SOL has managed to stay well above its 200 DMA and the CC SMA 50 just turned green a few days ago - a signal that bullish momentum should continue.
SOL is building a wedge structure and should ultimately test the top in August and perhaps even break out by August/September to then head to the measured move target price of $100.
SOL has some strong fundamentals behind it and some very strong partnerships. Solana has several DEXes built on it such as the one by Sam BankmanFried's FTX and their partnership with Almeda Research - Serum on Solona:
https://solana.com/ecosystem/serum
This isn't the only DEX built on SOL ... there are several others such as LunaDEX and DEXlab ....
https://lunadex.com/
https://trade.dexlab.space/#/market/9wFFyRfZBsuAha4YcuxcXLKwMxJR43S7fPfQLusDBzvT
Solona to me is a blockchain backbone picks and shovel play but with the added element that it has smart contracts and is highly evolving such as Uniswap.
It has elements of Chainlink as well since it runs its own oracles. In short SOL seems like it's a very undervalued asset at this time of writing with several live DEXes and several use cases other than just DEXes - you can build any dApp on SOL with near limitless scaling at the moment.
In short, Solana is a quickly growing ecosystem.
solana.com/ecosystem
Lastly, SOL boasts one of the most impressive Developer teams I've seen to date - this includes it in the league of ChainLink and PolkaDot.
Their Devs are from Qualcomm, Intel, Google, MSFT, Twitter, Dropbox, and many more... it's honestly one of the most impressive I've seen to date...
SOL should be a top 10 coin or even top 5 coin depending on development and how many dApps continue to get built on it.
SOL is building a wedge structure and should ultimately test the top in August and perhaps even break out by August/September to then head to the measured move target price of $100.
SOL has some strong fundamentals behind it and some very strong partnerships. Solana has several DEXes built on it such as the one by Sam BankmanFried's FTX and their partnership with Almeda Research - Serum on Solona:
https://solana.com/ecosystem/serum
This isn't the only DEX built on SOL ... there are several others such as LunaDEX and DEXlab ....
https://lunadex.com/
https://trade.dexlab.space/#/market/9wFFyRfZBsuAha4YcuxcXLKwMxJR43S7fPfQLusDBzvT
Solona to me is a blockchain backbone picks and shovel play but with the added element that it has smart contracts and is highly evolving such as Uniswap.
It has elements of Chainlink as well since it runs its own oracles. In short SOL seems like it's a very undervalued asset at this time of writing with several live DEXes and several use cases other than just DEXes - you can build any dApp on SOL with near limitless scaling at the moment.
In short, Solana is a quickly growing ecosystem.
solana.com/ecosystem
Lastly, SOL boasts one of the most impressive Developer teams I've seen to date - this includes it in the league of ChainLink and PolkaDot.
Their Devs are from Qualcomm, Intel, Google, MSFT, Twitter, Dropbox, and many more... it's honestly one of the most impressive I've seen to date...
SOL should be a top 10 coin or even top 5 coin depending on development and how many dApps continue to get built on it.
Note
Considering SOL has nearly already 320 dApps built on top of it and growing and is increasing their daily active users - SOL should have the same relative valuation as PolkaDot. This would mean SOL should be in the $80+ range TODAY....Knowing that it's severely underpriced and that the ecosystem is only going to grow, it would be wise to pick up SOL here before it gets discovered by the majors.
Note
The last time SOL's CC SMA 50 turned green, it moved higher by 86%:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.