Get started
dorfmanmaster

Solana Ascending Triangle

Long
Solana (FTX:SOLUSD)  
dorfmanmaster  
FTX:SOLUSD   Solana
Chart Patterns Triangle Beyond Technical Analysis cryptoanalysis solana SOLUSD blockchain Ascending Triangle proofofhistory proofofstake btcsol
2
0
chartpattern triangle beyondta cryptoanalysis solana solusd blockchain ascendingtriangle proofofhistory proofofstake btcsol
Techincal Analysis
We have formed an ascending triangle, which puts the measured move around $320.
A re-test of $210 could be a good potential entry.


Fundamental Analysis
Solana is both a cryptocurrency and flexible platform for running apps.
  • High transaction speed: it can transact 50,000 transactions per second; unlike Bitcoin which can transact 7 per second or Ethereum that can transact 13 per second.
  • Fees: while Ethereum has its second layer which eliminates gas fees, Solana will still be cheaper and more efficient due to the extremely high speed.
  • Proof of history: PoH ensures that a blockchain is very fast but at the same time keeps its security decentralized.

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.