The recent inauguration of Donald Trump as the 47th President of the United States caused heightened volatility in the crypto market, with Bitcoin reaching a new all-time high. Along with this, the price of Solana (SOL) and other altcoins experienced a significant jump during the opening of the US market. Solana's blockchain saw a surge in transaction fees during the release of the TRUMP token, indicating high demand for politically driven tokens. This event also highlighted the scalability challenges faced by popular blockchain ecosystems like Solana. Despite a recent surge in price, the SOL price is currently facing resistance at $60-$65, with sellers defending these higher levels. If this supply pressure continues, the price may remain range-bound, but a breakout above $65 could lead to further bullish momentum towards a $500 rally.



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