Solana continues north after breaking all the resistance levels that have been holding her up. With a few hurdles ahead, SOL should continue to grow significantly.

SOL outperforms XRP

Solana broke the previous all-time high and returned to pricing mode. As a result of this move, SOL has overtaken XRP in 6th place in terms of market capitalization.

Reaching such a milestone is not easy as number 6 has entered a period of stagnation after hitting a record high of $ 216 on the 12-hour chart on September 9th.

The surge in buy orders on October 20 enabled SOL to break out of its consolidation pattern. Although prices have risen more than 34% since then, SOL could still have plenty of room for an explosion. A measurement from the breakout point predicts a 15 percent price increase.

If confirmed, further upward pressure could push Solana towards $ 250 or higher.

Source: TradingView

It’s worth noting that speculators can expect bullish news at Solana’s upcoming Breakpoint conference in early November. However, if the conference doesn’t live up to traders’ expectations, the “sell the truth” event can occur, adding to downward pressure on Solana.

In such circumstances, a correction is possible that will push SOL back towards the $ 195 support.

You can see the SOL prices here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

Annie

According to crypto briefing

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