IOTA

Solana

when

Foundation

<ul>
 <li><strong>At the time of writing, Solana is trading at $95.16, up 1.87% in the last 24 hours.</strong></li>
 <li><strong>If the price manages to go past $98.5 level, then it will likely test $102 resistance level.</strong></li>
</ul>
<p>Solana (SOL) had a positive month in terms of network activity, gaining a large number of users. But bears continued to exert pressure on the token’s price trajectory during this time. A major outage affected the <a href="https://thenewscrypto.com/solana-network-restored-after-five-hour-outage-post-validator-restart/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> blockchain network on February 6th, keeping the network inoperable for about 5 hours.</p>
<p>Solana, a network praised for its speed and throughput but frequently criticized for its operational reliability, has had many outages like this one. Updated software with a critical patch to fix the underlying problem was given by <a href="https://thenewscrypto.com/users-can-now-purchase-nft-via-chatgpt-says-solana-labs/" target="_blank" rel="noopener noreferrer nofollow">Solana Labs</a>, and validators were forced to restart with it.</p>
<p>Not long ago, ADGM made headlines when it announced that IOTA will be joining its Distributed Ledger Technology (DLT) foundation regime as a pioneer foundation. Within this framework, ADGM has made clear its intention to enter into an MoU with the Solana Foundation in order to further their cooperation.</p>
<h3 class="wp-block-heading" id="h-bears-in-control">Bears in Control</h3>
<p>A gloomy picture emerges from the technical analysis of SOL. A break from the formerly strong uptrend is evident as the price has now broken through key support at the $95 level. However, the price was able to recover briefly and is now trading around the $95 mark.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/02/SOL_7D_graph_coinmarketcap-1.png" alt="" class="wp-image-91093" srcset="https://thenewscrypto.com/wp-content/uploads/2024/02/SOL_7D_graph_coinmarketcap-1.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/02/SOL_7D_graph_coinmarketcap-1-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>At the time of writing, Solana is trading at $95.16, up 1.87% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is down 5.63%. If the price manages to go past $98.5 level, then it will likely climb further to test $102 resistance level. On the other hand, if the price manages to go below $93.7 level, then it will likely test $88.3 support level.</p>

Solana Succumbs to Bearish Pressure Amidst Recent Outage Saga

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