Solana stablecoin jumped from twenty percent after they recently hit the worst level since 2021. The technical team suggests that uprising might be possible.
Sol’s crypto currency has supported by the Sam Bankman-Fried has lost last December since they fell their lowest prices since early 2021.
The Sol’s prices were jumping back from their $8 price. However their recovery hasn’t put the bear trend of the market down. The trend has went down by ninety-seven percent from the peak of two sixty-seven dollars in late November.
However as long as the market stays brutal, Solana might join the new lows of the lowest performing stablecoin in the crypto market.
Stablecoin Solana Joining The Rank Of Luna And FTT:
However the lowest prices of Solana is again started climbing up the ladder as it enters the next year. This is mainly because of Doji and a candlestick patters that were formed when the possessions closed at the same point where it has started the opening hours of the market.
The traditional analysts will consider the Doji as the potential Doji on the daily chart on 29th December. The long-term analysts considered DOji as one of the candlesticks that can reverse the market and shoot Solana high up in the table again despite the bears in the market.
With depreciation of about 97% so far this year, Sol has surfaced to be one of this year’s lowest cryptocurrencies. Comparatively, the market capitalization of all cryptocurrencies fell by just 65% during that time.
A number of factors, including a hawkish Fed, Sol’s frequent outages, a $200 mn attack on one of its connected wallets, and possible FTX exposure, might justify Salana’s underachievement in 2022.