Solana [SOL] as of 8 October, stole the limelight once again by outperforming all the cryptocurrencies. As per a tweet from a crypto-focused Twitter account, CryptoDep, SOL was the top altcoin in terms of trending searches in the last seven days, only behind AXL. This was good news for SOL holders as it reflected the […]
’s performance in the last seven days was mostly in agreement with the bears. Additionally, SOL’s volume decreased considerably on 8 October, which was a negative signal pushing SOL’s price to new lows.
Surprisingly, contrary to CryptoDep’s data, SOL’s social volume also followed a similar route and decreased over the last week.SOL’s NFT space also witnessed a downfall as the total NFT trade count decreased. However, Santiment’s chart revealed that SOL’s development activity did offer some respite as it increased during the period under review.’s daily chart revealed some interesting information.
The Relative Strength Index rested just below neutral position. As suggested by the Exponential Moving Average Ribbon, the 20-day EMA was below the 55-day EMA, indicating sellers’ advantage in the market. Moreover, the Moving Average Convergence Divergence displayed a tussle between the bears and the bulls. The Bollinger Bands revealed that SOL’s price was in a crunched position and showed resistance at the $34.14 mark.Subscribe to get it daily in your inbox.
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