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Solana (SOL) enters November with strong bullish momentum, setting the stage for a potential breakout rally. Altcoins benefited from a series of positive developments recorded throughout October. After weeks of consolidation, optimism is growing about strong gains in the month ahead. Solana has considerable supportOver the past four weeks, institutional investors have continued to show extraordinary confidence in Solana. Since the beginning of October, SOL has recorded over $381 million in inflows from institutional players, exceeding the inflows of all other altcoins combined. The surge in capital underscores growing confidence in Solana's long-term potential and its emerging dominance in the layer-1 blockchain space. Although the broader cryptocurrency market was largely bearish in October, institutions maintained steady buying activity.  The HODLer Net Position Change indicator adds to the bullish narrative. The recently receding red bar indicates that selling pressure from long-term holders is easing. This is a positive turn of events considering the persistence of the LTH sell-off in September and half of October, which previously weighed heavily on SOL's price performance. If this trend continues into November and transitions to accumulation, Solana's market structure could strengthen significantly. A return to long-term holder confidence typically supports sustainable price growth, making sell-off decline a key factor in a potential rebound.  What does history say?Historically, November is one of the strongest months for Solana investors. The data shows that the average monthly return during this period was 13.9%, and the median return was 27.5%. This seasonal strength boosts market confidence, helping to attract new inflows and reinforce bullish momentum across the ecosystem.  SOL price awaits breakoutAs of this writing, Solana is priced at $198, just under the $200 mark. The fact that SOL is moving within a flag pattern adds to the expected bullish sentiment. This bullish pattern often signals a breakout rally after a period of sideways movement. BeInCrypto recently predicted a bullish breakout, and SOL appears to be heading in that direction. Once Solana's price breaks above the $213 resistance, the breakout will be confirmed, allowing a move up to $232 and beyond.  On the other hand, if the breakout fails, Solana’s price could fall back to the pattern. Meanwhile, if Solana’s price fails to break above $200, it could eventually fall back to $175, invalidating the bullish thesis. The article ends here. If you like it, please like and repost it. To learn more about market trends and information, please read below👇! If you want to go ashore, come with us to grasp the next hot spots and jointly maximize the return on investment! Join us: send a private message in the background or scan the QR code below If you want to know more about the currency circle and first-hand cutting-edge information, please feel free to consult me. We have the most professional currency circle community and publish market analysis every day. High-quality potential currency recommendations. If you also want to ride through the bull and bear markets, watch others sink to the bottom in the bear market, double your income, and get rid of the shackles of the bull and bear markets, welcome to private message me to join us.  |
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