Cryptocurrency Influencer Benjamin Cowen Analyses Solana's Potential Turnaround

Benjamin Cowen, a prominent figure in the cryptocurrency space with over 780,000 followers on YouTube, has offered insights into the potential trajectory of Solana ($SOL), drawing parallels with Cardano's ($ADA) historical performance and suggesting a turnaround could be on the horizon. Identifying Patterns: Cowen delved into historical data, pinpointing a pattern in Solana's price movement.

Timeline of Solana

The price of Solana's Web3 smartphone, Saga, has been slashed by 40% in an attempt to boost adoption. The price of the cutting-edge smartphone was lowered from the initial $1,000 to $599.

Solana Price Analysis: Amid the rising FUD in the crypto market, the ninth-largest cryptocurrency Solana is hovering at about $22.4 support. In the last three weeks, the SOL price has bounced twice from the aforementioned support indicating the active accumulation from market participation.

Solana (SOL) is on a bullish run today as it joins the altcoin resurgence on the market. At the time of writing, the coin is up by 7.2% over the past 24 hours to $24.79, and in the past week, the coin has printed a total growth of 16%.

Solana (SOL) has recently been bullish, outperforming many other major cryptocurrencies. The network's scalability, boasting speeds of up to 65,000 transactions per second, has positioned it as a contender.

A closely followed analyst believes that the native token of the crypto project co-created by ChatGPT founder Sam Altman looks poised for a severe correction. Pseudonymous analyst Altcoin Sherpa tells his 196,400 X followers that he's bearish on Worldcoin (WLD), an artificial intelligence-based crypto project that uses iris-scanning technology.

Chainlink surged by nearly 4% during Tuesday's session, as the token moved towards a one-week high. The move came as cryptocurrencies rebounded, following a slow start to the week. Solana was another big mover, as it headed towards the $24.00 level.

Following its peak for the year at $32.13 on July 14, Solana (SOL) ‘s value has steadily decreased. This decrease has solidified the $27 horizontal range as the main resistance area.

In an unexpected move that has sent ripples through the crypto industry, major exchange Bitstamp has unveiled a sweeping adjustment to its offerings, primarily affecting its U.S.-based customers.

In the crypto world, collaborations and partnerships are often the catalysts for innovation, so when we refer to FTX and Solana's opportunity to collaborate with Paypal's stablecoin, we are talking about a missed chance.

Cypher Protocol, a decentralized futures exchange operating on the Solana blockchain, disclosed on August 7th that a significant security breach occurred on their platform. The breach led to an estimated unauthorized transfer of assets valued at around $1 million.