According to the latest news, Solana experienced many disruptions in the past year. The most recent was on October 1, according to the most recent reports. This disruption is serious for the network and could cause investors to lose confidence in Solana token and the project. A single validator caused the previous disruption, which then caused an outage on blockchain. The entire blockchain was shut down, resulting in a temporary suspension of all transactions. Two network developers took on the identities of 11 network developers during the discussions about the outage. To increase the TVL number, these two developers double-counted.
Despite recent problems, SOL gained approximately 8% on October 3rd & 4th before beginning a downtrend earlier in the day.
Sol traded at $34.35 as of the writing date
Solana (SOL) Price Chart
Solana, which had hit a low of $25.86 on 14 June, saw a rapid recovery. Prices rose by almost 87% to $48.35. The asset was repeatedly challenged at the $50 mark, and prices dropped to $30. Sol has been consolidating since then and trades in a range of $30 to $37 ($30 acting as strong support). The trend will be determined by breakouts that occur on either side, if there are good volumes. The asset is neutral if the moving averages are flat and the RSI at 50.
Support 2Support 1AssetResistance1Resistance 22530SOL4050
Disclaimer: This report should not be regarded as investment advice. It does not consider the financial situation, investment goals or needs of investors. When deciding whether an investment is right for them, all investors should take into account these factors and consult with a professional advisor. This report was prepared by the Company using information that it has access to, as well as information from public sources that have not been independently verified. The Company makes no representations or warranties, either express or implied, regarding the accuracy, reliability, correctness, completeness, reliability, or fairness of the information, opinions, or conclusions contained herein. This report is preliminary. The Company does not assume any obligation to revise or update the reports in response to new events or circumstances after the date of the report was made. Trading & Investments in cryptos viz. Bitcoin Cash, Ethereum, and Bitcoin Cash are just a few examples. These are highly speculative investments and can be subject to market risk. Author’s analysis is intended to be used as information only and not as investment advice.
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