First, it’s important to understand that the size of the coins that will be generated with the Solana LIFT tokens will vary. The minimum amount of tokens created with the Solana LIFT tokens will be 15 million coins (about $15,000 USD). The maximum will be 85 million coins (about $85,000 USD). For the Solana LIFT tokens sold in this crowdsale, there will be no maximum.
SOL (Solana) is the latest Ethereum implementation that is set to launch on 01 December 2016. At the time of writing, there is no official website, no whitepaper, no roadmap, no team, no launch date, no blockchain explorer, and no stable version of the software yet. The community is expecting a lot from the project.
The Solana Network has been released to the public, and has already started generating long-term value. Solana is an open-source blockchain technology for running distributed applications, and it can be used to run all types of distributed applications, including financial services. While the Solana Network is not yet widely used, it has already generated value for its investors.
Solana is on steroids, to put it bluntly. SOL is clinging to ninth place while Bitcoin and Ethereum battle against sellers.
The chain, a high-throughput platform created to compete with Ethereum and serve as a platform of choice for DeFi dApps seeking to launch in a scalable, low-fee environment, is gaining traction.
Performance and Status of the Solana Market
The token is rebounding aggressively, according to the SOL candlestick pattern on the daily chart, and has reached a new all-time high at the time of writing.
Notably, the rebound comes after a brief scare earlier this week, when prices retraced from all-time highs before shaking off bears.
Buyers have have complete control of the market, pushing prices over critical resistance levels and pushing SOL into new 2021 territory.
Technically, this is quite an accomplishment for a project that is just two years old. It now has a slew of high-profile investors and projects on its side.
SOL prices are in a bullish breakout pattern, according to the Solana candlestick arrangement on the daily chart.
The shake-off bears mid-week, as well as the realignment of bear bars near—and along the upper BB–signal strength, which traders like.
As a result, Solana bulls are likely to double down, looking for entry in lower time frames and pushing prices higher in a much-needed lift-off.
The initial bull objective, in terms of technical analysis, is $95—the 1.618 Fibonacci extension level of Solana’s H1 2021 trading range.
SOL may rise to a three-digit level over $150 if buyers come off the top—which they will—pushing the crypto market cap leader-board higher.
A Bullish Continuation Pattern is Forming in Solana.
One trader on Trading View believes the coin is creating a bullish continuation pattern based on price activity on the 1-hour chart.
Solana prices have already broken above the falling wedge—the bull flag, according to the expert. It is now racing ahead towards new H2 2021 levels.
The expert believes the currency will reach $90 in the near future.
SOL prices are trading at fresh all-time highs at the time of writing.
Buyers of Solana seem to be eager for more, confirming the trader’s prediction of additional wiggle room for dedicated SOL traders.
SOL has the potential to double to above $150.
Traders are too optimistic.
Another trader on Trading View believes Solana’s technical circumstances provide a solid anchoring ground for the currency to double and surge to above $150.
SOL has already grown by 150 percent in the previous trading month, according to the expert. As a result, it is outperforming every other asset, including Bitcoin and Ethereum.
As a result, it is pushing its value to new heights, attracting more investors behind the scenes as trade volumes increase.
SOL bulls are expected to pick up now that prices have reached fresh all-time highs, according to the trader. In the longer run, this may push the currency beyond $90, to $115, and perhaps $150.
The amount of involvement, according to the trader, will be a major element driving demand.
As a prelude, trading volumes—a metric that indicates investor interest—must increase, propelling the wave further over the anticipated response points of $90 and $115.
Bots are already detecting buyer interest in the Solana currency.
On #GATEIO, an unusual #volume increase was observed in $SOL USDT.
– 22 times the average volume in $SOL – $USDT on a 5m period (225,729 USD)https://t.co/bpnglk8bp2
— TraderWisdom (@VolumeAlerts) August 26, 2021
As purchasers rushed to Gate.io, trade volumes increased noticeably.
Trading View provided the charts.
Disclosure: The author’s opinion is his or her own. Make your own investigation.