Solana (SOL) Turns Positive Amid Market Calm — Does the Trend Have Legs?
Solana started a recovery wave above the $162 pivot zone. SOL price is now consolidating and faces hurdles near the $172 zone. SOL price started a decent upward move above $160 and $162 against the US Dollar. The price is now trading above $162 and the 100-hourly simple moving average. There was a break above a contracting triangle with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could continue to move up if it clears $168 and $172. Solana Price Starts Recovery Solana price extended losses below $150 before the bulls appeared, like....
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Data shows social media sentiment around Solana has hit a 11-week high following the latest recovery surge in the cryptocurrency’s price. Solana Is Now Observing 5.8 Bullish Comments For Every Bearish Post In a new post on X, analytics firm Santiment has discussed about the latest trend in the Positive/Negative Sentiment for Solana. This indicator tells us about how the bullish and bearish comments related to SOL currently compare on the major social media platforms. The metric uses a machine-learning model to judge whether a given post/thread/message is positive or negative. Once it....
The cryptocurrency industry has demonstrated a strong positive trend throughout the course of the week, with leading cryptocurrencies experiencing substantial increases in their market value. Moreover, the price of Solana (SOL) has exhibited superior performance compared to prominent cryptocurrencies, experiencing a notable increase of more than 34% in value over the course of one week. Solana is a widely recognized Layer-1 network renowned for its scalability. The Solana network is characterized by its rapid confirmation times and has a thriving ecology and community. Over the course of....
What to Know: 1️⃣ The Federal Reserve’s hawkish tone led to roughly $360M in crypto fund outflows, but yield-oriented assets like Solana defied the trend with inflows exceeding $260M through the new Bitwise Solana Staking ETF (BSOL). 2️⃣ BSOL’s 7% staking yield and $222M seed capital highlight growing institutional interest in Solana-based products amid broader […]
As the month nears its end, the crypto market turns momentarily red, with Solana (SOL) retesting a crucial support level that could determine its short-term performance. An analyst suggests that holding the current range over the weekend will be key for the long-awaited rally back to $200. Related Reading: Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead? Solana Hits Multi-Week Low Amid the crypto market pullback, most cryptocurrencies are recording a red Friday, with Bitcoin (BTC) and Ethereum (ETH) momentarily losing some key levels. Solana, one of the....
The broader crypto market remains in a bad state regardless of the few positive movements of some tokens. Even popular tokens like Bitcoin and Ethereum do not give investors any hope. This is evident from their current prices of $19,005 and $1,282, respectively, according to data from CoinMarketCap. Multiple factors are backing up the present state of the crypto market. One is the Fed’s quantitative tightening in the Q2 of 2022. While investors have that to contend with, the negative Consumer Price Index (CPI) value released in September has also affected the market. Related Reading:....