Solana Project Overview + Chart Fully MappedAbout Solana
Founded by former Qualcomm, Intel, and Dropbox engineers in late-2017, Solana is a single-chain, delegated-Proof-of-Stake protocol whose focus is on delivering scalability without sacrificing decentralization or security.
Core to Solana's scaling solution is a decentralized clock titled Proof-of-History (PoH), built to solve the problem of time in distributed networks where there is not a single, trusted, source of time. By using Verifiable Delay Functions, PoH allows each node to locally generate timestamps with SHA256 computations. This eliminates the need for the broadcasts of timestamps across the network, improving overall network efficiency.
Source: Coinmarketcap.com
Website: solana.com
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Here we have SOLBTC (Solana), this is a young chart so we have little info, it becomes harder to read future movements without history.
Here I've marked the different support and resistance levels using the Fibonacci tool.
Prices for SOLBTC are trading above EMA50 and also the 0.382 Fib. extension level, which we can take as a strong bullish signal.
The RSI and MACD are also looking bull.
If prices remain above the black dashed line, SOLBTC can easily move higher.
On a drop, the dashed/dotted lines below EMA10 (in green) will work as support.
Right now the bulls are in control.
Namaste.
