Solana is a high-performance layer-1 solution optimized for scalability, it can scale to 50K transactions per second. In the past 1 week, in terms of development activity on blockchain, Solana has secured 3rd spot with 348 commits. TVL locked in the DeFi protocols built on Solana Blockchain stands at $997 Mn.
- Solana came down ~67% from its all-time high of ~$58.3 and has currently taken support at 100 EMA. It has bounced back from its recent low of ~$19.1 and is currently trading at $37 (up~93% from its recent low).
It is currently forming a strong bullish candle (taking support from the 50 EMA) and looks adamant to move to new highs.
The resistance to the higher side is present at $42 followed by $47 while the support to the lower side is present at $33.3 and $29 respectively.