The market is hot, but Solana is not — Data explains why SOL price is lagging
SOL price has been in a 3 month downtrend, but recent newsflow and events could trigger a reversal. Solana (SOL) has been in a steady downtrend for the past 3 months, but some traders believe that it may have bottomed at $26.80 on Oct. 21. Lately, there's been a lot of speculation on the causes for the underperformance and some analysts are pointing to competition from Aptos Network.Solana price at FTX, USD. Source: TradingViewThe Aptos blockchain launched on Oct. 17 and it claims to handle three times more transactions per second than Solana. Yet, after four years of development and....
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Bitcoin tails the gold market but with a delay. And the lagging correlation now suggests that the cryptocurrency would rise to $25,000.
Crypto analyst Jacob Canfield has laid out a comprehensive analysis, suggesting Solana (SOL) could be on the brink of an unprecedented market surge. “In my opinion, I think that Solana is going to continue to be one of the biggest movers during this current bull market cycle,” Canfield states, proposing that Solana could potentially escalate its market dominance to the 12-15% range. Can Solana Hit $1,000? Canfield bases his analysis on several indicators. He highlights the Solana Dominance (SOL.D) chart, noting that at the peak market cap, it didn’t even crack 3%. Given....
Solana is one of the top networks, commanding a market cap of over $81 billion, according to CoinMarketCap data. Even as crypto prices rise and sentiment improves, SOL has struggled for momentum. Solana Retraces: Will Prices Break $200? Over the past week of trading, market data shows that SOL is stable, posting a 3% dip […]
After an eventful weekend, the Solana price was able to cross the resistance at $200, and despite the market retracement, bulls have managed to hold this level and turn it into support. With the bullish momentum still going, the altcoin could be set for a further surge. While it is yet to cross its January all-time high of $294, a blooming rally suggests that it may be time for the cryptocurrency to barrel through and retest the resistance at this level. Solana Price Is Still Firmly In Bullish Territory In an analyst, crypto analyst Mihai Lacob explained that the Solana price is still....
Solana, Bitcoin, Ethereum, and the broader crypto market experienced a tumultuous start to the week, with one of the most severe price crashes since the collapse of FTX. While macroeconomic factors were primarily responsible for this downturn, substantial sell orders from Jump Crypto, a division of the prominent Chicago-based quantitative trading firm Jump Trading Group, also played a significant role. In the 10 days leading up to the crash, Jump Trading transferred $277 million worth of ETH to various exchanges, significantly intensifying selling pressure across the cryptocurrency market.....