Ethereum

Solana

DeFi

Daily

<p><strong>Solana (SOL)</strong> has gained significant momentum, driven by its growing influence in the <strong>DeFi sector</strong> and its recent lead over Ethereum in daily DEX volumes. With SOL showing potential for a move toward the $200 mark, short-term bearish signals are tempered by strong support levels, maintaining investor interest. Solana’s expansion in the DEX market has positioned it as a noteworthy player in the crypto space.</p> 
<p><a href="https://www.qubetics.com/?utm_source=TNYR&amp;utm_medium=postBANNER" target="_blank" rel="noopener nofollow"><img loading="lazy" decoding="async" class="size-full wp-image-24541 aligncenter" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/Qubetics-is-728x90-1-1.jpg" alt="Qubetics is 728x90 1 1" width="728" height="90" title="Can Solana Reach $200 or Will It Decline? Potential Scenarios Analyzed 43"></a></p> 
<h2 id="solana-s-rally-indicators">Solana’s Rally Indicators</h2> 
<p>After a weekend rally, Solana’s price surged by approximately 8%, reversing a prior 7% drop on Friday and pushing SOL to a high of $177. However, resistance at this level caused a pullback to $173. While the altcoin has paused around the $177 mark, a strong support zone has formed around $164, suggesting that the price may remain steady despite minor pullbacks.</p> 
<p>Currently trading at $176.98 with a 1.5% increase over the last 24 hours, Solana continues its upward trend. The daily trading range from $173.19 to $178.09 highlights the presence of solid support and resistance zones. SOL’s market cap stands at $83.2 billion, with a fully diluted valuation reaching $103.9 billion. Daily trading volume remains high at $3.6 billion, reflecting robust investor interest.</p> 
<p><img loading="lazy" decoding="async" class="alignnone size-full wp-image-26071" src="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart11-1.jpeg" alt="chart11 1" width="1618" height="1200" title="Can Solana Reach $200 or Will It Decline? Potential Scenarios Analyzed 44" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart11-1.jpeg 1618w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart11-1-768x570.jpeg 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/10/chart11-1-1536x1139.jpeg 1536w" sizes="(max-width: 1618px) 100vw, 1618px"></p> 
<h2 id="solana-s-growth-in-defi-dominance">Solana’s Growth in DeFi Dominance</h2> 
<p>Solana’s rapid growth in the <strong>DeFi</strong> market is also evident in DEX trading volume, where it has taken the lead with a 35% weekly market share. With a total DEX volume of $15.78 billion, Solana has outpaced Ethereum’s $8.87 billion volume by a significant 77%, marking a major advantage for SOL in the DEX space.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING BIG: Solana’s weekly DEX volume dominance over all chains hits an all-time high of 35%.</p> 
 <p>Solana’s $15.78B volume surpasses Ethereum’s $8.87B by 77.91%, marking its highest weekly lead over ETH to date. <a href="https://t.co/4Zy2ckpIIu" rel="nofollow" target="_blank">pic.twitter.com/4Zy2ckpIIu</a></p> 
 <p>— SolanaFloor (@SolanaFloor) <a href="https://twitter.com/SolanaFloor/status/1850756994589749523?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">October 28, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<h2 id="could-solana-retreat-to-150">Could Solana Retreat to $150?</h2> 
<p>While there is a short-term <strong>bearish outlook</strong>, SOL’s price is supported by several critical levels. Buyers are expected to step in before the price dips to $150, with key support at the 50 EMA at $168, the trendline near $165, and a neckline at $164. Buying interest at these levels may lift Solana back to $177, forming a potential ascending triangle.</p> 
<p>Should an upward breakout from this triangle occur, <a href="https://www.turkishnyradio.com/bitcoin-solana-flirt-with-key-levels-whats-wrong-with-ethereum/" target="_blank" rel="noopener">SOL</a> could test the $200 level. However, if selling pressure continues, short-term support at $156 (200 EMA) and the $150 mark may come into play as fallback zones.</p>

Can Solana Reach $200 or Will It Decline? Potential Scenarios Analyzed

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