Solana News: Evaluating the Drop and Potential of Solana and the Emergence of Web3Bay
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In the volatile world of cryptocurrencies, Solana ($SOL) has seen a significant drop, but some investors view this as a buying opportunity. Meanwhile, a new player in the blockchain space, Web3Bay, has raised substantial funds in its presale. Here’s a closer look at both.
Should You Buy Solana and Web3Bay Right Now?
The cryptocurrency market is turbulent, with Solana ($SOL) dropping 36% in the past month amid market turbulence and meme coin scandals. Savvy investors see this as a buying opportunity. Meanwhile, Web3Bay, a blockchain-powered e-commerce disruptor, has raised $1.58 million in its presale, positioning itself as a promising investment. Should you buy the dip in Solana and add Web3Bay to your portfolio?
Solana Explodes Out Of Downtrend: How High Can It Go?
Solana (SOL) has delivered a dramatic shift in market structure, breaking above a descending parallel channel. This breakout could position SOL for a potential climb toward $213. The chart spans from January into early March and shows a steadily declining pattern before the latest bullish push propelled SOL beyond the channel’s resistance.
Significant Solana Transfer of 3M SOL to Binance Cold Wallet
A substantial cryptocurrency transfer involving 3 million Solana (SOL) tokens, worth $510.36 million, was made into a Binance cold wallet. These SOL tokens originated from an inactive stake account that had not participated in any activities for two months. Onchainlens observed this large movement of SOL tokens 10 minutes ago, flowing directly to a cold wallet controlled by Binance, one of the biggest crypto exchanges.
Solana (SOL) Plunges 20%—Key Support Levels in Focus
Solana (SOL) started a fresh decline from the $180 zone and is now down over 20%. The price broke below the $162, $150 levels, and the 100-hourly simple moving average. There was also a break below a connecting bullish trend line with support at $148. SOL might struggle to recover above the $150 resistance level.
