Solana News: Uptrend Gains Momentum with Multiple Golden Crosses

Solana (SOL) is currently experiencing a significant uptrend, highlighted by the formation of multiple golden crosses, a bullish technical indicator. Despite some profit-taking activities among large holders, commonly referred to as whales, their activity levels remain high compared to historical data. This sustained interest from whales, who have increased their holdings significantly in early January, suggests strong confidence in SOL's future performance.

Solana (SOL) Uptrend Gains Momentum with Multiple Golden Crosses Forming

Solana (SOL) is experiencing a significant uptrend, marked by the formation of multiple golden crosses, a bullish technical indicator. Despite some profit-taking activities among large holders, commonly referred to as whales, their activity levels remain high compared to historical data. This sustained interest from whales, who have increased their holdings significantly in early January, suggests strong confidence in SOL's future performance. As a result, SOL is well-positioned to test and potentially break through key resistance levels, possibly surpassing the $240 mark.

Solana Reclaims Monthly And Weekly Support Levels – Expert Sets $330 Target

Solana (SOL) has made a remarkable recovery following Monday’s unexpected flash crash, surging by more than 28% in less than five days. This impressive rebound has sparked renewed Optimism among investors, who are now eyeing the potential for a bullish continuation in the weeks ahead. The rapid price increase has positioned Solana as one of the top-performing assets in the crypto market, signaling a potential shift in momentum. Renowned analyst Jelle recently shared a detailed technical analysis, highlighting that Solana has broken out of its prolonged downtrend. According to Jelle, SOL has successfully reclaimed crucial monthly and weekly support levels, indicating a significant move could be on the horizon. These levels, often considered key benchmarks for long-term stability, suggest that Solana’s recent performance may be the beginning of a sustained upward trend.

Solana’s Pump.Fun Sued For Alleged Pump-And-Dump Schemes And Inadequate User Protection

Popular Solana-based launchpad Pump.fun is facing a class action lawsuit filed by Burwick Law on behalf of investors who suffered losses from memecoins deployed on the platform. The lawsuit alleges that Pump.fun sells unregistered securities, promotes pump-and-dump schemes, and lacks adequate user protection measures. Over the past year, Pump.fun has become a leading token launcher, riding the wave of memecoin mania. However, its success has now been overshadowed by legal challenges, as the law firm announced its pursuit of legal action on behalf of affected investors.

Trump Promotes Solana Meme Coin Days Before Inauguration, Sparking Hacking Concerns

Donald Trump’s official social media accounts have created a stir by promoting a Solana-based meme coin called “Official Trump (TRUMP),” just days before his second presidential inauguration on Jan. 20. The posts, shared on Jan. 18 via X (formerly Twitter) and Truth Social, urged followers to join the “very special Trump Community” by acquiring the token. The meme coin quickly garnered attention, trading at $8.41 within hours of its creation and achieving a market cap of $8.3 billion, according to Moonshot, a platform specializing in memecoin trading. The posts have ignited debates in the cryptocurrency community.