Solana Is Up 520% In 1 Year: Why Is This Metric Worrying For Bulls?
Solana (SOL) has been soaring, looking at the performance in the daily chart. At spot rates, the coin is trading above $50, up 520% in the past year when it slipped below $8 following the collapse of FTX, a now-defunct crypto exchange, and Alameda Research, a trading wing linked with FTX and one of the leading crypto market makers. Solana Blistering Rally At The Back Of Dropping Liquidity? Though Solana is “blistering” and at new 2023 highs, Kaiko, a crypto analytics platform, is concerned about the disparity in liquidity in USD and “native unit” terms. Typically,....
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Bulls pushed back and momentarily halted the increasing selling pressure impacting Cardano, Solana, and Ethereum. The altcoin market has been stabilizing over the last day, but fresh data points to potential issues in the short term. Related Reading: Standard Chartered Says Ethereum Price Can Reach $35,000, Here’s When As of this writing, Cardano (ADA) trades at $0.23 with sideways movement in the past day. Solana and Ethereum recorded similar price action over this period, but these assets have been slowly bleeding into support on the weekly chart. Cardano, Solana, And Altcoins Could Get....
On-chain data shows Solana (SOL) has seen its spot value drop under the Realized Price for the first time in three years following the recent bearish action. Solana Has Just Seen A Breakdown Of The Realized Price According to data from the on-chain analytics firm Glassnode, Solana has slipped around 8% below its Realized Price. The “Realized Price” is an indicator that basically tells us about the cost basis of the average investor or address on a given network. Related Reading: Dogecoin To $2 Could Be Next If DOGE Holds This Level: Analyst When the spot price of the asset is....
Raoul Pal, the founder of Real Vision and one of crypto frequent commentators, thinks SOL, the native currency of Solana, a smart contract platform, has “been extremely bullish all year.” In Pal’s assessment, the coin will likely double in the next few sessions, especially if there is a welcomed breakout above the immediate liquidation level. Taking to X on October 20, the founder noted that SOL has rallied by 171% in 2023 alone. At the same time, looking at technical candlestick arrangements, the immediate resistance level that traders should watch out for is $30. This....
The on-chain analytics firm Glassnode has revealed how Solana has recently shown more resilience than Bitcoin and Ethereum in this indicator. Solana Has Seen A Smaller Decline In Hot Capital Than Bitcoin & Ethereum In a new post on X, Glassnode discusses how the various top coins in the cryptocurrency sector have performed in terms […]
Solana price action indicates that bulls are attempting to regain the market. SOL prices begin the daily trading chart in a horizontal trend. As the market encounters resistance at the $100.5 level, solana prices are trading close to $100. Bulls will attempt to drive prices higher in order to reclaim the $101 level. If prices can be pushed below $99.5, the bears will be able to take control of the market. In the previous 12 hours, Solana prices have fluctuated between $97.10 and $100.54, with the cryptocurrency gaining 0.11%. Solana Recovers Above $100 As the cryptocurrency trades near to....