SOL Price Prediction

Solana is a fast, secure, and censorship resistant blockchain providing the open infrastructure required for global adoption.

Solana is building the architecture of their blockchain based on Proof of History (PoH); a proof for verifying order and passage of time between events. PoH encodes the trustless passage of time into a ledger. A Proof of Stake (PoS) consensus mechanism is then leveraged for confirmation of the current sequence produced by the Proof of History generator. PoS is also used for voting and selecting the next Proof of History generator node and for punishing any validators that act against the interest of the network. SOL price is something that many long term investors are keeping an eye on.

Scalable

Solana leverages Proof of History and several other breakthrough innovations to allow the network to scale at the rate of Moore’s Law.

Low Cost

Never worry about rising fees as your user base grows. The average transaction fee is as low as $0.00025.

Composable

Solana’s single global state ensures composability between projects. Never deal with multiple shards or layer 2 systems.

Let us review SOL price

SOL/USD – Price Prediction

SOL

SOL is currently trading above the support zone of $24.11 and close to the resistance at $30.86. If it can flip the resistance at $30.86 to support, we could start seeing a move towards $35.19, $40.19, $45.19, $52.31 and $61.39. If this resistance of $61.39 could be flipped to support, we could see another bigger move towards $87.59 and $129.98. Failure to hold the support at $24.11 could lead to a drop towards $18.73.

Join us on Telegram to receive free trading signals.

For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.

Images courtesy of TradingView.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.