2024

Solana

Momentum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solanas-positive-momentum-in-transaction-performance/" data-wpel-link="internal">Solana’s Positive Momentum in Transaction Performance</a><br></p>
<p style="text-align: justify"><strong>Solana (<a href="https://en.coin-turk.com/solanas-market-performance-and-growth-indicators/" data-wpel-link="internal">SOL</a>)</strong> has captured an upward trend in its transaction performance over the past month, which could indicate investors’ inclination towards a bullish trend. Solana’s price has formed consecutive declining candlesticks weekly but managed to close above the $100 level. In the last 24-hour trading period, Solana’s price increased by 2%, raising the price to $104.</p> 
<h2 id="weekly-charts-for-sol">Weekly Charts for SOL</h2> 
<p style="text-align: justify">When considering the weekly charts, <strong>SOL’s</strong> price trajectory shows a recovery from a low point of $79 in January. The following weeks saw the formation of rising candlesticks, and the price climbed to $119. Currently, Solana holds a strong market value of $45 billion, ranking it as the fifth-largest cryptocurrency by market size.</p> 
<p style="text-align: justify">However, there has been a slight decrease of 8% in trading volume within the last day, which reached $2 million. Experts find the direction of the trend uncertain in the daily timeframe due to mixed price movements. SOL has been trading within a symmetrical triangle since reaching its peak in 2023. This pattern is generally seen as neutral and could indicate that future price movements may break upward or downward.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-318442 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/sol.webp" alt="" width="1224" height="552"></p> 
<h2 id="analytics-reports-on-sol">Analytics Reports on SOL</h2> 
<p style="text-align: justify">SOL’s market outlook for February 2024 could present a positive trend with the cryptocurrency indicating an upward trajectory. However, SOL experienced a decline exceeding 9% last week. <strong>Solana’s</strong> price fluctuated from $114 to $103, initially reaching the resistance level of $114 before falling to the support level of $103. The crypto community’s focus has largely been on <strong>Solana (SOL)</strong> Total Value Locked (TVL), especially in light of recovery efforts following the <strong>FTX</strong> events.</p> 
<p style="text-align: justify">Data from DefiLlama suggests a steady increase in Solana’s TVL since October 2023, with a significant breakthrough in December, recording a TVL of approximately $2.069 billion, reaching the highest level in over a year. However, the recent drop in TVL to around $1.9 billion could indicate challenges in sustaining the growth momentum previously witnessed. This fluctuation in TVL is very important in assessing Solana’s enduring appeal and stability as a decentralized <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a> <strong>(<a href="https://coin-turk.com/curve-financeden-ezber-bozan-bitcoin-hamlesi-cigir-acan-yolculuk" data-wpel-link="internal">DeFi</a>)</strong> platform.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solanas-positive-momentum-in-transaction-performance/" data-wpel-link="internal">Solana’s Positive Momentum in Transaction Performance</a></h5>

Solana’s Positive Momentum in Transaction Performance

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