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Analysis
Analysis
The silver market is witnessing a historic surge, propelled by an acute physical shortage in China that has triggered what some are calling a buying frenzy. Prices have smashed through the $66 barrier, setting a fresh 52-week high and forcing Chinese exchanges to implement emergency trading measures.
Two powerful forces are converging to drive silver’s explosive rally. First, persistent supply deficits are colliding with massive industrial demand within China. The nation’s booming solar energy and electric vehicle sectors are consuming vast quantities of the metal, straining available inventories. This physical squeeze was underscored by the Shanghai Futures Exchange’s decision to urgently raise margin requirements for silver contracts—a move typically reserved for cooling overheated markets.
Second, disappointing economic data from the United States has provided significant tailwinds. The latest Non-Farm Payrolls report showed a mere 64,000 jobs were added in November, while the unemployment rate climbed to 4.6%. This weakness has increased market expectations for more aggressive interest rate cuts from the Federal Reserve. As Thu Lan Nguyen of Commerzbank notes, the Fed may be compelled to reduce rates more substantially than previously anticipated. A softer U.S. dollar subsequently makes dollar-denominated commodities like silver more attractive to international buyers.
The bullish sentiment is reflected in equity markets as well, with China’s CSI non-ferrous metals industry index advancing over 3%.
From a charting standpoint, the decisive break above $66 confirms the strength of the existing upward trend. Market technicians describe the price action as dynamic and well-contained within a medium-term channel, with previous resistance levels easily overcome.
However, amid the current euphoria, some cautionary voices are emerging. Analyst Avi Gilburt, employing cycle analysis, warns that the rally could be approaching its final stages. He forecasts a potential bear market phase could begin after 2026. Despite this long-term caution, the immediate narrative is dominated by bulls, fueled by the tangible physical shortage and frantic purchasing activity.
The combination of Asian supply stress and supportive monetary policy shifts has positioned silver as one of the hottest commodities in the sector. Yet, the emergency margin hikes and extreme volatility serve as a clear reminder: this market remains both extraordinarily exciting and inherently risky.
The Solana blockchain has successfully withstood one of the most significant distributed denial-of-service (DDoS) attacks in the history of the technology, an event that proceeded largely unnoticed by its user base. For over a week, the network has been processing transactions within milliseconds despite being targeted by a barrage of traffic reaching up to 6 terabits per second. This technical fortitude unfolds as a new exchange-traded product (ETP) for Solana launches in Brazil, even as the SOL token price continues to trade within a narrow band around $128.
In a strategic move for regional adoption, asset manager Valour, a subsidiary of DeFi Technologies, listed its Solana ETP (VSOL) on Brazil’s B3 exchange on December 17, 2025. This launch marks the first time institutional investors in Latin America’s largest economy can gain regulated, real-denominated exposure to SOL. Valour’s Brazilian product suite already includes offerings for Bitcoin, Ethereum, XRP, and Sui.
The timing aligns with Brazil’s position as the world’s fifth-ranked nation for cryptocurrency adoption, according to data from Chainalysis. The country’s central bank has acknowledged the widespread use of stablecoins for cross-border payments, while local platforms like Mercado Bitcoin are increasingly focusing on the tokenization of real-world assets.
The scale of the recent DDoS assault places it among the top four such attacks ever recorded against a distributed system, surpassed only by incidents targeting Google Cloud in 2022 and Cloudflare customers in 2023 and 2024. Crucially, Solana’s network performance remained unimpaired: transaction confirmations occurred without delay, slot latency held steady, and validators continued to produce blocks normally.
Mert Mumtaz, CEO of infrastructure provider Helius, highlighted the significance, noting that the fact users experienced virtually no disruption speaks volumes about Solana’s technical foundation. This resilience is particularly notable given the network’s well-documented history of outages in its earlier years, a phase that now appears conclusively in the past.
SOL is currently trading near $128, having moved within a constricted $120 to $130 range for several weeks. Trading volume has recently increased by approximately 40%, and chart analysts have identified a bullish Golden Cross momentum signal on the daily timeframe.
However, a broader perspective reveals a more cautious picture. On a weekly basis, SOL continues to trade below its 200-week Exponential Moving Average (EMA), a level historically used to distinguish between bull and bear market phases. The $120 to $118 zone is viewed as the last major weekly support level. A breach below this area could see the next significant demand zone emerge between $89 and $101.
Key Technical Levels:
* Immediate Resistance: $129–$132
* Medium-Term Resistance: $145–$146
* Primary Support: $120–$118
* Next Downside Target: $112–$108
For the second consecutive period, Solana retains its status as the most popular blockchain ecosystem based on narrative interest. Data from CoinGecko indicates that 26.79% of global interest in chain-specific narratives is focused on SOL. This figure, however, represents a decline of 12 percentage points from 2024, when Solana commanded 38.79% of the interest.
Within its ecosystem, lending platforms now manage $3.6 billion in value, a 33% increase year-over-year. The chain’s technical merits—including 400-millisecond transaction finality, average fees of $0.001, and over 1.5 years without a network outage—continue to attract DeFi developers. On social media, Solana leads with 58,800 posts and 14.7 million interactions within a 24-hour period.
The critical question for SOL’s price trajectory will likely be answered at the $120 support level. A sustained break below it could trigger selling pressure toward $112. Conversely, a decisive move above $145 would neutralize the current bearish structure. While the network has proven its stability under extreme conditions, whether this resilience will translate into higher prices will become clearer in the coming weeks.
A surprisingly weak U.S. jobs report has propelled gold prices to unprecedented levels, reinforcing the precious metal’s status as a haven asset. The unemployment rate jumped to 4.6% in November, marking its highest point in four years. This development coincided with a sharp slowdown in job creation and significant downward revisions to prior months’ data, leading markets to price in a more aggressive path for Federal Reserve interest rate cuts.
The details of the latest employment data paint a concerning economic portrait. The addition of a mere 64,000 jobs in November fell far short of expectations. More alarmingly, the substantial revision to October’s numbers—turning a previously reported gain into a six-figure loss—suggests underlying weakness was present earlier than initially thought.
A significant structural warning signal emerged in the surge of involuntary part-time workers, which increased by 909,000 to 5.5 million. This trend, where businesses retain staff but reduce hours, is often viewed as a precursor to a more pronounced economic slowdown.
This data significantly intensifies pressure on the U.S. central bank. Following its third consecutive rate cut on December 10, market participants are now firmly anticipating further monetary easing in January 2026. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold and typically exert downward pressure on the U.S. dollar, creating a favorable environment for bullion.
Other economic indicators also showed weakness. Retail sales stagnated with 0.0% growth in October, dragged down by a 1.6% contraction in the automotive sector. Furthermore, the manufacturing Purchasing Managers’ Index (PMI) declined to 51.8 points in December.
While gold trends steadily upward, silver’s performance has been even more dynamic. The white metal is currently trading at €55.78 per troy ounce, reflecting a daily increase of 2.78%. Priced in U.S. dollars, it remains firmly above $63 after hitting a record high of $64.66 last Friday. Its approximate 120% year-to-date advance in 2025 significantly outpaces gold’s rally.
Market sentiment remains overwhelmingly positive. Reports indicate that Société Générale has positioned itself with maximum exposure to a continuation of the rally. Goldman Sachs has issued a 2026 price target for gold as high as $4,900. A broader shift from dollar-denominated assets into hard assets is underway, fueled by geopolitical uncertainty and growing skepticism toward digital currencies, which continues to bolster demand for physical precious metals.
As long as U.S. economic data fails to signal a surprising reversal, the path for gold and silver appears tilted upward. The combination of rising unemployment, faltering consumer spending, and the prospect of additional interest rate cuts creates a near-perfect macroeconomic backdrop for precious metals.
As 2025 draws to a close, Solana finds itself in the headlines, though not solely for the price declines currently affecting the broader digital asset space. While the wider crypto market cools and Bitcoin fluctuates around $85,000, the Solana network has faced and passed a significant test of its technical fortitude. This achievement, analysts suggest, may carry more long-term weight than the project’s present price weakness.
Recent events have provided a powerful demonstration of Solana’s underlying strength. On-chain data confirms the network successfully withstood a Distributed Denial of Service (DDoS) attack last week, which reached an intensity of 6 terabits per second. This event ranks as the fourth-largest assault of its kind ever recorded against a distributed system.
The critical distinction lies in the outcome. Unlike previous years, where similar high-load events often triggered network outages, Solana experienced zero downtime this time. Block production continued without interruption, offering compelling validation for the protocol’s recent upgrades. The network effectively demonstrated an ability to withstand state-level attacks without degrading the user experience.
This technical victory unfolds against a backdrop of market pressure. The SOL token is currently battling in a chart-sensitive area, with market experts closely watching the $126 support level. Its decline of approximately 10% over the past month appears less tied to project-specific issues and more a reflection of sector-wide “risk-off” sentiment among investors.
Short-term momentum indicators point to continued selling pressure. A failure for the $126 support to hold could see the price slide toward the $122 to $123 range.
A look at network activity reveals a mixed picture. On one hand, speculative fervor has diminished. Trading volume on decentralized exchanges (DEX) has stabilized yet remains well below the peaks seen in January. The number of weekly active addresses in decentralized finance (DeFi) has also fallen to an annual low of around 2.85 million, hinting at a consolidation of the user base.
Conversely, real-world transactional use is expanding. Driven by stablecoins and merchant integrations, daily payment volumes recently hit a record high. Broader interest remains robust; CoinGecko once again rated Solana as the “most popular blockchain ecosystem,” capturing over 26% of global investor interest. Institutional developments, such as Coinbase’s deeper integration of Solana-based tokens and the blockchain’s adoption by prediction market Kalshi, reinforce this standing.
Heading into the end of 2025, a clear divergence has emerged for Solana between its price performance and its technological prowess. Bears currently control near-term market dynamics, applying stress to key technical levels. Fundamentally, however, the network stands more robust than ever following its defense against a massive attack, temporarily silencing critics of its reliability.
For investors, the immediate direction likely hinges on the $126 mark. A rebound from this level would confirm underlying resilience, while a decisive break below it could open the door to more attractive entry points.
Ethereum Faces Selling Pressure as Key Support Level Tested
The world’s second-largest cryptocurrency is experiencing significant downward momentum this week. A combination of declining network usage and sustained outflows from investment vehicles has pushed Ethereum’s price below the psychologically important $3,000 threshold. This retreat by short-term traders stands in stark contrast to the continued confidence shown by major financial institutions in the blockchain’s long-term potential.
Institutional Confidence Contrasts Retail Exodus
Despite the current price weakness, institutional engagement with Ethereum’s underlying technology remains robust. In a notable show of faith, banking giant JPMorgan recently launched its first tokenized money market fund on the Ethereum blockchain, directly utilizing its infrastructure. Furthermore, on-chain data reveals that only 10% of the total ETH supply currently resides on exchange platforms—a historically low figure. This suggests large-scale holders are not moving to sell. Entities like BitMine are reportedly increasing their holdings counter-cyclically, accumulating during the dip.
U.S. Investors Lead the Sell-Off
Analysts point to activity in the United States as the primary driver behind the slide. Spot ETFs tracking Ethereum have recorded net outflows for three consecutive sessions, with nearly $225 million withdrawn in the latest trading period alone. Market observers also highlight a negative “Coinbase Premium Index,” a strong indicator that selling pressure is originating predominantly from U.S.-based exchanges. At the time of reporting, ETH is trading at $2,931.78, reflecting a weekly loss exceeding 11%.
Network Activity Shows Concerning Decline
Fundamental metrics are flashing warning signs alongside the price action. The number of weekly active addresses on the network plummeted by approximately 26% in December, reaching lows not seen since May 2025. This steep decline correlates with falling transaction counts, indicating that many participants are moving to the sidelines amid uncertain market direction.
Technical Outlook Hinges on Critical Support Zone
For traders, the chart setup is now paramount. A critical support band has formed between $2,850 and $3,000. A sustained break below this zone could trigger a further decline toward the $2,400 level. Conversely, regaining a foothold above $3,100 is viewed as necessary to stabilize the currently damaged technical picture and potentially halt the corrective phase.