$200 Barrier in SOL, ADA Trapped Below $1, TRX Anticipates 2025 Rally
Recently, one of the notable developments in the altcoin market has been the price movements and potential breakout points of altcoins such as Solana (SOL), Cardano (ADA), and Tron (TRX). Investors are closely monitoring Solana approaching the psychological level of $200, Cardano's weak performance, and Tron's recovery efforts.
Bitcoin's influence rejuvenates the altcoin market. Bitcoin's rise in the last 24 hours has positively impacted the altcoin market. Solana (SOL) experienced a 2.17% increase in value during this period. However, its performances over the last 7 and 13 days continue to trend negatively. Nonetheless, Solana remains in sixth place in market rankings, just behind BNB, with a market capitalization of $94 billion.
Solana currently approaching the psychological level of $200 increases the likelihood of a new breakout rally. Can SOL overcome the $200 barrier? Today's price movement of Solana indicates that it is under pressure. However, as SOL maintains its upward trend this week, the current outlook suggests potential for growth above $200.
In the short term, technical indicators suggest that Solana could test the resistance at $215, above the $200 mark. If a breakout occurs, optimistic commentators predict that the cryptocurrency could rise to $270 by January. However, if it remains below the $200 level, the possibility of Solana retesting below $190 cannot be ruled out.
Cardano is stuck below $1: the downtrend continues. Cardano (ADA) has been trading in a narrow range between $0.87 and $1 since last week. Weakening investor confidence and decreasing market activity are hampering ADA's recovery hopes. Daily active addresses (DAA) and large investor transactions indicate a decline in network activity, which is one of the most significant factors negatively affecting ADA's price movement.
The decline in market activity continues. The number of large transactions exceeding $100,000 on the Cardano network has fallen to 5,560, the lowest level in six weeks. According to IntoTheBlock data, this decline indicates that large investors are hesitant to return to the market. Additionally, stagnation in trading volumes proves that investor interest has diminished. ADA's current price is at $0.916, and the outlook carries a risk of further decline. Analysts warn that if ADA falls below $0.87, the price could drop to $0.77. However, surpassing the $1 level could invalidate the downtrend and restore investor confidence. Movements above this critical level could enhance ADA's recovery potential.
Are there hopes for a 2025 rally in the Tron market? Tron (TRX) has caught investors' attention with a 22% price increase over the last 30 days. Currently, TRX is testing a critical resistance point after breaking above the 200 EMA line and the $0.25 level on the 4-hour chart.
The TRX ecosystem is strengthening. TRX's recovery is supported by a stable crypto supply of $62 billion. The growth of other stable cryptocurrencies, particularly USDT, is among the biggest factors maintaining the stability of the Tron ecosystem. Analysts expect that if TRX breaks its sideways appearance above $0.25, it could hold above $0.30 in the short term. In a more optimistic scenario, the price could rise to $0.54 by January. In the lower region, a support level is forming at $0.24; if the price falls below this value, the bullish outlook will be disrupted, and a retracement to around $0.20 may occur.