Solana is the fastest permissionless blockchain in the world and is called an Ethereum killer within crypto communities. It supports NFT, Defi, Web3, and more.
Consensus Mechanism. Proof of History (POH). It is a mix of Proof of stake plus a new variable time to the network. Each transaction is timestamped with a hash SHA256, sequential hashing verifiable delay function (VDF).
Features-
Transactions per second 65000
Block time- 0.40 seconds
SOLUSD trades higher for the eighth consecutive day.
Any daily close above $180 confirms further bullishness.
SOLUSD has gained more than 60% in the past ten days. The pair holds above the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a high of $174.61 and is currently trading around $170.85.
The bullish invalidation can happen if the pair closes below $80. On the lower side, the near-term support is $162. Any close below target $150/$138/$130.
The pair's near-term resistance is around $180. Any breach above confirms minor bullishness. A jump to $209/$228/$260 is possible. A surge past $260 will take it to $300.
It is good to buy on dips around $150 with SL around $130 for TP of $200/228.
