Solana (SOL) Emerges as Top Contender in Altcoin Revival

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$SOL Back from the DeadSolana (SOL) experienced a remarkable recovery after hitting a low of $8 in December. Despite doubts about the token and the network, $SOL remained stagnant until September. Since then, there has been a significant change in its fortunes. $SOL surged by 260% and reached a local high of $68 on November 16. After a retracement to $51, forming a double bottom, it appears that $SOL could be one of the first altcoins to break free from the recent bearish trend. The price seems to have formed a higher low, finding support between the 0.618 and 0.786 Fibonacci levels.The Oracle of OraclesPyth Network (PYTH) is an oracle built on the Solana blockchain that provides data feeds across multiple blockchains. Unlike Chainlink (LINK), which is available on only five blockchains, PYTH has 380+ data feeds across 40+ blockchains. After a 30% retracement from its local high at $0.55, PYTH touched the 0.618 Fibonacci level at $0.38 and is currently attempting a breakout from a bull flag pattern. The target for the flag is around the launch price of $0.65. Given its fundamentals, it wouldn’t be surprising to see PYTH reach and surpass this level.Meme Coin Wars$BONK is considered the Solana equivalent of Ethereum’s $PEPE meme coin. As a newcomer to the meme coin scene, $BONK benefits from the hype surrounding it. The chart shows that $BONK has already experienced a breakout on the hourly timeframe, but it’s important to note that it has already gained over 3000% since October 20. Meme coins are speculative assets, and traders should exercise caution and implement risk management strategies, including stop losses.Disclaimer: This article is for informational purposes only and should not be considered as legal, tax, investment, financial, or any other form of advice.

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