SOL price skyrockets.&nbsp;</p>   
<p>Will Solana’s bullish trend and improving stance in the DEX market result in a price jump above $200? Find out more in this Solana price analysis.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-solana-sol-price-performance">Solana (SOL) Price Performance</h2>   
<p>With a bullish recovery over the weekends, the SOL price increased by ~8% resulting in two consecutive bullish candles. This undermined the 7% drop on Friday and challenged the $177 ceiling. However, the bullish failure leads to an intraday drop of 1.78% leading to the current Solana price of $173.</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/10/28122646/GTW19tqj-1024x511.png" alt="SOL price chart" class="wp-image-373162">
</figure>   
<p><a href="https://www.tradingview.com/x/GTW19tqj/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>As the trendline breakout rally takes a stop near $177, the chances of a sideways extension above $164 increase. However, the 4-hour chart warns of a severe bearish outcome.</p>   
<h2 class="wp-block-heading" id="h-solana-s-rising-channel-price">Solana's Rising Channel Price </h2>   
<p>In the 4-hour chart, the bullish trend in SOL prices formed a rising channel pattern to surpass the $175 level. However, the bullish trend fails to another higher high formation and warns of a double top reversal from the $177 ceiling.&nbsp;</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/10/28122653/PE3ZzTlz-1024x511.png" alt="SOL price chart" class="wp-image-373163">
</figure>   
<p><a href="https://www.tradingview.com/x/PE3ZzTlz/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Currently, the SOL price action makes triple consecutive bearish candles in the 4-hour chart. This marks the triple black crow pattern, a strong bearish reversal signal.&nbsp;</p>   
<p>The neckline of the double top stands at $164, with two supports (50 EMA and the rising trendline) acting as defense lines. The bears must crack down on the rising trendline for the double-bottom completion. This will increase the chances of downfall and limit the chances of sideways extension.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-solana-s-weekly-dex-outperforms-ethereum">Solana’s Weekly DEX Outperforms Ethereum</h2>   
<p>As Solana’s performance in the decentralized market improves, the volume of its DEXs is on the rise. Further, the weekly DEX volume dominance over all chains hits an all-time high of 35%.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/SolanaFloor/status/1850756994589749523 
 </div>
</figure>   
<p>Among the top performers, Solana’s $15.78B volume has surpassed Ethereum's $8.87B by a huge margin of 77.91%. This marks the biggest weekly leap for Solana over Ethereum to date.</p>   
<h2 class="wp-block-heading" id="h-will-sol-price-drop-to-150">Will SOL Price Drop to $150?</h2>   
<p>Despite the short-term reversal chances, the uptrend in SOL price will likely face multiple supports before a drop to $150. The bulls will have multiple reversal opportunities at the 50 EMA at $168, support trendline near $165, and the $164 neckline.&nbsp;</p>   
<p>A reversal run will likely form an ascending triangle with the ceiling at $177. Further, a breakout rally will challenge the $200 psychological mark. Conversely, the 200 EMA at $156 will act as the final support before the $150 psychological mark.&nbsp;</p>   
<p>Curious about Solana’s future? Read our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noreferrer noopener">Solana (SOL) Price Prediction</a> for an overview of long-term targets!</p>

Solana (SOL) Price Rocket Struggles At $177! Is $150 on Horizon?

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