Solana Struggles Compared To ETH, XRP: What Is Going On With SOL?
By Benzinga
Solana‘s (CRYPTO: SOL) lackluster performance over the past month has done little to discourage traders from seeing a bright future for the altcoin.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Solana (CRYPTO: SOL) | $208.69 | $99.4 billion | -7.3% | -6.6% |
| Ethereum (CRYPTO: ETH) | $3,586.94 | $432 billion | -6.4% | +0.5% |
| XRP (CRYPTO: XRP) | $2.04 | $117.7 billion | -14.1% | -19.7% |
Trader Notes: Cypto trader McKenna predicts Solana could quickly reach $500, citing its resilience and potential.
Trader Jelle forecasts a rally to $600 in the coming months:
Crypto trader The Moon Show sees a breakout from a massive symmetrical triangle, targeting $295.
Altcoin Sherpa acknowledges short-term weakness in Solana’s ecosystem, citing subdued price action. While bullish long-term, Sherpa identifies $180 as a potential support level if current prices falter.
Statistics: DefiLlama data shows Solana’s total value locked at $8.8 billion.
Coinglass data reports Solana’s open interest at $6.05 billion, close to its all-time high levels.
Long liquidations dropped significantly, from $57.4 million on Dec. 9 to $8.43 million on Dec. 10, reflecting stabilization.
What’s Next: Solana’s current flatlining could be a period of consolidation before a breakout. Open interest and trading activity underscores that traders are watching the altcoin closely, suggesting a high likelihood of future volatility.
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Image: Shutterstock
