Will SOL break the $180 resistance level? Solana (SOL) is making waves in the crypto world, currently priced at $175.75 with a market cap of $82.66 billion. Many analysts are closely watching as SOL approaches the important $180 resistance level. If it breaks through this point, it could quickly rise to $275 and potentially reach $300, marking one of the biggest rallies of the year. This situation has led to increased interest in Solana, with many traders eager for insights and SOL price prediction as the market evolves.
In the past week, Solana has seen some ups and downs, climbing from $168 to $176. Even after experiencing some dips midweek, the price bounced back, showing strong demand from buyers. For Solana to keep this positive momentum, it needs to hold above the $171 support level.
Growth in On-Chain Metrics
According to recent data from TheBlockData, Solana is showing solid growth in key metrics. Indicators like new addresses, active addresses, and transactions on the SOL network have all increased in the third quarter. This growth is especially notable when compared to Ethereum.
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DEX Volume: Solana vs. Ethereum
One impressive metric to note is the weekly DEX volume. As reported by DeFiLlama, Solana has reached $15.733 billion in weekly DEX volume, surpassing Ethereum’s $8.849 billion. This is significant because it’s the first time Solana has led Ethereum in DEX trading volume by such a large margin of 77.79%.
Weekly DEX Volume Breakdown
- Solana: $15.733 billion
- Ethereum: $8.849 billion
In the last 24 hours, Solana’s DEX volume was $1.739 billion, while Ethereum’s volume was significantly lower at $836.79 million.
With Solana showing strong upward momentum and leading in DEX trading volume, the future looks bright for SOL. Watching how it performs around the $180 resistance level and whether it can stay above $171 will be key to its next moves. As the crypto market changes, Solana's progress will certainly be of great interest to both investors and analysts.