Solana (SOL)
The SOL/USD pair is trading at $22.20 on January 14, with a 24-hour trading volume of $2 billion. The current market capitalization is $8 billion, and the present position is 11. Solana (SOL), a blockchain with two independent validator clients, recently reached a significant milestone.
According to a statement issued on January 12, Firedancer is the ecosystem's new validator. By reducing congestion in Solana's parallel VM, the new approach will increase block production efficiency.
Furthermore, users could control their validators using one of two Firedancer software components with independent dependencies. After reaching a new high, the SOL/USD pair may continue to rise.
Solana has completed a 50% Fibonacci retracement at $23.65, and closing candles below this level suggest that the bullish trend is tiring. However, if SOL fails to break through the $23.65 resistance level, it may experience a slight drop until the next support level of $19.50 or $17.50.
The pair SOL/USD is trading above its 50-day moving average, with support near $15. Alternatively, if SOL continues to rise, it could breach the $23.65 level, resulting in SOL prices of $27.56 or $32.45.source
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