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Tag: Solana

  • More pain for Solana (SOL/USD) after a 50% drop

    More pain for Solana (SOL/USD) after a 50% drop

    A seven-day loss of more than 50% sees Solana (SOL/USD) trading at half the value the previous week. The loss is the biggest among the cryptocurrencies in the top 100 categories, except for the embattled FTX exchange. SOL now trades at the lowest level since March 2021. Despite the magnitude, the cryptocurrency could fall further from various insights.

    It is correct to assert that the decline in SOL reflects the liquidity concerns of the collapsed FTX exchange. The fears have caused widespread losses in the market, although SOL buyers have been hit hard. Data by Solana Compass shows that bear pressure on SOL could increase owing to the tokens that could enter circulation.

    Solana Compass says an unprecedented number of SOL tokens are likely to be unstaked. Accordingly, 60,399,401 tokens of estimated $755 million value were shown as “deactivating.” As these tokens get unstaked, the total supply of SOL tokens in the market will rise by 8.8%, forcing further bear pressure. 

    Concerns about SOL’s increased supply come when Solana’s Epoch 370 ends. “Epoch” refers to the period when staking rewards are earned and then issued. During the period, validators lock their tokens and unlock them when it ends. The unlocking has been responsible for the huge price crash. Technical pointers also indicate a further bearish momentum after bulls lost a key level.

    SOL crashes after losing the $28 support

    Source – TradingView

    On the weekly chart, SOL is oversold (RSI reading of 31) and is on a free fall. The key level at $28 was breached, welcoming a further bear market for the token.

    Should you buy the SOL dip?

    SOL is currently without breaks after crashing below $28. The only price direction at the moment is down. The token is not a recommended buy.

    The likely support of SOL lies at $12, a potential decline of $25%. The established long-term support is at $3. With the bear market remaining in place, we cannot rule out SOL trading at a single-digit price.

    Where to buy SOL

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SOL with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy SOL with Binance today

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  • Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) jumped to a 2-month high of $38.7 over the weekend. The strong recovery happened after Google Cloud announced it had become a Solana validator.  

    Google Cloud further said it would continue working with the Layer-1 blockchain. The partnership will see the introduction of Blockchain Node Engine to the blockchain in 2023. Solana is now expected to become the payment service for Google Cloud services.

    Aside from the recent developments, Solana has witnessed increased growth. In late September, the total transactions on the blockchain rose past the hundred billion mark for the first time. Of course, that comes when Solana enthusiasts continue to express concern over the frequent network outages. The increasing adoption means investors see real use cases for the proclaimed Ethereum killer.

    Elsewhere, a pseudonymous crypto analyst Cantering Clark is too optimistic about SOL recovery. In a note to his 149,500 Twitter followers, Clerk says SOL is forming a multi-month base. He posits that the cryptocurrency is taking out a diagonal resistance and is consistently getting a green light.

    Aside from the positive fundamentals, technical indicators show SOL attempting to break a key level.

    SOL rejected at $37, another attempt for buyers to push higher?

    Source – TradingView

    Technically, SOL was rejected at the $37.6 resistance zone. The token attempted a breakout after a strong rally over the weekend. The jump helped the cryptocurrency to recover above the 50-day MA for the first time since mid-August.

    The MACD indicator shows a bullish momentum for SOL. However, the momentum has slightly weakened after a 10% SOL price drop on Monday.

    Will SOL go higher?

    The $37.6 is the key litmus test for SOL. There is already an indication that buyers are rejecting a price drop below the 50-day MA. Should buyers remain resilient, we vouch for SOL’s break above $37.6. That will open a buy trade and set it for a price increase to $42 and the main resistance at $47.

    Another price rejection at $37.6 could see buyers wait longer for SOL to go higher. If the price breaks below the moving averages, a bear market could continue for SOL.

    Where to buy SOL

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy SOL with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy SOL with Binance today

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  • Solana (SOL) And Shiba Inu (SHIB) Loses to The Hideaways (HDWY) as Price Predictions Look Weak

    Solana (SOL) And Shiba Inu (SHIB) Loses to The Hideaways (HDWY) as Price Predictions Look Weak

    Solana, Shiba Inu, and The Hideaways might gain more momentum in the coming days as per recent crypto price prediction reports.

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  • Will Flasko (FLSK) be the Shiba Inu (SHIB) and Solana (SOL) of the Next Bull Run? – CryptoMode

    Will Flasko (FLSK) be the Shiba Inu (SHIB) and Solana (SOL) of the Next Bull Run? – CryptoMode

    Each bull run has new shiny projects that steal the show. The 2020 – 2021 bull run had several cryptocurrencies that increased significantly in value.

    Shiba Inu (SHIB) gained a massive 46,000,000% in 2021. Although it is just a meme coin, it outperformed several cryptocurrencies by a mile. Solana (SOL) was another big gainer as its price skyrocketed from under $1 in 2020 to a high of $258 in 2021.

    The hunt for the next crypto gem is on, and Flasko is a new cryptocurrency project that investors should seriously look at.

    Also Read: BlueZilla Launches LUNCHBOX – Decentralized Prediction Platform for $LUNC Burning

    How Shina Inu (SHIB) and Solana (SOL) Succeeded in the Last Bull Run

    Shiba Inu (SHIB) had a roller coaster ride as its market cap soared beyond what many thought possible. Shiba Inu’s token, SHIB, made significant gains that are a cocktail of many factors.

    Shiba Inu (SHIB)’s value rose as several cryptocurrency exchanges listed the SHIB token. This increased Shiba Inu’s community because many people had access to it.

    A strong community is one of the key components that drive the success of a cryptocurrency project. A good example is Chainlink, a leading cryptocurrency that owes much of its success to work done by a community known as the Link Marines.

    The launch of the ShibaSwap decentralized exchange was another key factor that contributed to Shiba Inu’s historic run. The decentralized exchange allowed SHIB holders to stake their tokens and earn passive income. This incentivized holding and, in the long run, romped up SHIB’s demand.

    And Shiba Inu’s biggest secret weapon is its ability to create social media buzz. It is common knowledge that a cryptocurrency can surge significantly if it can create social media hype. Shiba Inu (SHIB) did just that, and crypto investors’ appetite for the meme coin increased.

    Shiba Inu’s success was one-of-a-kind. However, other cryptocurrency projects, such as Solana (SOL), had a great run too.

    Solana (SOL) is a layer 1 blockchain that competes with the likes of Ethereum. Its major selling point was that it was faster, cheaper, and more scalable than Ethereum. In essence, it had great utility and was solving a problem that the blockchain world required. 

    Will Flasko Headline the Next Bull Run?

    No one knows when the next bull run will be, but it is coming. And when it comes, will Flasko be in the headlines?

    Flasko is an alternative investment platform that aims to bring the world of whiskeys, wines, and champagnes to the cryptocurrency sector. Flasko claims to be the first to go this way. This gives Flasko a big headstart. 

    Flasko has great tokenomics, with a significant portion of its total token supply reserved for marketing, partnerships, and exchange listing. 

    If the FLSK token is listed on major exchanges, this could unlock new potential investors. This increases liquidity and, in turn, drives FLSK’s price higher. 

    As it reaches more people, Flasko will likely build a bigger, strong, and more vocal community that would support the project. 

    Flasko seems to have what it takes to be the Shiba Inu (SHIB) or Solana (SOL) of the next bull run. However, what matters more is that investors start buying the FLSK token during the ongoing Flasko presale.

    Website: https://flasko.io

    Presale: https://presale.flasko.io

    Telegram: https://t.me/flaskoio

    Twitter: https://twitter.com/flasko_io

    Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff. 

    CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio.
    Contact us if you have any questions: [email protected]
    None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.



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