After the US elections, optimism in the cryptocurrency market began to weaken. Bitcoin in the last days of the week with low volatility 
$79,504It faced selling pressure at the $79,000 level, which was interpreted as a pullback signal after the rally. However, it is considered that Solana may break a positive trend supported by the increase in total locked asset (TVL) value.
Analysts: Target in Solana is $400
After Donald Trump’s victory in the US presidential elections, the market entered a new recovery period. While Bitcoin reached the $77,200 level, most major altcoins recorded a similar rise. Solana price increased by 28.8%, from $ 158 to $ 200. Crypto analyst Pentoshi described this price movement as an important sign and noted that a breakout could occur next week.
According to Pentoshi, the “Cup and Handle” formation on the Solana chart is a sign that the price will rise. The analyst notes that the formation is challenging the $210 neckline resistance. Breaking this resistance could accelerate the recovery and contribute to the end of the long-term accumulation process.
Increasing TVL, DeFi Revival and Solana’s Upside Potential
According to DefiLlama data, Solana’s total locked asset value (TVL) increased by 20%, from $5.94 billion to $7.15 billion. This growth indicates a significant increase in capital inflows into Solana-based decentralized finance (DeFi) protocols. It also marks an increase in the network’s usage rate.
This increase in TVL is thought to have the potential to trigger a long-term uptrend.
However, if Solana continues to see selling pressure at the $210 level, a horizontal price course may be observed with the sellers’ counter move. Solana’s price movements are carefully monitored within the framework of both technical indicators and developments in the DeFi ecosystem. It is emphasized that investors should be cautious against market fluctuations.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
