Solana Drops Close To 20%, Imminent Rebound Or Start Of Correction?
Solana has been caught in the crossfire as investors woke up to a bloody Monday due to hurdles in the Asian markets. The top cryptocurrencies by market cap are in the red recording moderate to heavy losses in the 24-hour chart. Solana Follows The General Sentiment In The Crypto Market At the time of writing, Solana (SOL) trades at $143,53 with a 10.9% loss in the daily chart. In the weekly chart, the cryptocurrency is amongst the worst performers on the crypto top 10 with a 17.9% loss. After Solana, Polkadot (DOT) is the closest to record similar losses for the weekly chart with 17.6%,....
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A top performer in the crypto market, Solana (SOL) continues to attract attention from institutional investors and strengthen its fundamentals for future gains. In that sense, the ecosystem build on top of this network seems poised to become the prime contender to take over a portion of Ethereum’s market share. Related Reading | Solana Breaks $80 Barrier, Why It Could Still Climb 4x From Here Billionaire and early Bitcoin investors Chamath Palihapitiya recently revealed a co-leading position in Syndica, a Solana’s infrastructure developer, seeding round. The investment was made via....
The bear flag setup for SOL price could result in another interim relief rally amid macro headwinds. Solana (SOL) dipped to a two-week low at around $35.50 on July 26, mirroring downside moves elsewhere in the crypto market. Nonetheless, the technicals suggest that Solana's price flirts with the prospects of rising 40% in August.SOL hits key inflection pointIronically, the bullish setup for Solana emerges out of a classic bearish continuation pattern.On the daily chart, SOL's price has been consolidating inside what appears to be a "bear flag," a technical pattern that develops during a....
A rebound towards the upward trend continues. Will there be a trend on the weekend? What is the likely point of start of the new impulse? The minimal target of a rebound towards the whole upward movement which started at $403 has not been reached. There won’t be a full correction until we see one more downward wave. The $412 level is profitable for the bears, because it’s the “cheapest” price for further movement within the upward trend. That point will be the minimal target for a rebound.
Solana was trading close to 15% higher on Tuesday, as crypto markets were mostly in the green to start February. This comes as markets look set to move past January’s red wave.
Biggest gainers
Cryptocurrency markets were mostly bullish during Tuesday’s session, with several projects seeing their value rise to start the new month.
One of these was solana (SOL), which, as of writing is up 14.04%, hitting an intraday high of $108.32 in the process.
This move comes as SOL/USD broke out of its resistance level of $100 for the first time since....
The Solana smart contract project is suffering from issues once again after it was discovered that close to 8,000 Solana-based wallets have been compromised. Solana is asking victimized wallet owners to complete a survey and the team stressed that “engineers are investigating the root cause.” Solana Investigates Massive Wallet Exploit, Root Cause of the Hack Is Still Unknown After the chain had halted on a few occasions in the past, Solana users are now dealing with an extensive wallet vulnerability that affected specific wallet software such as Phantom and Slope. Solana....