Solana, also known as the Etheruem Killer, has done well this week and is currently trading green. In the past 7 days, the asset has seen a price increase of approximately 1.5%. The asset is trading within its current range, despite the fact that the volume has dropped by 44% in the last 7 days. Solana Ventures, the Solana Foundation and Solana Ventures have recently created a fund worth $100 million to support the growth of NFT and DeFi projects in South Korea. Sol token is trying to recover but has met resistance.
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SOL trades at $39.16 as of the writing.
Solana plunged by almost 75% from its recent high of $143, to $35.71. The asset trades in a Descending Triangle’ pattern after this move and is receiving good support from $37- $35. Solana faces stiff resistance at its 20-Day Moving Average. The RSI is showing a positive divergence. If the breakout happens above the downsloping trendline or 20-day Moving Average, then prices can rise up to $60-$65. A break below $35 could lead to further decline and may slide to $30.
Support 2Support 1AssetResistance1Resistance 2$30$35SOL$50$65
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