CandleFocus Solana Price Targets $500 Breakout with DApp Revenue Hitting New Highs
2024-12-18
Author: Content Editor
The Solana price has experienced a 4% drop to $213, following a broader market sentiment decline as Bitcoin fell from $108,000 resistance. However, crypto analysts believe this is a temporary setback, and Solana's recent surge in DApp revenues suggests it is poised for major reversals. The Solana ecosystem achieved a significant milestone in November, with DApp revenue reaching a record high of $365 million, driven by platforms like Pump.fun, Raydium, and Jupiter. The Solana price chart also indicates a cup and handle pattern, suggesting a potential 25% recovery and breakout from resistance at $260 to reach $500. Overall, despite the recent dip, Solana's fundamentals and chart pattern support positive growth in the future.
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