Solana Fails To Hold $30 Support, How Cheap Will Solana’s Price Be?
SOL price struggles as $30 support failed to hold, with many buyers sweating on their open SOL position. SOL price breaks below 50 and 200-day Exponential Moving Average; the price continues its range around the $30 mark. The price of SOL could restest $24-$16 if the price maintains a bearish structure. The price of Solana (SOL) has struggled recently to reclaim its bullish strength against tether (USDT) but was unable to as the price hit a new fresh rock. The crypto market faced a new drawback as Bitcoin (BTC) price dropped from a region of $19,000 to $18,100 as the Consumer Price....
Related News
Solana’s outages could be interpreted as mere hiccups in a new blockchain, but some suggest there’s cause for concern. Solana is a highly scalable decentralized blockchain developed with a unique method of ordering transactions that significantly improves its transaction throughput, to the point that it has consistently been processing over 2,500 transactions per second. It claims to be able to process 50,000 transactions per second.The power of Solana’s cheap transactions is felt when it’s time to pay transaction fees, with users being able to move funds on the network for a fraction of a....
SOL price trades below 50 and 200 EMA on the daily timeframe despite showing some relief strength. SOL rally caught short as BTC price continued to range. The price must hold $30 support or face a drop-down to a weekly low. The price of Solana (SOL) has recently shown some bullish strength, but it has struggled to break above key daily resistance against tether (USDT). Solana (SOL) prices have continued to fluctuate as bulls and bears play chess with SOL. SOL’s lack of bullish strength has left many traders and investors perplexed as to where it might go next. (Data from Binance)....
Solana has fallen on its chart over the last 24 hours by 2%. Over the last 24 hours, there has been strong bearish influence on SOL’s price. Currently the coin has found support on the $34 level. The market also has been taken over by the bears, Bitcoin has been hovering around the $20,000 mark for the last 24 hours. Other market movers have also retraced in their respective charts. Technical outlook of the coin continues to point towards negative price action suggesting that price of Solana can fall further. Selling pressure in the market has started to mount indicating that price....
SOL price continues to trend downwards as price remains bearish with price trading on key support. SOL trades below 50 and 200-day Exponential Moving Average as price struggles to regain bullish signs. The price of SOL needs to break and hold above the key resistance of $45 to resume bullish price movement. The price of Solana (SOL) continues to struggle to discover its bullish trend as the price fails to break the key resistance of $35 against tether (USDT). The previous weeks saw the crypto market cap as good as Bitcoin (BTC) prices and other crypto assets. Still, the price of Solana....
While some piled on the layer-one blockchain for its network hiccup, others offered support. Yesterday, a nearly six hour network outage from Solana, a layer-one blockchain known for its high throughput, drew both jeers and support from traders and developers across the smart contract space. “At approximately 1:46pm UTC on December 4th, 2020, the Solana Mainnet Beta cluster stopped producing blocks at slot 53,180,900, which prevented any new transactions from being confirmed,” a live update blog post from Solana reported. The outage lasted roughly five and a half hours before over 200....