Solana Technical Evaluation Report | 4th-AUG-2022

SOL, the native token of the Solana community, is a well-liked asset with a market capitalization of $13.6 bn. The asset dipped below the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The explanation for this dip may be as a result of destructive publicity it received over the $8 Million […]
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SOL, the native token of the Solana community, is a well-liked asset with a market capitalization of $13.6 bn. The asset dipped below the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The explanation for this dip may be as a result of destructive publicity it received over the $8 Million person fund having been taken out by unknown hackers from the Solana-based hot-wallets which included TrustWallet, Phantom, and Slope. This made the Solana ecosystem the largest sufferer of the crypto asset hack. 

Learn extra: Solana Ecosystem Below Assault

On the time of writing, SOL was buying and selling at $39.7.

Solana (SOL) Chart

SOL made a ‘Taking pictures Star’ (Bearish) candle on 2nd April at $143 and plunged by nearly 81% inside three months making the low of $25.86. Submit this transfer, the asset made a ‘Tweezer Backside’ sample on the low and rallied as much as $47.36. Presently, on a every day timeframe, SOL is buying and selling in a ‘Symmetrical Triangle’ sample the place the ascending trendline acts as a help and the descending trendline acts as a powerful resistance. Breakouts on both facet of the sample with good volumes will additional determine the pattern for the asset.

Help 2 Help 1 Asset Resistance 1 Resistance 2
$25 $32 SOL $48 $60

Disclaimer: This report will not be meant to be relied upon as recommendation to buyers or potential buyers and doesn’t take into consideration the funding goals, monetary state of affairs, or wants of any investor. All buyers ought to think about such components in session with an expert advisor of their selecting when deciding if an funding is suitable. The Firm has ready this report based mostly on info out there to it, together with info derived from public sources that haven’t been independently verified. No illustration or guarantee, specific or implied, is supplied in relation to the equity, accuracy, correctness, completeness, or reliability of the knowledge, opinions, or conclusions expressed herein. This report is preliminary and topic to alter; the Firm undertakes no obligation to replace or revise the studies to mirror occasions or circumstances that come up after the date made or to mirror the prevalence of unanticipated occasions. Buying and selling & Investments in crypto property viz. Bitcoin, Bitcoin Money, Ethereum, and so forth are very speculative and are topic to market dangers. The evaluation by the Creator is for informational functions solely and shouldn’t be handled as funding recommendation.

The publish Solana Technical Evaluation Report | 4th-AUG-2022 appeared first on ZebPay.

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