Solana (SOL) broke its chains: Surpassed critical level for rally

As of November 8, Solana (SOL), which left behind $200, started preparing for the rally.

Bitcoin, which surpassed $76,000, has sparked activity in the altcoin market. The price increase in Solana (SOL) in particular has not gone unnoticed. Popular altcoin, after a long time, has surpassed $200 and is aiming for a new peak. Can SOL, fueled by the frenzy of memecoins and ETF discussions, continue to rise? What levels should investors pay attention to during this process?

The Memecoin craze is taking Solana (SOL) to the top

In the Solana ecosystem, the meme coin trend has been happening for a few months, which has greatly affected the price of Solana. SOL, which stands firm compared to other altcoins in the market downturn, also managed to widen the gap during the uptrend. After breaking the $160 resistance, the popular altcoin gained momentum and reached $200. As of the time of writing, Solana, which is changing hands at $199.48, may rise towards $230.18 and $259.69 with the breakthrough of $214.99.

In this process, the important points to be considered will be the statements about ETFs and the meme coin frenzy. Negative developments regarding ETFs or a decrease in interest in meme coins may create selling pressure for SOL. In such a scenario, declines towards $186.57 - $168.58 - $159.60 and $148.63 can be experienced.

The approval of Solana ETFs, a sharp drop in BTC dominance, or an increase in meme coin madness could create a big explosion in the pair. In such a scenario, $500 can be targeted. This level will serve as an important psychological resistance, especially.

This article does not contain investment advice or recommendation. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.