Solana price analysis: Bearish clouds fade as SOL/USD prices near $37.68

Solana price analysis shows a bearish trend for the past 24-hours as prices retrace from highs near $39.95. The cryptocurrency is now trading at $37.68 and is facing immediate resistance at $39.95.

Timeline of Solana

Solana (SOL) is by far the worst-performing major cryptocurrency this week, after a shutdown further damaged sentiment. The token slumped over 11% in the past seven days, and is trading around $37.22- close to its lowest level since August 2021.

SOL price action increases selling pressure as the $60 breakout failure puts the sellers back on the pedestal and warns of a downfall under $38. Key technical points: The SOL market value decreased by 5.69% today at press time.

The Solana (SOL) blockchain is experiencing yet another round of network problems, leading to a huge price crash. The Ethereum (ETH) competitor announced on Wednesday that block production on Solana Mainnet Beta had temporarily halted. Solana Status notes that validator operators successfully completed a cluster restart of the mainnet beta about 4.5 hours later, ending The post Leading Ethereum (ETH) Competitor's Price Falls by Double Digits After Network Crashes appeared first on The Daily Hodl.

The Solana(SOL) price has been resonating within a descending triangle for nearly two weeks, teasing a resumption of the prevailing downtrend. However, some indicators reflect growth in bullish momentum, suggesting a considerable possibility for a bullish breakout.

Alchemy launched the Solana developer platform to boost Web3 building and development so let's have a closer look at today's latest blockchain news. The Solana developers can use Alchemy and its tools to accelerate Web3 building.

Web3 developer platform Alchemy said on Thursday that it is expanding its services to the Solana ecosystem. With the expansion, the company will allow Solana developers to expand their blockchain infrastructure requirements.

Solana price analysis reveals that the token has been on a downtrend for the past few days after enjoying some brief respite above the $50 mark. The coin started to decline around the same time Bitcoin began to drop and has not been able to recover since.

The Solana blockchain is back up and running following a four-hour outage due to a software error, the latest in a string of network outages in less than a year. In January, the digital asset's network saw a wave of outages and service difficulties that lasted up to 18 hours, enraging traders who watched their portfolio values plummet while unable to sell tokens.

Solana (SOL) is at risk of breaking down from a crucial long-term support level but is trading inside a short-term bullish pattern. The post Solana (SOL) Generates Bullish Divergences in the Daily RSI appeared first on BeInCrypto.

 The folks from the crypto street are not new to roadblocks resulting from a myriad of digital assets in business. One such protocol, which remains knotted with torments is Solana. As the network continues to witness recurring outages.  The frequent mishaps have fumed investors and netizens, who continue to question the credibility of the protocol. …