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Solana Price Rebound Aims for 25% Surge as TVL Heads Toward $6 Billion

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3 months ago

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In Friday’s US trading session, the crypto market rebounded with renewed buying strength as the Bitcoin price spiked 4.34%. After a week-long consolidation, the bullish momentum uplifted most major altcoins, including SOL, to kick-start a sustainable recovery. The Solana price is up 5% today, indicating potential for further recovery as the Total Value Locked (TVL) continues to rise.

Solana Price Gears Up for 25% Rally as TVL Edges Toward $6 Billion

Following the initial market sell-off triggered by geopolitical tension in the Middle East, the Solana price plunged $136.2 in early October. The coin price managed to stabilize with short consolidation and developed a bullish reversal double-bottom pattern.

The SOL price has been up 7.8% in the last 48 hours to trade at $145, while the market cap boosted to $68.28 billion. The recent price jump also reclaimed the crucial daily EMAs (50, 100, and 200), positioning SOL price for further rally. With sustained buying, the Solana price could rise 25% to hit $180, challenging the triangle resistance for the pennant pattern.

Theoretically, the pattern shows a long pole defining the primary trend, followed by a counter-trend move led by two converging terminals. The short pullback is meant to recuperate exhausted bullish momentum and offer a strong breakout for the next big move.

Thus, a potential break-out from the overhead trend line will accelerate the bullish momentum and trigger the Solana price prediction rally to $209, followed by $275.

BINANCE:SOLUSDT Chart Image by sahilmahadik07BINANCE:SOLUSDT Chart Image by sahilmahadik07

SOL TVL Surges to $5.7 Billion with User Activity at 3.44M

According to theBlock data, Solana’s active addresses have swiftly rebounded to 3.44 million, highlighting a surge in user activity and engagement on its network. This increase in active addresses signals growing confidence and participation in Solana’s ecosystem, which is a positive indicator of network health. 

In addition, Solana’s Total Value Locked (TVL) has displayed a steady upward trend since March 2024. According to DeFiLlama data, the SOL TVL has surged by $5.7 Billion. Reflecting increased investor confidence and engagement in decentralized finance (DeFi) projects within its ecosystem.

On the contrary, if the Solana price breaks below the pennant’s lower trendline, the bearish momentum will accelerate, extending the correction trend to $100, followed by $80.

Frequently Asked Questions (FAQs)

Solana’s price is up 5% today, and this momentum is expected to continue toward a 25% surge, driven by rising Total Value Locked (TVL) in its decentralized finance (DeFi) ecosystem

Solana’s price formed a bullish double-bottom pattern after a stabilization period following an initial sell-off

If Solana’s price drops below the pennant’s lower trendline, bearish momentum could accelerate, extending the correction

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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altcoin to buy

Top Altcoins to Buy in 2025 That Could Skyrocket in 60 Days

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1 day ago

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January 6, 2025

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The crypto market is surging, drawing investors seeking lucrative opportunities. Among the best altcoins to buy, three standout assets show significant potential for explosive growth. Backed by bullish trends and strong fundamentals, these cryptocurrencies are positioned as promising investment options, making them must-watch contenders for major returns in early 2025.

Altcoins to Buy: ​​Cardano (ADA)

Cardano (ADA), a leading third-generation blockchain, is gaining traction for its eco-friendly proof-of-stake (PoS) consensus mechanism. Unlike energy-intensive proof-of-work networks, Cardano offers sustainable solutions. Over the past year, the ADA price has doubled, reaching $1.10. This growth stands out among the top altcoins to buy in 2025, presenting the potential for significant gains within the next 60 days.

Crypto analyst Ali has predicted a bullish breakout for Cardano (ADA), identifying a potential target price of $3. According to his recent analysis, ADA is forming a classic bull pennant pattern on the charts, a formation often associated with upward price momentum. 

Top Altcoins to Buy in 2025 That Could Skyrocket in 60 DaysTop Altcoins to Buy in 2025 That Could Skyrocket in 60 Days
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DexBoss (DEBO)

DexBoss (DEBO) has initiated its token presale, pricing each token at $0.011. The listing price is set at $0.0505. The project introduces a deflationary buyback-and-burn mechanism designed to reduce supply and increase token value. DexBoss seeks to replicate centralized exchange features within a decentralized platform, offering a seamless DeFi experience. 

With a fixed supply and growing demand, the project aims to attract investors looking for long-term returns. DexBoss presents a compelling opportunity for individuals exploring decentralized finance advancements and the rapidly growing DeFi ecosystem.

Solana (SOL)

Solana (SOL), an open-source blockchain, is making waves in decentralized finance (DeFi). Supporting various decentralized applications (DApps), the SOL price increased by 4% in the past 24 hours, reaching $217. Over the last year, Solana’s market capitalization has grown by 125%, underscoring its rapid expansion within the layer-one blockchain ecosystem, making it the best altcoin to buy.

Solana led blockchain activity with $3.66 billion in daily trading volume, surpassing Ethereum’s $1.714 billion. Base followed with $1.207 billion, while Binance Smart Chain (BSC) and Sui recorded $877.64 million and $370.76 million, respectively.

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Investors seeking altcoins to buy in 2025 should consider these three assets for their potential to outperform in the near term. With solid fundamentals and growth-driven roadmaps, they remain strong contenders for notable gains within a bullish crypto market cycle.

 

Frequently Asked Questions (FAQs)

Cardano offers eco-friendly PoS, bullish momentum, and a $3 price target.

DexBoss is a DeFi platform with deflationary tokenomics and strong growth potential.

Solana dominates DeFi with high activity and rapid market expansion.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Markets

SPX6900 price rockets to ATH: will SPX hit $2 soon?

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2 days ago

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January 6, 2025

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The SPX6900 token continued its strong uptrend on Monday, reaching an all-time high with a market cap exceeding $1.42 billion. SPX6900 (SPX) traded above $1.56 on Jan. 6, rising more than 250% from its November low, making it the tenth-largest…



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PEPE price

Pepe Coin Price Set to Crash 30% As Top Holders Sell PEPE

Published

2 days ago

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January 6, 2025

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The recent Pepe coin price rebound could be nearing its end as some top holders start exiting and as active addresses fall. It could also come under pressure after forming a popular bearish chart pattern. 

Pepe Coin Price Is At Risk As Top Holders Scale Back

Pepe, the third biggest meme coin, has recovered by over 40% from its lowest level in December as investors bought the dip. 

Now, however, there are signs that some big holders have started to sell the coin, which could lead to more weakness in the near term. Santiment data shows that the supply held by top addresses as a percentage of total supply has dropped to 39.78 billion, down from over 45 billion tokens a few weeks ago.

Pepe Large Holders Are SellingPepe Large Holders Are Selling
Pepe Large Holders Are Selling

More data by IntoTheBlock shows that the number of addresses has continued falling in the past few weeks. New addresses have fallen by 13.21% in the last seven days, while active addresses have dropped by 3.90%. This decline is a sign that many users anticipate that the token price will continue falling.

Pepe Active AddressesPepe Active Addresses
Pepe Active Addresses

Meanwhile, smart money investors have also started to sell the Pepe coin as its price dropped from its all-time high. There are now just 90 smart money holders of the coin, down from near 110 a few weeks ago.

Pepe Coin Smart MoneyPepe Coin Smart Money
Pepe Coin Smart Money

Pepe Price Chart Points To a Big Crash Soon

The 4H chart shows that the Pepe price peaked at $0.00002190 last week, where it formed a double-top chart pattern. This was an important price since it was along the 50% Fibonacci Retracement level, which provides crucial resistance. 

Now, the Pepe coin price has formed a rising wedge chart pattern, which results into a bearish breakout. The upper trendline links the highest swings since December 24, while the lower side connects the lowest levels since December 21. These two support and resistance levels are now nearing their convergence, which is when a bearish breakout usually happens.

Pepe Coin Price ChartPepe Coin Price Chart
Pepe Coin Price Chart

Pepe Forecast Reveals Key Targets

Based on this technical analysis, we can estimate that the value of Pepe will soon have a bearish breakout. This view will be confirmed if it drops below the lower side of the wedge and the 50-period moving average at $0.00002020. Such a move will put Pepe at risk of falling to the December low of $0.00001433, which is about 30% below the current level. 

On the other hand, the bearish Pepe prediction will be invalidated if it rises above the key resistance at $0.00002190, the highest swing this month. That rebound will push it to the psychological point at $0.00002535, which is 22% above the current level.

Frequently Asked Questions (FAQs)

Pepe price may drop sharply after several large holders and smart money investors continued selling the token. A 30% drop is possible.

The most likely scenario is where the Pepe token drops by 30% to $0.00001433, its lowest level in December.

Pepe coin may jump to $0.000025, a key psychological level if it flips the key resistance at $0.00002190.

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crispus

Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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