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Solana, Tron Bulls Hold Fort; Bitcoin Eyes $106K

Coin WorldThursday, Jan 30, 2025 4:03 pm ET

1min read

Solana and Tron Price Records Slow Growth; Bulls Hold the Forte

In the cryptocurrency market, Solana (SOL) and Tron (TRX) have been experiencing slow growth in their prices, with bulls maintaining their position. Despite the recent rally, both coins have been consolidating, and their prices have not broken out to new highs.

Solana (SOL) has been trading between $225 and $239, with its market cap reaching around $117 billion. The Ichimoku Cloud signals mixed market sentiment, and the BBTrend remains negative, indicating bearish momentum. However, a golden cross could form soon, which could push Solana toward the $272 resistance level and potentially trigger a rally toward $300.

Tron (TRX) has been trading around $0.065, with a market cap of approximately $6.5 billion. The coin has been consolidating below its all-time high, and its price has been supported by prominent crypto wallet Phantom. Tron's fundamentals have also improved, with partnerships and integrations pushing it into BTC DeFi this quarter.

Analysts suggest that Solana's rival, Sui Network (SUI), is biding its time before making its next move to the upside. SUI has been consolidating below its all-time high and has gained support from Phantom, which has live integration with SUI for over 15 million monthly active users. SUI has also partnered with SatLayer and Babylon BTC Staking to push into BTC DeFi this quarter.

Bitcoin (BTC) has successfully retested a resistance zone and needs a daily close above $106,000 to confirm a breakout. The top crypto asset by market cap has produced fakeout spikes caused by investor FOMO in the past, so a daily close above the range high is essential to confirm a breakout.

In conclusion, while Solana and Tron prices have been experiencing slow growth, bulls have maintained their position. The formation of a golden cross could push Solana toward new highs, while Tron's fundamentals have improved, supporting its price. Bitcoin's recent breakout needs a daily close above $106,000 to confirm a breakout, and analysts suggest that Solana's rival, S

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