CandleFocus Solana Drops 9% But Looks to Leverage On-Chain Activity Surge for Rally to $186
2024-10-02
Author: Content Editor
Solana has experienced a decline in price along with the rest of the crypto market, but it could potentially rally back to its late July highs due to strong on-chain activity and positive market sentiment. Despite the price dip, various decentralized finance protocols on the Solana ecosystem are seeing a surge in volume. However, some protocols are experiencing setbacks. Solana's price is currently consolidating, but it could stabilize in the short term before making another upward move. The pivot point suggests potential support and resistance levels for SOL. The market is currently in a consolidation phase with no strong trend direction yet.
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