Coindesk reports that Solana’s largest network upgrade since 2020 is now live, aiming for transaction settlements around 150 milliseconds. Despite this positive fundamental news, $SOL is down 1.639% today, trading at $104.44. This places it 4.359% below its 7-day high of $109.20.
While 24-hour volume for $SOL is 27.9% higher than its 7-day average, this has not translated into upward price momentum so far. The 14-hour RSI is at 30.9, suggesting short-term oversold conditions. My view is neutral today, as the market is not reacting strongly to the news.
A sustained move above the 7-day high of $109.20 could indicate renewed upward momentum. Conversely, a drop below the 7-day low of $100.43 would signal further short-term weakness. I will be watching for how price reacts to these levels.
#Solana #NetworkUpgrade
While 24-hour volume for $SOL is 27.9% higher than its 7-day average, this has not translated into upward price momentum so far. The 14-hour RSI is at 30.9, suggesting short-term oversold conditions. My view is neutral today, as the market is not reacting strongly to the news.
A sustained move above the 7-day high of $109.20 could indicate renewed upward momentum. Conversely, a drop below the 7-day low of $100.43 would signal further short-term weakness. I will be watching for how price reacts to these levels.
#Solana #NetworkUpgrade