 Soal assets under management crossed the $365 million mark with $12.4 million in additional inflows during the previous week. Solana's position in the market as a fast, scalable, secure and decentralized network has been the token selling point. Its ability to rise from the FTX saga and sell off to $8 in November last year proves to investors that Solana price could explode and reach all-time highs of $260. Meanwhile, Solana is trading at $60, up 2% in 24 hours, 4% in 7 days, 6.4% in a fortnight and 56% in 30 days. If the minor ups and downs Solana has experienced in the last few weeks are set aside, the smart contract's token displays a bullish structure which if sustained could see bulls reclaim key levels while closing the gap to $100. The confirmation of support at $1.51 assured traders of the uptrend despite the reality of acute resistance between $1.60 and $1.62. Soal managed to break above this zone once this year, but the momentum faded at $66 temporarily overshadowing hopes of a breakout above $70. Support at $60 coupled with a continuing buy signal from the moving average convergence divergence, MAKD, points Solana on an upward trajectory. Therefore, traders should be getting ready to increase exposure to SOL longs as soon as the price climbs above the immediate hurdle of $62. Caution is advised. Keeping in mind Solana may be required to sweep lower levels for fresh liquidity to support the next breakout. The 50 exponential moving average, EMA, red is in line at $58.41 to absorb the selling pressure. Depending on the headwinds, SOL is facing at $1.62. The 50 EMA may or may not be able to stop the pullback. For that reason, traders should also keep tabs on the following support at $1.56 as presented by the 100 EMA, blue. This trend shows a resurgence for the Solana outsider. After a challenging year in 2022 marked by repeated outages and the FTX affair, the decentralized network seems to be attracting investors once again. SOL has had a phenomenal rally in November. The price of Ethereum's competitor surpassed $1.50 for the first time since May 2022, outperforming most cryptos in terms of performance. According to experts, this surge is due to a squeeze caused by the exit of short sellers and renewed institutional interest. However, a month later, Solana continues to rise. In the last 30 days, SOL has increased by more than 70%. Otherwise, the crypto market is relatively stagnant. Bitcoin and Ethereum have barely moved over 24 hours. The same goes for Dogecoin, Tron, and XRP. Only Avalanche, Avax, is performing as well as SOL over 24 hours at $20.87, plus 80% in a month. One of the primary implications of Solana's current price movement is its impact on investor confidence. Solana's meteoric rise in 2021 attracted a surge of investors eager to capitalize on its potential. The recent price fluctuations serve as a litmus test for these investors, prompting a reassessment of their positions and risk tolerance. To navigate the volatile crypto market, understanding the signals embedded in Solana's price movements becomes imperative. Moreover, the sway of Solana's performance extends beyond individual portfolios to the decentralized finance DeFi ecosystem. As a blockchain designed for high-performance decentralized applications, Solana's performance has a direct bearing on the growth and development of DeFi projects. The ongoing price fluctuations may influence developers and projects considering building on the Solana network, impacting overall liquidity and user engagement within the Solana-based DeFi landscape. In this roller coaster ride, regulatory developments also play a pivotal role. The cryptocurrency space is under constant scrutiny from regulatory bodies worldwide, and any regulatory actions can significantly impact the value of digital assets. The interplay between Solana's price trajectory and evolving regulations adds an extra layer of complexity for investors and industry participants. Solana's network reached an all-time high with 51.63 million daily transactions. This performance propelled Solana's price to $59.58, resulting in a weekly gain of 1.53%. Solana's trading volume reached $1.2 billion, demonstrating its significant market presence. Despite a retracement, the overall outlook for Solana remains positive, with the coin currently trading in the $52.21, $59.48 range. Although Solana wins on certain points, it is still far from rivaling Ethereum. Indeed, while it impresses with its technical performance, it cannot yet equal the richness of the Ethereum ecosystem nor its dominance in the DApp sector. Furthermore, Ethereum also boasts a crucial advantage. Its credibility and reputation solidly established over the years in the crypto industry. Therefore, despite high fees and scalability limitations, it remains the reference point for institutional players. Will Solana ever manage to dethrone Ethereum? If it continues on its current trajectory, it's not impossible. However, the path is still long for this contender to the throne, which must above all consolidate investors' trust in the long-term. Crypto.com Exchange adds support for Sol EUR trading pair. Crypto.com, one of the leading cryptocurrency exchanges, has announced that it has added support for new trading pairs, Sol EUR and XRP EUR. This support underscores Solana's growing popularity and demand ahead of the bull run likely to be triggered by the two most anticipated events, starting with the potential approval of Bitcoin spot exchange traded funds, ETFs, and the having. Thanks for watching this video. 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