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Solana's Demand Zone Turns into Selling Interest Area as Support Level Becomes Resistance

The demand zone for Solana is now a selling area, with the previous support level of $26.31 becoming a resistance level. Despite SOL's recent poor performance, Bloomberg Intelligence's market analyst, James Coutts, believes that SOL has shown strength against Ethereum.

Solana's Total Value Locked (TVL) is higher than Cardano's, indicating that market participants have locked in more capital with the aim of enjoying more proceeds in Solana than in Cardano. However, a significant increase in volume may be required if SOL is to break out from the $26.31 resistance level. 

Ethereum Ethereum $3,431.90
+1.41%
Solana
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