Santiment’s data regarding SOL’s NFT space was not very promising, as according to its chart, SOL’s total NFT trade count and trade volume in USD went down over the last week.Considering the nature of these developments, a positive update came in for SOL as its weekly chart was painted green. As per, SOL’s price increased by 4% over the last seven days, and at press time, it was trading at $13.73 with a market capitalization of more than $4.9 billion.
Nonetheless, a look at SOL’s daily chart revealed that the blockchain’s troubles were far from over. When considering the movement of the Bollinger Bands, it could be seen thatFurthermore, ’s Relative Strength Index rested way below the neutral mark. This was yet another bearish signal. The Moving Average Convergence Divergence gave some hope as it displayed a bullish crossover. Thus, making way for a continued price surge.Solana
, a few of the on-chain metrics displayed some promising information. For instance, after a sharp decline, SOL’s development activity went up in the last few days, which was by and large a positive signal for a network. SOL also managed to remain popular in the crypto community as its social volume was up. Furthermore, Solana’s Binance funding rate also registered an uptick lately, thus indicating higher interest from the derivatives market.Subscribe to get it daily in your inbox.
Source: News Formal (newsformal.com)
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