{"id":516708,"date":"2023-01-19T08:42:23","date_gmt":"2023-01-19T13:42:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=516708"},"modified":"2023-03-08T07:26:31","modified_gmt":"2023-03-08T07:26:31","slug":"solana-up-30-in-last-7-days","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/solana-up-30-in-last-7-days\/","title":{"rendered":"Solana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier"},"content":{"rendered":"

Solana native token SOL has been on a tear since the start of the year. But the token might be on its way to test its support as it faces rejection.\u00a0<\/span><\/p>\n

Recent on-chain developments contributed to Solana\u2019s climb. But with the rejection, can SOL regain its bullishness?\u00a0<\/span><\/p>\n

Related Reading: LUNC Network Upgrade Backed By Major Exchanges \u2013 Will The Crypto Balloon In Price?<\/a><\/div>\n

Solana Keeps Things Aglow<\/strong><\/h2>\n

The Solana ecosystem is touted as an <\/span>\u201cEthereum killer\u201d<\/span><\/a> as it rose in prominence due to its low transaction fees and its capability to go through thousands of transactions per second. <\/span><\/p>\n

Sam Bankman-Fried, former CEO of the now-defunct crypto exchange FTX, <\/span>called<\/span><\/a> the ecosystem \u201cunderrated\u201d last year.\u00a0<\/span><\/p>\n

This connection with SBF and FTX led to both the ecosystem and the token to take a plunge, losing <\/span>nearly half<\/span> of its value. <\/span><\/p>\n

<\/p>\n

SOL total market cap at $7.6 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Because of this, the team behind the network made efforts to distance itself from FTX and Bankman-Fried.<\/span><\/p>\n
The <\/span>Messari overview<\/span><\/a> which was commissioned by the Solana Foundation, detailed how things went down with regards the crypto exchange and its former big boss.\u00a0<\/span><\/p>\n
\"\"Image: BONK\/Twitter<\/pre>\n
But during the turn of the year, SOL and other altcoins started rallying as major cryptocurrencies like Bitcoin and Ether broke through crucial resistances. <\/span><\/p>\n
And with the release of <\/span>BONK<\/span><\/a> during the rally, the <\/span>network usage<\/span><\/a> of SOL shot upwards, adding on to the already solid trajectory that SOL has.\u00a0<\/span><\/p>\n
\"\"Source: Alchemy<\/a><\/pre>\n
Despite the fear, uncertainty, and doubt that plagued the ecosystem, Solana is still considered as a <\/span>fast growing<\/span><\/a> ecosystem, according to a <\/span>recent report<\/span><\/a>, which shows that the development on the network is increasing compared to its competitors.\u00a0<\/span><\/p>\n
\n
1\/ A new report by @ElectricCapital<\/a> shows that Solana is the fastest growing developer ecosystem, surpassing 2,000 total developers in 2022. It’s second in raw numbers only to Ethereum.<\/p>\n
Let’s dig into the numbers.https:\/\/t.co\/HQvPbQzQD2<\/a> pic.twitter.com\/xV6pnoT7db<\/a><\/p>\n
\u2014 Solana (@solana) January 17, 2023<\/a><\/p><\/blockquote>\n
This certainly had an effect on SOL\u2019s price. At the time of writing, SOL is trading at $20.63, up 30% in the last seven days.\u00a0<\/span><\/p>\n
Rejection Line And What It Means<\/strong><\/h2>\n
Meanwhile, the token was rejected at $25, which could mean that bears will be able to test the two support levels that helped SOL reach its peak price. In the next few days, SOL is seen retesting the $18 and $16 supports.\u00a0<\/span><\/p>\n
\"\"\r\n\r\nChart: TradingView.com<\/pre>\n
Related Reading: XRP Bulls Aim For $1 As Crypto Advances With 12% Weekly Pump<\/a><\/div>\n
SOL\u2019s bullish pace in the weekly timeframe would certainly have an effect on the token\u2019s ability to recover from the rejection. <\/span><\/p>\n
Although it is highly likely that the $18 support will break, investors and traders can rely on $16 as a launching pad to retest $25 in the coming days or weeks.\u00a0<\/span><\/p>\n
If $25 is broken, $30 should be the next target as a breakthrough in this area would give SOL bulls legroom for more upward movement. <\/span><\/p>\n
SOL can rely on a solid ecosystem and a <\/span>bullish<\/span><\/a> community to recover lost ground.<\/span><\/p>\n
Featured image by Sunshine Adult Day Care <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Solana native token SOL has been on a tear since the start of the year. But the token might be on its way to test its support as it faces rejection.\u00a0 Recent on-chain developments contributed to Solana\u2019s climb. But with the rejection, can SOL regain its bullishness?\u00a0 Related Reading: LUNC Network Upgrade Backed By Major Exchanges \u2013 Will The Crypto Balloon In Price? Solana Keeps Things Aglow The Solana ecosystem is touted as an \u201cEthereum killer\u201d as it rose in prominence due to its low transaction fees and its capability to go through thousands of transactions per second. Sam Bankman-Fried, former CEO of the now-defunct crypto exchange FTX, called the ecosystem \u201cunderrated\u201d last year.\u00a0 This connection with SBF and FTX led to both the ecosystem and the token to take a plunge, losing nearly half of its value. SOL total market cap at $7.6 billion on the daily chart | Chart: TradingView.com Because of this, the team behind the network made efforts to distance itself from FTX and Bankman-Fried. The Messari overview which was commissioned by the Solana Foundation, detailed how things went down with regards the crypto exchange and its former big boss.\u00a0 Image: BONK\/Twitter But during the turn of the year, SOL and other altcoins started rallying as major cryptocurrencies like Bitcoin and Ether broke through crucial resistances. And with the release of BONK during the rally, the network usage of SOL shot upwards, adding on to the already solid trajectory that SOL has.\u00a0 Source: Alchemy Despite the fear, uncertainty, and doubt that plagued the ecosystem, Solana is still considered as a fast growing ecosystem, according to a recent report, which shows that the development on the network is increasing compared to its competitors.\u00a0 1\/ A new report by @ElectricCapital shows that Solana is the fastest growing developer ecosystem, surpassing 2,000 total developers in 2022. It’s second in raw numbers only to Ethereum. Let’s dig into the numbers.https:\/\/t.co\/HQvPbQzQD2 pic.twitter.com\/xV6pnoT7db \u2014 Solana (@solana) January 17, 2023 This certainly had an effect on SOL\u2019s price. At the time of writing, SOL is trading at $20.63, up 30% in the last seven days.\u00a0 Rejection Line And What It Means Meanwhile, the token was rejected at $25, which could mean that bears will be able to test the two support levels that helped SOL reach its peak price. In the next few days, SOL is seen retesting the $18 and $16 supports.\u00a0 Chart: TradingView.com Related Reading: XRP Bulls Aim For $1 As Crypto Advances With 12% Weekly Pump SOL\u2019s bullish pace in the weekly timeframe would certainly have an effect on the token\u2019s ability to recover from the rejection. Although it is highly likely that the $18 support will break, investors and traders can rely on $16 as a launching pad to retest $25 in the coming days or weeks.\u00a0 If $25 is broken, $30 should be the next target as a breakthrough in this area would give SOL bulls legroom for more upward movement. SOL can rely on a solid ecosystem and a bullish community to recover lost ground. Featured image by Sunshine Adult Day Care<\/p>\n","protected":false},"author":557,"featured_media":516751,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[142,14690,3505,12837,83626],"class_list":["post-516708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-altcoins","tag-crypto-news","tag-price-analysis","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nSolana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier<\/title>\n<meta name=\"description\" content=\"Solana native token SOL has been on a tear since the start of the year. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier","url":"http:\/\/ktsl888.com\/news\/solana\/solana-up-30-in-last-7-days\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/solana-up-30-in-last-7-days\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-6.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-6.png?fit=827%2C463"},"articleSection":"Solana","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","crypto news","price analysis","sol","solana"],"dateCreated":"2023-01-19T13:42:23Z","datePublished":"2023-01-19T13:42:23Z","dateModified":"2023-03-08T07:26:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Gleams 30% In Last 7 Days As SOL Bulls Try To Break $21 Barrier\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-up-30-in-last-7-days\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/solana-up-30-in-last-7-days\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Solana-6.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Solana-6.png?fit=827%2C463\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"crypto news\",\"price analysis\",\"sol\",\"solana\"],\"dateCreated\":\"2023-01-19T13:42:23Z\",\"datePublished\":\"2023-01-19T13:42:23Z\",\"dateModified\":\"2023-03-08T07:26:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/01\/Solana-6.png?fit=827%2C463","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/516708"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=516708"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/516708\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/516751"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=516708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=516708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=516708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}