It was a bumpy weekend for SOL, but a 50% price rebound is possible.
other than SOL there is no way to liquidate the rest of the holdings without completely crashing the marketsGoogle partnership, NFT growth
Nevertheless, traders showed interest in holding SOL’s price above $30, a technical support level, on Nov. 7. One reason could be a flurry of optimistic news thatIn addition, Solana continues gaining higher traction in thesector. For instance, the total number of NFTs released on the Solana blockchain is up 19.3% quarter-over-quarter to reach over 8 million in Q3 2022.
“Several developments across Solana’s NFT sector allowed it to maintain a strong position relative to a peer group of the top L1s by“Secondary sales volume managed to eclipse Ethereum in early September. The majority of the activity during that period took place on Magic Eden V2.”, enabling users to create, sell and market their favorite digital arts and collectibles.As mentioned above, the SOL price’s correction showed signs of exhaustion when it retested $30 as its support level on Nov. 7.
Conversely, an extended selloff below the $27.75-$30 support area risks sending SOL’s price to around $19.50, or about 40% lower than today’s price.The $19.50 level served as support between March and July 2021, as shown in the chart above. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The market is hot, but Solana is not — Data explains why SOL price is laggingAltcoins are breaking out left and right, but noshitcoins says a lack of demand from the derivatives market could continue to weigh on Solana price.
Read more »
Solana unveils Google partnership, smartphones, Web3 store at BreakpointSolana announced a series of upcoming launches, and Cointelegraph was there to witness it live. Which one are you MOST excited about?
Read more »
Solana Jumps to 2-Month High After Google Runs a Validator Node (Weekend Watch)The Google news from yesterday pushed Solana to a multi-month high.
Read more »
Google Cloud adding BigQuery support for Solana in Q1 2023Google Cloud is adding support for the Solana blockchain in BigQuery; it will go live at the start of next year.
Read more »
Solana’s SOL Spikes 15% on a Suggestive Tweet From Google Cloud“Should we tell our followers the big news?,” Google Cloud tweeted an hour before revealing what it was doing with Solana.
Read more »
Google Cloud Is Running a Solana Validator, Blockchain Node Engine to Support SOL Chain Next Year – Bitcoin News“Google Cloud is running a block-producing Solana validator to participate in and validate the network,” the team explained on Saturday.
Read more »