• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / Solana [SOL] Shields Up Against Bear as Major Coins Lose Footing
Solana

Solana [SOL] Shields Up Against Bear as Major Coins Lose Footing

October 22, 2021 by Akash Anand

Over the past weeks, the cryptocurrency market has gone through some major changes in terms of price peripherals. Altcoins did their part in price elevation as Bitcoin hit new all-time highs. Despite how well the week began, some cryptocurrencies fell victim to the bear on Friday.

Solana [SOL], currently the 6th largest token on the charts, enjoyed a reversed trend which elevated its value and market cap. At press time, SOL was trading for $203.4 with a market cap of $61.18 billion. The token’s 28 percent weekly gain also lifted it’s daily trading volume to $6.65 billion.

Solana [SOL] 1 hour chart:

Solana
Solana [SOL] Shields Up Against Bear as Major Coins Lose Footing 4

Solana’s hourly performance has been something to watch as the cryptocurrency rocketed upwards over the previous 24-hours. With a new immediate support of $167, SOL was making headway in a bearish territory.

Parabolic SAR: The markers stayed below the price candles as the momentum shifted into the green.

Relative Strength Index [RSI] : After the latest price hike, Solana’s RSI climbed to the overbought threshold. This meant that the buying pressure had overtaken the selling pressure.

Chaikin Money Flow [CMF] : Solana’s CMF bounced off the zero line as the capital influx into the ecosystem increased. A resurgence in user interest was one of the main reasons for the spike.

Solana [SOL] 1 day chart:

sol 1 d 1
Solana [SOL] Shields Up Against Bear as Major Coins Lose Footing 5

In the long term, SOL was still reeling from consecutive red candles. The saving grace came in the form of the last bull run where the price support was lifted.

Chaikin Money Flow [CMF] : Just like in the hourly spectrum, the CMF was recovering here too. In the long run, October has been Solana’s most stable CMF run.

Parabolic SAR: The bull helped Solana’s markers stay below the price candles for a sustained period of time.

Relative Strength Index [RSI] : The RSI was the only indicator that made a split difference. In the long run, the marker was in the middle of the graph. This indicated a market waiting for a change in trends.

Filed Under: News, Altcoin News, Market Analysis Tagged With: Cryptocurrency, SOL, solana

Primary Sidebar

Recent Posts

  • US: Fidelity Investment’s Bitcoin Retirement Plan Stirs Political Storm May 21, 2022
  • Is Shiba Inu Easy to Buy and Sell in Europe? May 21, 2022
  • OpenSea Deploy New Web3 “Seaport” Marketplace On Ethereum May 21, 2022
  • Dogecoin co-founder states the obvious yet again May 21, 2022
  • Bitcoin to shine bright like a diamond May 20, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.