Solana price showed a rebound on the 4-hour chart of SOL USD, consistently closing above its major moving averages.
After a challenging period, SOL established a strong support base around $184.20, confirmed by repeated touches that didn’t break lower. This phase set the stage for a rally.
SOL initiated a sharp climb, decisively crossing the $193.44 mark, which coincided with the 200 EMA—a critical resistance turned support level.
The momentum didn’t wane; instead, it gathered strength as the price surged past the $195.33 and $204.64 levels, closing near the $210 mark.
This movement aligned perfectly with the rising trendline, reinforcing the potential for an uptrend continuation.
Notably, Solana price pushed through the 50 EMA just before this surge confirmed the bullish sentiment.
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Traders and analysts are watching the $205 resistance; a break and hold above it could confirm SOL’s re-entry into a sustained uptrend.
This movement suggested an increasing investor confidence and a potential setup for further gains, especially if SOL maintains its stance above these critical thresholds.
Solana Outpaces Bitcoin and Ethereum
Since December 2022, Solana’s realized capital change has been impressive, notably outpacing both Bitcoin (BTC) and Ethereum (ETH).
This period marked SOL as an increasingly significant player within the blockchain ecosystem. Over 727 trading days, SOL recorded superior performance on 389 days.
The pronounced peaks in Solana price realized cap change were particularly visible around mid-2024, where its performance graph sharply rose above those of BTC and ETH.
This surge correlated with SOL’s price increase, signaling strong market confidence and heavy capital inflow.
Moreover, this data mirrored the broader market trends where SOL’s aggressive growth phases aligned closely with its peaks.
SOL’s realized cap saw substantial growth in May as its price concurrently soared, reaching new heights. This pattern focused on the direct impact of increasing capital inflow on market valuation.
In contrast, BTC and ETH showed more modest increases in their realized caps during the same period, indicating that while they continue to grow, their pace has not matched that of Solana.
Solana’s distinctive performance across these months positions it as a compelling asset within the competitive cryptocurrency space.
If Solana price continues to maintain its edge in capital growth, it could further cement its status as a top-tier asset in the blockchain arena.
Altseason Could Come in January If Solana Price Breaks Above This Level
Based on historical patterns in the Total 2 (TOTAL2) index, if Solana price breaks above $205, it could indeed be the catalyst for an upcoming altseason starting in January 2025.
Just as in 2020, Total2 underwent a period of consolidation from August to October, a contracting triangle pattern, followed by a breakout in November of both years.
In December 2020 and 2024, a slight resting phase occurred after the breakout, setting the stage for significant surges.
The January to May 2021 rally saw exponential growth across various altcoins, hinting at a repeat cycle for 2025 based on these recurring trends.
The breakout candle in November 2024 was particularly significant, mirroring the 2020 movements that preceded substantial market rallies.
If this Solana price pattern holds true, Total2 suggests an altseason in early 2025 could mirror the rapid and extensive gains experienced in 2021.
The expectation of a quick, impactful altseason was supported by the repeated historical pattern, suggesting that a similar five-month window of opportunity may present itself once again.
With Solana’s rise potentially igniting broader market enthusiasm, the stage is set for an expansive altseason, potentially replicating the 2021 trajectory.
