Altcoin Thursday: Solana


23rd December  2021 | ZebPay Trade-Desk

Solana plays host to a range of decentralized products including Serum, a decentralized exchange. Some other big names include Solible, an NFT marketplace, and Atomic, a non-custodial crypto wallet. Its market capitalization currently stands at $56bn, making it the 5th largest coin by rank. Moreover, Solana can process more than 1,000 transactions per second (TPS), which is much faster than any other competitor it has. 

At the time of writing Solana is trading at $183.

Solana (SOL), last month, after making the new-all-time high of $259.9 witnessed a sharp correction and the prices fell almost by 43% to $148. The asset took support at the crucial level of $146 (78.6% Fibonacci Retracement Level) and has shown good signs of recovery. Currently, Solana is consolidating and is trading sideways in a range from $169 to $190. Once the asset gives a breakout above the resistance of $205 with good volumes, then we can expect the prices to rally up to the $250 mark.

Support 2Support 1AssetResistance 1Resistance 2

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