Solana Technical Analysis Hints at Potential Upturn

A new technical analysis by a prominent crypto analyst offers insights into Solana’s (SOL) current market situation, hinting at a possible upturn if specific conditions are met.

Solana Technical Analysis: Is The Bottom In?

Crypto analyst Scott Melker aka The Wolf Of All Streets (@scottmelker) has shared a new technical analysis highlighting a critical support-resistance setup for Solana (SOL). The analyst noted a ’picture perfect bounce off of $112 support’ and emphasized that a double bottom would be confirmed with a break above $147. The chart shows SOL rebounding from near $112, reinforcing that zone as significant short-term support. For a bullish double-bottom pattern to validate, a breakout above the downtrend line (currently around $130) is necessary.

Grayscale Seeks SEC Approval for Solana ETF Without Staking

Grayscale Investments, the world’s largest crypto asset manager, has officially submitted a filing to the U.S. SEC (securities and exchange commission) for a Solana ETF without staking. This move is significant for investors interested in gaining exposure to Solana without the complexities of staking.

Glimmer Finance Introduces RWA Marketplace on Solana

Glimmer Finance has introduced an initiative focused on transforming the trading and investment of real-world assets (RWAs) by developing an RWA marketplace on the Solana blockchain. The platform aims to provide a secure and transparent infrastructure for asset tokenization, bridging traditional finance with Web3 technologies and broadening global access to digital representations of real-world assets. Glimmer Finance has initiated a presale for its native token, $GLIMM, offering early access at an initial valuation prior to its anticipated listing price of $0.06. Participants can engage in the sale using BNB, SOL, ETH, and stablecoins.

Solana Rebounds by 4.62% after Days-Long Slump

Solana ($SOL) has recently experienced a significant price rebound after the recent price dip. CoinMarketCap’s data reveals that the $SOL price has witnessed a 4.64% spike over the past 24 hours. The respective price increase could serve as the onset of a massive bull run to be seen in the NEAR term. Overall, this recovery from the sheer downturn is a positive sign for Solana’s future price trajectory. Based on the market data, the present price of $SOL is nearly $120.75, indicating a 4.62% jump over the recent twenty-four hours. The community’s consistent belief in Solana’s potential has led to this considerable price upturn. In addition to this, the prevailing optimistic momentum highlights the possibility of a further price rise in the coming days.