Solana (NFT Coin) Bullish Week Analysis.
Solana(SOL) is an NFT(non-fungible token) coin, it's a high-performance blockchain supporting builders around the world creating crypto apps.
Ranked at No.15 on CoinMarketCap with current price at $35.11(At the time I was writing this article).
Some time last week Solana(SOL) sold off hard to the 24.509 support area. This area was so important because it marked the Level where the coin's bull run started.
As price got to the 24.509 support area it dip below the support a bit and bounced off the support area with a big bullish candle.
Looking at the chart you see how price moved away from the support area and move to the next resistance with great momentum from support area of 24.509 to resistance area of 35.445.
Then price moved above the 35.445 resistance area, then came back to test the former resistance area turned support, it will interesting to see what price will do next, either respect the new support and head for the next resistance area at 42.392 or breaks the newly found support.
Posted Using LeoFinance Beta
solana is a strong and promising cryptocurrency which i am very interested in. one of the reason why i love solana is that the value is very strong.
what i mean by strong value is that, when the market started becoming bear market, when the china fud started and elon musk tweet about tesla not accepting Bitcoin as payment method.
the market started dropping heavily, since Bitcoin is the father of all cryptocurrency, anytime it drops it affects every cryptocurrency.
Bitcoin dropped from $63,000 and to $30,000 it halved, meanwhile ethereum also dropped from $4,000 to $2,000 and bnb also from $600 to $200.
but the case of solana is very different it was, it dropped from $45 to $30 randomly it has a strong support that is one of the reason i love it
Yes, Solana is a very good project and I really love the coin.
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