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Solana Bounces Back: A Testament to Resilience Amidst Adversity Solana enthusiasts can breathe a sigh of relief as the cryptocurrency makes a remarkable recovery following a recent network outage. After experiencing a temporary setback, Solana ( CRYPTOCAP:SOL ) has surged by 6%, reclaiming lost ground and igniting optimism within the community. Bullish Trends in Cryptocurrency Market Fuel Solana's Rebound The resurgence of CRYPTOCAP:SOL mirrors broader bullish sentiment across the cryptocurrency market. With Bitcoin leading the charge with a 4% increase in the past 24 hours, Solana's upward trajectory underscores renewed investor confidence amidst market volatility. From Outage to Opportunity: Solana's Remarkable Resilience Solana's ( CRYPTOCAP:SOL ) swift rebound serves as a testament to its resilience in the face of adversity. Despite encountering a significant network outage, Solana has demonstrated its ability to recover swiftly, showcasing the robustness of its underlying technology and the unwavering support of its community. Analyzing SOL's Price Fluctuations Following the recent network outage, CRYPTOCAP:SOL 's price experienced a notable fluctuation, dropping to a weekly low of $93 before rebounding to its current standing at $104.3. This upward movement signals a strong recovery, with CRYPTOCAP:SOL surpassing key resistance levels and exhibiting bullish momentum. Industry Experts Bullish on Solana's Future Renowned figures within the cryptocurrency space, including Arthur Hayes and Sam Bankman-Fried, have expressed bullish sentiments towards Solana's prospects. Their endorsement underscores the confidence in CRYPTOCAP:SOL 's resilience and long-term viability, despite recent challenges. Solana's Role in the Broader Crypto Market Solana's resurgence coincides with a broader uptrend in the cryptocurrency market, with the total market cap surpassing $1.79 trillion. As one of the top 10 cryptocurrencies by market capitalization, Solana's performance contributes to the overall bullish sentiment, signaling potential opportunities for investors. Conclusion Solana's recent recovery from a network outage showcases its ability to overcome obstacles and adapt to evolving market conditions. With expert endorsements, and a resilient community, Solana stands poised to capitalize on future opportunities and solidify its position as a leading player in the cryptocurrency landscape.
COINBASE:SOLUSDLong
by DEXWireNews
SOLANA Eyes $200 WIth This Break!Bullish Turnaround Above $100: SOL price has reclaimed the $100 mark with a bullish turnaround this week. 4.41% Overnight Jump: There was a significant 4.41% increase in SOL price, forming a bullish engulfing candle. Potential to Reach $125: Crossing the $102 neckline could propel SOL to reach $125 in the near future. Trend Reversal Fuels Momentum: This week's trend reversal above the $100 mark refuels bullish momentum in SOL. Trading Above 50D EMA: SOL sustains above the 50-day EMA, indicating a strong bullish presence. Breakout of Multi-contact Resistance: SOL is preparing for a breakout, which could cement its bullish trend. Inverted Head and Shoulder Pattern: A potential inverted head and shoulder pattern with a neckline at $102 suggests an upcoming breakout. Resistance at $102: The $102 level is a significant resistance, marking a high supply zone. Current Trading Price: SOL is trading at $100.98, hinting at another breakout attempt soon. Technical Indicators - RSI: The RSI indicator shows a positive trend, indicating a rise in demand and potential for a breakout run. Possibility of Rally to $200: With an anticipated breakout, SOL has the potential for a significant rally, possibly beyond $125. Entry Point for Sideline Traders: Exceeding the $102 mark could provide an entry point for traders, with a downside risk of retesting the $82 mark.
COINBASE:SOLUSDLong
by Coinpedia-Market-Insight
Unveiling Crypto Market Insights: Solana outageGM Bitstampers, Solana Manlets, market enthusiast and everyone reading this post! Today we will discuss how news and events can impact markets. Perception of positive and negative events in different market conditions Market reactions to news/events, both good and bad, vary significantly between bull and bear markets. In bull markets, optimism can minimize the impact of bad news, with investors often buying the dip, while good news can fuel further gains. Conversely, bear markets see bad news exacerbating sell-offs due to prevalent pessimism, and good news may have a muted positive effect, if any. Burton Malkiel's "A Random Walk Down Wall Street" and Robert Shiller's "Irrational Exuberance" offer insights into these dynamics, highlighting how investor sentiment and behavioral finance play crucial roles in how news is received and acted upon. While they don't specify these reactions directly, their discussions imply that the market's overall mood significantly influences reactions to news. Warren Buffett's investment philosophy, advocating for contrarian approaches—being cautious amidst widespread optimism and finding opportunities in pessimism—echoes this sentiment, underlining the different impacts of news based on the market's phase. This suggests a complex interplay between market psychology and the nature of news, shaping the financial landscape's responses in varied market conditions. Solana outage Yesterday's Solana outage began at approximately 09:53 UTC. Block production on Solana mainnet beta resumed at 14:57 UTC, following a successful upgrade to v1.17.20 and a restart of the cluster by validator operators. The outage lasted ca. 5 hours, within the time period the price recovered the entire dip and closed the day higher than before the outage started. Do you believe news affect the market? Do you think good/bad news and events are perceived differently in bull/bear markets? Let us know in the comments.
BITSTAMP:SOLUSD
by Bitstamp
A Major Network Outage in SolanaA Major Network Outage in Solana Had Little Impact on the SOL/USD Exchange Rate Solana, one of the fastest-growing blockchain networks, experienced significant outages yesterday, starting around 13:00 GMT+3. As a result of the outage, users and developers were unable to process transactions and interact with applications. Solana engineers quickly released a patch required for the restart. And about four hours later, the network came back online, as validators, collectively controlling 80% of SOL staking, updated to the new version. This is not the first time the Solana network has experienced downtime. According to SolanaCompass.com, the main Solana network has been in "beta mode" (error detection mode) since March 2020 and is still operating as such. Approximately 1.7 billion dollars' worth of capital is locked in the project's network, and SOL, its native token, ranks as the fifth-largest cryptocurrency with a market capitalization of nearly 42 billion dollars. In 2023, the SOL/USD rate rose by a staggering +960%, and fortunately for investors, yesterday's outage had little impact on the price of the Solana token (and other crypto assets). Meanwhile, today's SOL/USD chart shows an interesting picture – the price seems to have temporarily stalled before choosing a direction in which to move: → On the one hand, the SOL/USD price is within the bounds of an ascending uptrend (shown in blue), which began in 2023; → On the other hand, the chart outlines a descending channel (shown in red). Meanwhile, the Bollinger Bands width indicator is at minimal values, as if hinting that the SOL/USD price exiting the triangle forming on the chart (shown in black lines) may be associated with increased volatility and the formation of a new important swing. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
COINBASE:SOLUSD
by FXOpen
3
SOL is stopped?This seems to be the end for SOL, next the asset will fall and crash.... Just kidding. Solana software architects again forgot to run tests for one of the functions that defines the block validator. Because this function stopped working, there was essentially no one to validate the block and the blockchain stopped working. This is certainly unpleasant news, but it is not critical. Let me tell you a secret, there is a chance that any L1/L2 blockchain can stop working. Dump your bags, papperhands. Im waiting for it Targets still same.
COINBASE:SOLUSDLong
by Samura0x
Solana's Ascent Towards $200: A Q1 2024 OutlookBreakout Hesitation: Despite breaking past a key trendline, SOL's ascent stalls as it flirts with the $100 milestone, signaling a crucial moment for bullish momentum. 50D EMA Support: Solana holds its ground above the 50-day EMA, hinting at underlying strength amidst slow price actions. Potential for Surge: A resurgence in buying power could catapult SOL beyond $150, setting the stage for a significant rally. Ethereum's Influence: Ethereum's strengthening against Bitcoin may herald a broader altcoin rally, providing a conducive backdrop for Solana's potential surge. Bitcoin's Bullish Signal: The crypto market braces for a significant upswing, supported by substantial BTC accumulation by miners and exchanges, underscoring a bullish outlook for SOL. Technical Setup: SOL's price hovers at $95, presenting a Doji candle that underscores market indecision but maintains a positive stance above critical support levels. RSI Optimism: The daily RSI for Solana suggests a brewing comeback, with a slight divergence pointing towards potential bullish momentum. Market Anticipation: The crypto community eyes the $100 and $125 levels as pivotal for Solana's journey towards $200, closely monitoring for a decisive breakout. Entry Strategy: Investors remain on the lookout for a solid push above $100 as a sign to engage, amidst speculative forecasts of Solana revisiting or surpassing the $200 threshold. Risk Awareness: The possibility of a pullback to $82 remains a consideration, urging caution among traders navigating Solana's volatile landscape.
COINBASE:SOLUSDLong
by Coinpedia-Market-Insight
Solana Mobile Chapter 2: A Revolutionary Leap in Web3.0 Accessibility and Preorder Frenzy Solana Mobile has set the stage for a groundbreaking release with its upcoming Chapter 2 device. The company recently announced that it has shattered its own preorder records, amassing over 60,000 pre-orders for the eagerly awaited Android device within a short span. This remarkable achievement underscores the growing anticipation and interest in Solana's commitment to bringing Web3.0 solutions to a global audience. Preorder Success and Milestone Achievement: Solana Mobile's Chapter 2, introduced earlier this year for pre-orders, has witnessed an unprecedented level of enthusiasm from consumers. Within just 48 hours of the announcement, an impressive 30,000 units of the Chapter 2 phones were purchased, setting a new milestone for the company. Solana Mobile views this achievement as a significant step towards realizing its overarching goal of making Web3.0 solutions accessible on a global scale. Features and Upgrades: The Chapter 2 device is the enhanced successor to the Solana Saga phone, sharing key specifications such as the powerful Snapdragon® 8+ Gen 1, 12GB of RAM, 512GB of Flash storage, and a 6.67” OLED display. However, Solana Mobile promises more than just incremental improvements. Notable upgrades include a hardware overhaul, an integrated crypto wallet, customized Android software, and a dedicated "DApp store" for crypto applications. Innovative Incentivization Scheme: One driving force behind the soaring preorders is the innovative incentivization scheme that Solana Mobile has attached to the purchase of Chapter 2. Buyers are not only securing an advanced mobile device but also receiving non-transferable tokens, including coveted Non-fungible tokens (NFTs). This unique approach mirrors the successful strategy employed with the Solana Saga, where customers received a $100 refund and BONK meme coins as incentives. Speculation Surrounding Token Giveaways: The mention of token giveaways has sparked speculation among Solana Mobile enthusiasts, with many anticipating a similar SEED_DONKEYDAN_MARKET_CAP:BONK meme coin giveaway as seen with the Solana Saga. However, it remains uncertain if Solana ( CRYPTOCAP:SOL ) will incorporate this meme coin into its marketing strategy once again. The element of surprise adds an extra layer of excitement and curiosity among potential buyers. Impact on Solana ( CRYPTOCAP:SOL ) Coin: While Solana ( CRYPTOCAP:SOL ) has experienced a period of sideways fluctuation, the growing traction and buzz surrounding the Solana Mobile Chapter 2 are expected to positively impact the coin's price in the coming days. This symbiotic relationship between the device's popularity and the cryptocurrency's performance highlights the interconnected nature of the blockchain and mobile technology sectors. Looking Ahead to 2025: Despite the current buzz, consumers will need to exercise patience as the official launch date for Solana Mobile Chapter 2 is set for 2025. This extended timeline builds anticipation and allows Solana Mobile to fine-tune the device, ensuring that it meets and exceeds the expectations of an eagerly awaiting user base. Conclusion: Solana Mobile's Chapter 2 is not just a phone; it represents a leap forward in the evolution of mobile technology and blockchain integration. With record-breaking preorders, cutting-edge features, and an innovative incentivization scheme, the Chapter 2 device is poised to redefine the landscape of Web3.0 solutions. As the countdown to 2025 begins, the tech community eagerly awaits the official launch, anticipating a revolutionary milestone in the intersection of mobile devices and decentralized technologies.
COINBASE:SOLUSDLong
by DEXWireNews
Solana 2024 forecastBright future for Solana in 2024 and during next bullrun. Investors are reaping profits, sentiment is changing to bearish and price correction to no less than 30 USD is going to happen by April, followed by sideways crab trend into early autumn when fresh money is going to pour into Solana in significant volumes when conferences start and new tech is presented to public. Price is going to have an upward trajectory into 160-200 USD zone in late 2024 and early 2025. This is a forecast an not a trading advice.
COINBASE:SOLUSDLong
by hrcul
8
Solana (SOL): One Last PumpThe reaction down from the medium term high at $126.39 subdivides as a double zigzag. Giving confidence that it was a corrective move and not motive. The reaction from $78.87, the end of the double zigzag, subdivides nicely as an impulse. In the near term, a impulsive channel has broken in a decline which is expected to subdivide as a zigzag. The guideline of the previous 4th wave of lessor degree gives a range of around $90.50 to $94.50 as an expected depth of correction. The risk to reward ratio to establish a long position in that price range is great in my opinion. The potential for a 50% move to the upside is a confident scenario.
BINANCE:SOLUSDLong
by ChartWizardTrading
1
Solana's Soaring Transaction Volume Signals Bullish MomentumThe blockchain landscape is witnessing a remarkable surge in activity, with Solana ( CRYPTOCAP:SOL ) taking center stage as its monthly transaction volume reaches a multi-year high. The native token, CRYPTOCAP:SOL , has not only posted significant gains among major altcoins but has also exhibited impressive resilience in the face of recent market fluctuations. This article explores the key factors contributing to Solana's stellar performance, delving into the surge in transaction volume, the recovery of CRYPTOCAP:SOL 's price, the role of WEN token pairs, and the implications of recent liquidations. Unprecedented Transaction Volume Surge: Solana's blockchain is experiencing an unprecedented surge in transaction volume, with data from The Block's Data Dashboard revealing a staggering $951.9 billion in transactions for January. This marks a substantial 30% increase in economic throughput compared to December's already impressive volume of $735.8 billion. The current transaction levels far exceed those seen in 2023 and most of 2022, indicating a significant uptick in user activity. CRYPTOCAP:SOL 's Remarkable Price Recovery: Despite recent market turbulence, Sol has managed to not only recover but also rise above the $100 mark. The token's value increased by almost 8%, reaching $104.44 at 9:22 a.m. ET, making Sol the best-performing major altcoin in the last 24 hours. This impressive recovery can be attributed to the growing interest in decentralized exchanges, particularly driven by WEN token pairs. WEN Token Airdrop Sparks Trading Frenzy:** The recent airdrop of NASDAQ:WEN tokens to users of Solana's Jupiter decentralized exchange has catalyzed a surge in trading activity. Data from Dune Analytics reveals that the top five decentralized exchange trading slots in the past 24 hours are dominated by stablecoin-SOL, stablecoin-WEN, and SOL-WEN pairs. This airdrop, extended to Solana Saga phone users and certain Solana-based NFT project owners, has ignited a trading frenzy, amplifying Solana's market presence. Liquidations Reflect Market Dynamics: CRYPTOCAP:SOL 's price volatility over the past 24 hours has led to a notable increase in liquidations, particularly in short positions on centralized exchanges. Approximately $9.9 million was liquidated, with the majority, almost $8 million, coming from shorts. This trend is reflective of the overall crypto market, which witnessed over $79 million in liquidated short positions in the last 24 hours, contributing to a total of $118 million across various centralized exchanges, according to CoinGlass data. Conclusion: Solana's robust performance in terms of transaction volume, price recovery, and market activity positions it as a standout player in the current blockchain landscape. The platform's ability to attract users through innovative initiatives like the WEN token airdrop and maintain resilience amid market fluctuations underscores its potential for sustained growth. As Solana continues to set new records, investors and enthusiasts alike are keenly watching to see how this blockchain powerhouse will shape the future of decentralized finance and blockchain technology.
COINBASE:SOLUSDLong
by DEXWireNews