Solana Breaks Out as Ethereum Hits Resistance

Solana is experiencing a breakout from its bull flag pattern, pushing the price up by 10.70% to $112.73 over the last week.

The surge in daily active users in September led to a crossover of the 30-day and 50-day moving averages on June 24, when the price jumped from $68 to $100 in just two months.

Short sellers are facing a squeeze as $9.74 million in shorts were liquidated in 24 hours, compared to just $1.65 million for longs.

Ethereum, on the other hand, is testing a resistance zone at $2,550, with a price of $2,452 after a weekly candle rose by 31%.

The Pectra upgrade on Ethereum changed staking economics, allowing a single validator to hold up to 2,048 ETH through EIP-7251, which reduced the total number of validator nodes needed.