Solana’s price action suggests that the rise will continue, supported by a growing ecosystem and a record high Total Value Locked (TVL).
- Solana has consolidated within the rising edge pattern below the $200 level and is showing potential for upside moves.
- SOL’s TVL, including investing, lending and ongoing investment, has reached an impressive $20 billion, indicating strong ecosystem participation.
Solana’s current price is $191, a recent decline of 1.50%, while trading volume is down 16% to $2 billion, opening it up for potential breakout opportunities.
Market dynamics and price levels for Solana
Latest rankings, Solanine from the price criticism 200 dollars It shows that a rising edge has formed below the resistance level. This pattern often serves as an indicator for a possible bull reversal during the current positive market sentiment.
Although there was a slight decline, the presence growing support line It is showing resistance and confirming a series of higher lows that indicate strong bullish momentum.
Solana’s resistance at the $200 level underscores its importance. If the asset can break above this level, analysts expect a rally above $236 and possibly above $400 in the first quarter of 2025. However, if it fails to clear the $200 resistance, a pullback to nearby support levels at $180 is possible.
Investors are advised to closely monitor trading volume and market sentiment as these factors will determine Solana’s course in the coming months.
Solanine’s total locked-in value: a sign of strong ecosystem activity
By 2024, Solana has 20 billion dollars Total Locked Value (TVL) achieved, marking a new all-time record and highlighting its thriving financial ecosystem. This milestone is attributed to increased investment and lending activity and demonstrates strong engagement among users.
Source: DefiLlama
The market concentration of stablecoins peaked at $5.226 billion, strengthening the liquidity structure necessary for the viability of the platform. Daily expenses reached $3.22 million, indicating high utilization rates; The total volume of transactions increased to 3.293 billion dollars.
Additionally, the network recorded a steady transaction volume of $803.19 million and the number of active addresses was recorded at 4.12 million, highlighting significant interactions that will support future price increases.
Trading Dynamics: Insights from Pumpdotfun Revenue
December 2024 demonstrated Solana’s financial strength by surpassing $80 million in DEX trading volume, which is specifically attributed to Pumpdotfun. This increase placed Solana in a higher trading dynamic, reaching a total DEX volume of $120 billion and a market dominance of 25%.
Source: DefiLlama
Rivals like BSC and Ethereum follow suit with transaction volumes of USD 99.674 billion and USD 92.395 billion respectively, showing that competition in the DeFi space is growing.
However, Pumpdotfun has received criticism for its large withdrawal of SOL tokens, leading to concerns about investor sentiment and confidence. Still, Solana’s momentum from the coin’s meme launch and community engagement suggests there could be growth potential for 2025 if the platform maintains public trust and market position.
Conclusion
Solana is currently facing critical resistance levels and is showing significant market participation through increasing TVL and trading volume. As we move into 2025, observations about price growth momentum and ecosystem activity are critical. It suggests cautious optimism based on its ability to break above the $200 resistance. Investors should consider the impact of market movements and broader sentiment on Solana’s trajectory.
