As Bitcoin and Ethereum test new levels of resistance during the market recovery, Solana continues to demonstrate momentum and resilience. On November 15, the SOL token added 4 billion dollars to its market cap, rising from about 22 to 26.5 billion dollars. This morning, it further increased its value to 27 billion dollars. In the context of this growth, the price of SOL reached the threshold of 65.31 dollars, recording an increase of 9.91% in the
last 24 hours.
Table of Contents:
Solana: A Sustained Growth
During November, SOL registered an incredible 186% growth since mid-October, with a further increase of 48% in the last week alone. This exploit brought the price of SOL to 65.31 dollars compared to 44 dollars last Thursday
.
Ranking and Future Perspectives
This extraordinary performance pushed Solana to sixth position in terms of market cap, overcoming concerns related to liquidations controlled by FTX. The focus is now on possible further growth, with many people wondering if SOL will reach the 70 dollar mark, a price level that has not been seen since the end of
2022.
Driving Factors and Growth Prospects
SOL’s recent momentum has been supported by positive news, such as the launch of perpetual SOL futures announced by Coinbase earlier in the week. Despite a brief slowdown last week while trying to exceed 64 dollars, Solana demonstrated remarkable resilience. Some analysts note similarities with the model of April and May 2021, when the cryptocurrency retraced below 25 dollars before exploding to new all-time
highs.
Future Perspectives and Trend Monitoring
Solana continues to challenge technical analysis indicators that suggested a possible imminent correction, maintaining an upward trend. Investors are now wondering if SOL will follow the 2021 model, opening up the possibility of a price explosion to new all-time highs. Stay up to date as we closely monitor Solana’s development in the dynamic context of the cryptocurrency market
.
