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The price of Solana has decreased more than 13 % in the past 24 hours for trading at $ 141.58 from 9:53 pm EST, as investors have downloaded their holdings in Crypto on the market.
The decrease in the Sol price comes after the Wintermute market withdraw 40 million dollars from the Sol from the Crypto Exchange Binance leadership before opening a symbolic code of $ 2 billion, the largest in the history of Solana. This step has sparked concerns about selling pressure with the exacerbation of market morale.
The price of Solana rest for support
4 hours for Sol/USD (Source: Geckoterminal)
the Solana The price rests at the main support level at $ 140.05, according to Geckoterminal. If Altcoin decreases from this artistic crutch in the coming hours, this may be at the risk of finishing to $ 122.74 in the short term.
In a more upward scenario, merchants may end up setting the current Sol price as a opportunity to buy. This may lead to a recovery of $ 140.05 support and a potential test of $ 161.98, which has turned into resistance over the past 24 hours. The candle can give 4 hours from $ 161.98 the price of Solana, which the basis need to rise to $ 185.06.
Technicians suggest that the price of Solana will continue to decrease
From a technical point of view, indicators warn on the graph for 4 hours that the encryption price may continue to decrease in the next few hours. More specifically, the difference in moving average rapprochement (MACD) and the RSI indicator offered to hoopy signs.
Over the past 24 hours, RSI readings have decreased along with Solana’s price. This sharp decrease in the indicator’s values ​​indicates a strong decrease in the strength of the buyer and the power of the overwhelming seller. Now, RSI in deep sale lands in about 16.
Although the low RSI reading can be considered as a purchase sign, given that it indicates that Sol bullish potential is currently greater than its negative potential, the negative slope of the RSI line still controls Solana price. It is not uncommon for the RSI values ​​to remain low for sustainable time periods when an encryption is thrown.
Meanwhile, the momentum prefers the bears, as it suggested locating the MACD line at the bottom of the MACD signal line. With the increasing gap between the technicians, sellers seem to show no intention to reduce their pressure on the Solana price as well.
With the price of Solana at the mercy of sellers and negative morale in the market, investors are likely to turn into a new prior symbol for Sol Layer-2 named Solaxy (Solx) To protect the capital. The new Crypto has not yet been exposed to the wider markets and the famous YouTube channel 99bitcoins, with more than 725 thousand subscribers, believed to be 100x after launch.
Solana moved to the next level
Solana has become crowded due to the noise around Seoul’s metal currencies in the past few months. With the popularity of these symbols continuing to height, the developers are looking for the TV to take advantage of the trends launched on new Mimi currencies on a daily basis. If nothing changes soon, the Solana network stands up to another interruption.
Solaxy, with Solana Sidechain and Scaling Network technologies, Solana Network, will be given the largest upgrade to date, and raise the capabilities of processing its transactions to the next level. The project will be operated in parallel with Solana Mainnet and takes over the largest part of the work burden in Blockchain.
Once launched, Solaxy Sidechain will process transactions from Solana Blockchain, collect them together, then send transactions to Mainnet Layer-1 to final verification and save records. This approach has already been proven to process transactions as a viable way to expand the network within the ETHEREUM ecosystem.
Solaxy will not only expand the productivity of Solana transactions, but the network will also display a larger part of the web3 community by blocking Solana and Ethereum networks. When doing this, the project will create a super -infrastructure that combines the ETHEREUM Defi ecological system, high Solana speeds and low fees.
In this new infrastructure, SOLX will be placed as a primary and cost -effective transaction between two Blockchains in the encryption space.
Solaxy Presale goes equivalent
Solaxy has managed to raise more than 23.4 million dollars through a period between them so far, indicating a strong investor confidence in the future of the project.
Anyone who wants to enter the terrestrial stages of the project can do this by getting Solx through a simple purchase tool on the project site. Selling of $ 0.001646, encryption can be purchased either using Crypto or Bank Card.
Buy and share SOLX here to open APY by 173 %.
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