The cryptocurrency market saw a wide divergence on Sunday, with slight gains and losses as many cryptocurrencies rallied and the price of cryptocurrency Solana (SOL) met a similar fate, trading in the $80-$82 range as traders waited. a break up.
The coin has lost more than 10 percent of its value in the last seven days, and after opening and closing trading sessions between $80 and $100 for several weeks, Solana’s price has been one of the most volatile cryptocurrencies in the crypto market. Recently.
Solana (SOL) price analysis reveals a downtrend and witnessed a lot of selling as the market path shifted lower, and SOL is now expected to witness a reversal move in the coming days , as the price drops from $84 to $81 and remains flat. at this level.
If SOL buyers manage to break out of the upper resistance trend line, the buying pressure will increase, causing the coin to rally to the $105 barrier and then $122.
And if the sellers push the price of the coin below the $80 support level, it could result in a big drop to the $66 mark.
The Solana coin ecosystem is booming
Solana is one of the most popular Ethereum alternatives and one of the fastest growing ecosystems today, with 167 active projects in its ecosystem.
Solana co-founder Anatoly Yakovenko claims that the number of daily active users on Solana exceeds the number of other smart contract platforms.
He claims that Solana has over two million monthly active users and that daily active users sometimes exceed figures seen by Polygon and Ethereum, such as 300,000 or more daily active users.