♥️Solana (SOL) is one of the most popular projects in the blockchain world. It was launched in 2020 and has since attracted the attention of many investors and traders. In this review, we will look at the main aspects and advantages of Solana.
🔺Solana positions itself as a high-performance blockchain platform capable of processing up to 65 thousand transactions per second, which makes it very competitive compared to other blockchains such as Ethereum and Bitcoin. This is achieved using a new Proof-of-History (PoH) consensus model, which significantly simplifies the process of confirming transactions, reducing the time to a few seconds.
💪In addition, Solana provides low transaction costs and low fees, making it more affordable for users and developers. Integration with DeFi (decentralized finance) allows the release of new financial instruments and the creation of innovative applications such as liquid funds, staking and much more.
🔝Like many other blockchain platforms, Solana has its own cryptocurrency SOL. It is used to pay fees for transactions and activities in the Solana ecosystem. SOL is also used for staking, which allows network participants to receive rewards for maintaining and securing the network.
💥One of the main advantages of Solana is its active community of developers who create new applications and develop additional features for the platform. This contributes to the emergence of new opportunities for using cryptocurrency and attracts the attention of new users.
🥇Tech. analysis
Now SOL is trading in the $25 range with large volumes, you probably noticed that after the XRP incident, the dominance fell and a lot of altcoins began an upward movement.
The zone of main interest (globally) is $50, where almost all stop losses and take profits will be located. But we must not forget that before going up, large players must gain their positions, and for this they need to liquidate Long positions. Based on this, we are looking for the primary liquidation zone - this is the $20 level.
If the dominance continues to grow, then the $12.6 and $7 zones will not seem as exorbitant as they are now.
I would like to see the removal of partial liquidity from the $20 zone, and then an upward movement to $35-40
Another interesting fact to add to the short list now is cum. delta which never crossed the previous maximum.