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Solana Technical Analysis 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 underneath the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The rationale for this dip is perhaps because of the adverse publicity it acquired over the $8 Million […]
The submit Solana Technical Evaluation Report | 4th-AUG-2022 appeared first on ZebPay.

SOL, the native token of the Solana community, is a well-liked asset with a market capitalization of $13.6 bn. The asset dipped underneath the 20-day EMA ($40) this Tuesday and fell to the 50-day SMA ($37) yesterday. The rationale for this dip is perhaps because of the adverse publicity it acquired over the $8 Million consumer 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 Underneath Assault

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

Solana (SOL) Chart | 4th August 2022
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. Put up this transfer, the asset made a ‘Tweezer Backside’ sample on the low and rallied as much as $47.36. At the moment, on a day by day time-frame, 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 robust resistance. Breakouts on both aspect 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 isn’t meant to be relied upon as recommendation to traders or potential traders and doesn’t bear in mind the funding aims, monetary state of affairs, or wants of any investor. All traders ought to contemplate such components in session with an expert advisor of their selecting when deciding if an funding is acceptable. The Firm has ready this report based mostly on info accessible to it, together with info derived from public sources that haven’t been independently verified. No illustration or guarantee, categorical 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 incidence of unanticipated occasions. Buying and selling & Investments in crypto belongings viz. Bitcoin, Bitcoin Money, Ethereum, and so forth are very speculative and are topic to market dangers. The evaluation by the Writer is for informational functions solely and shouldn’t be handled as funding recommendation.

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





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