Solana Daily, a popular Twitter handle that posts about updates about the Solana [SOL] ecosystem, recently uploaded Solana’s latest weekly report. The report mentioned all the major developments on the network over the past week, including Solana’s integration with Google Cloud and the launch of Solana Mobile. Solana Ecosystem Update (Week 44) Take a look […]
Despite the aforementioned updates, SOL’s development activity moved south.
’s volume, on the other hand, registered a sharp uptick while its price decreased. This was a negative signal as it legitimized the downtrend.The coin also failed to gain interest from the derivatives market, as its Binance funding rate declined substantially. The crypto community was also not quite confident in SOL, which was evident looking at the decline in negative sentiment.
Moreover, the Money Flow Index registered a downtick, suggesting a price fall. The Bollinger Bands indicated that SOL’s price was in a high volatility zone, further increasing the possibility of a price plummet. Incidentally, though the Chaikin Money Flow was resting way below the neutral mark, but registered a slight uptick, which might give some hope to investors.Subscribe to get it daily in your inbox.
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