SOL Technicals and Benefits

23 de fev. de 2022

Analysis done on daily candles. Solana made a name for itself in 2021 by moving from a of basically pennies to highs of 260.00, but 2022 has been a different story for the alt-coin. The crypto market correction has taken names like SOL and cut them more than 50%, but even through this pull back, SOL is trading considerably high if you were an early mover into this asset. Investors' biggest question to crypto is often the use because it's typically on the backend, but like ETH, SOL is clearly applicable in the NFT world and should be considered at the top of a crypto watchlist. With the NFT market OpenSea is currently valued at $13.3 billion and counting, which means the opportunity in that space is present and growing. The valuation of crypto coins remains difficult to assess, but that goes for any financial market. At the end of the day, it's the investors who build a value in an asset class so if the present projections of the NFT space is correct, then SOL's future may be bright. Looking at the over all chart, the strongest support SOL has from here is 80.00, if it breaks below then 60.00. Below 60.00 becomes critical.