Solana price analysis: Bullish momentum to continue as altcoin hits $34.19

Solana price analysis shows an uptrend Solana prices have firm support at the $31.96 level SOL prices have faced resistance at the $35.19 level Solana price analysis for today shows the prices have entered a bullish trend for the past 24 hours. The prices have been trading above the $31.96 support level … Solana price analysis: Bullish momentum to continue as altcoin hits $34.19 Read More »

Timeline of Solana

Crypto-focused internet browser Brave has announced the addition of Solana-based decentralized applications (dApps) in its version 1.41 platform. This will provide more opportunities for more [.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Solana's [SOL] south-looking trajectory has tracked itself within the bounds of its two-month down-channel (yellow).

Considering that the global crypto market boasts of more than 20,000 tokens, it may not be an easy ride for new investors to choose an ideal investment to include in their portfolios.

The most recent Solana price analysis shows an increased chance of an upcoming downswing as the bears regain their strength. The bearish momentum is getting high, as the coin value just reached down to $35.2 point.

The latest crypto legal battle that is underway happens to be against Solana Labs among others. The class-action lawsuit has been filed on behalf of Mark Young, a holder of SOL tokens.

According to a lawsuit filed in the U.S. District Court for the Northern District of California, cryptocurrency Solana (CRYPTO: SOL) is an unregistered security.  The lawsuit also accused Solana Labs, Solana Foundation, Solana Labs CEO Anatoly Yakovenko, Multicoin Capital Management LLC, Kyle Samani, and Falconx LLC of making illegal profits.

Investor of Solana has filed a collective action against the main stakeholders of the Solana network for the alleged advantage of SOL, the native currency of the blockchain which, according to the claim, is unregulated security. The filing was filed in California by attorneys representing a homeowner.

Solana price analysis shows that the bulls have been in control of the market since the beginning of today. The price has seen a slight retracement from its all-time high but found support near the $36.56 level.

A class-action lawsuit has been filed claiming that cryptocurrency solana (SOL) is an unregistered security under the Howey test. “The specific facts and circumstances relating to SOL securities support the conclusion that SOL is a security under the Howey test,” the plaintiff argued.

DappRadar, a leading analytics platform for decentralized application (dapp), published a report on 5 July. The report stated that despite the harsh crypto winter that has plagued the year so far, the performance of the NFTs and Blockchain gaming ecosystems in the last quarter provided a silver lining.