{"id":543465,"date":"2023-07-20T09:50:19","date_gmt":"2023-07-20T09:50:19","guid":{"rendered":"https:\/\/wncen.com\/?p=543465"},"modified":"2023-07-20T11:28:32","modified_gmt":"2023-07-20T11:28:32","slug":"solana-sol-smashes-previous-high","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-sol-smashes-previous-high\/","title":{"rendered":"Solana (SOL) Continues To Shine With Over 20% Surge – What’s Next?"},"content":{"rendered":"

Solana (SOL) offered an attractive chance for buyers to seize a favorable risk-reward ratio as it retraced to test a previous resistance area. At the same time, the market remained under the bulls’ control.<\/span><\/p>\n

Furthermore, the on-chain metrics displayed promising performance. Notably, the number of active users experienced a gradual uptick, and an extraordinary surge in smart contract deployment on the platform was also observed.<\/span><\/p>\n

Could this impressive on-chain performance indicate even more significant potential for Solana in the future?<\/span><\/p>\n

Analyzing SOL’s Performance<\/strong><\/h2>\n

According to data from\u00a0<\/span>Coingecko<\/span><\/a>, the current trading price of SOL has reached $26.58, marking a 1.0% increase in the past 24 hours. Even more striking is the remarkable seven-day rally, where SOL has surged by an impressive 21.7%.\"\"<\/span><\/p>\n

Source: Coingecko<\/pre>\n

These metrics indicate a positive sentiment surrounding the cryptocurrency and suggest potential opportunities for investors and traders.<\/span><\/p>\n

While a slight loss of bullish momentum may have been observed in the lower timeframes, the 1-day chart revealed substantial bullish potential for SOL. A <\/span>SOL price report<\/span><\/a>\u00a0suggests that despite minor fluctuations in shorter periods, the overall outlook for SOL remains optimistic, especially considering the strong performance of the bulls throughout July.<\/span><\/p>\n

Strength In Bullish Momentum And Demand<\/strong><\/h2>\n

Two critical indicators, the Relative Strength Index (RSI) and the On-Balance Volume (OBV), further support the bullish outlook for SOL. The RSI showcased robust bullish momentum, indicating that the buying pressure has been significant during the recent price surge.<\/span><\/p>\n

Related Reading: BNB Chain Unveils Beacon Update \u2013 What\u2019s Its Bearing On Price?<\/a><\/div>\n

<\/p>\n

SOL market cap currently at $10 billion. Chart: TradingView.com<\/a><\/pre>\n

Additionally, the uptrend in the OBV signaled a considerable increase in demand for SOL, fueling the impressive rally in its price.<\/span><\/p>\n

Related Reading: XRP Maintains Bullish Run With Nearly 80% Rally \u2013 Is $1 Within Reach?<\/a><\/div>\n

With SOL’s price showing strength and resilience, investors may consider this a positive sign for the cryptocurrency’s future performance. However, exercising caution and conducting thorough research before making investment decisions is essential, as the crypto market is known for its volatility.<\/span><\/p>\n

Solana’s New Developer Tool<\/strong><\/h3>\n

Meanwhile, the Solana blockchain protocol\u00a0<\/span>recently announced<\/span><\/a>\u00a0its latest developer tool, Solang. This innovative tool addresses the fundamental differences between the Solana ecosystem and the Ethereum blockchain network, particularly concerning the programming languages utilized in their designs.<\/span><\/p>\n

\n

1\/ \ud83c\udf89Introducing Solang: Building on Solana with Solidity<\/p>\n

Today, @solanalabs<\/a> announces Solang, a compiler enabling developers to write smart contracts on Solana in Solidity, the primary programming language of Ethereum.https:\/\/t.co\/X703sAMJBC<\/a><\/p>\n

Learn more\ud83d\udc47<\/p>\n

\u2014 Solana (@solana) July 19, 2023<\/a><\/p><\/blockquote>\n

With Solang, developers can now write Solana programs using the popular Solidity programming language predominantly associated with the Ethereum network. This integration is a direct gateway for launching decentralized applications (dApps) on Solana, providing an excellent opportunity for applications to extend their value beyond their immediate ecosystems.<\/span><\/p>\n

This cross-chain compatibility will likely encourage developers to explore the vast potential of Solana’s high throughput, low latency, and cost-efficient platform for building sophisticated dApps.<\/span><\/p>\n

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n

Featured image from Adobe Stock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Solana (SOL) offered an attractive chance for buyers to seize a favorable risk-reward ratio as it retraced to test a previous resistance area. At the same time, the market remained under the bulls’ control. Furthermore, the on-chain metrics displayed promising performance. Notably, the number of active users experienced a gradual uptick, and an extraordinary surge in smart contract deployment on the platform was also observed. Could this impressive on-chain performance indicate even more significant potential for Solana in the future? Analyzing SOL’s Performance According to data from\u00a0Coingecko, the current trading price of SOL has reached $26.58, marking a 1.0% increase in the past 24 hours. Even more striking is the remarkable seven-day rally, where SOL has surged by an impressive 21.7%. Source: Coingecko These metrics indicate a positive sentiment surrounding the cryptocurrency and suggest potential opportunities for investors and traders. While a slight loss of bullish momentum may have been observed in the lower timeframes, the 1-day chart revealed substantial bullish potential for SOL. A SOL price report\u00a0suggests that despite minor fluctuations in shorter periods, the overall outlook for SOL remains optimistic, especially considering the strong performance of the bulls throughout July. Strength In Bullish Momentum And Demand Two critical indicators, the Relative Strength Index (RSI) and the On-Balance Volume (OBV), further support the bullish outlook for SOL. The RSI showcased robust bullish momentum, indicating that the buying pressure has been significant during the recent price surge. Related Reading: BNB Chain Unveils Beacon Update \u2013 What\u2019s Its Bearing On Price? SOL market cap currently at $10 billion. Chart: TradingView.com Additionally, the uptrend in the OBV signaled a considerable increase in demand for SOL, fueling the impressive rally in its price. Related Reading: XRP Maintains Bullish Run With Nearly 80% Rally \u2013 Is $1 Within Reach? With SOL’s price showing strength and resilience, investors may consider this a positive sign for the cryptocurrency’s future performance. However, exercising caution and conducting thorough research before making investment decisions is essential, as the crypto market is known for its volatility. Solana’s New Developer Tool Meanwhile, the Solana blockchain protocol\u00a0recently announced\u00a0its latest developer tool, Solang. This innovative tool addresses the fundamental differences between the Solana ecosystem and the Ethereum blockchain network, particularly concerning the programming languages utilized in their designs. 1\/ \ud83c\udf89Introducing Solang: Building on Solana with Solidity Today, @solanalabs announces Solang, a compiler enabling developers to write smart contracts on Solana in Solidity, the primary programming language of Ethereum.https:\/\/t.co\/X703sAMJBC Learn more\ud83d\udc47 \u2014 Solana (@solana) July 19, 2023 With Solang, developers can now write Solana programs using the popular Solidity programming language predominantly associated with the Ethereum network. This integration is a direct gateway for launching decentralized applications (dApps) on Solana, providing an excellent opportunity for applications to extend their value beyond their immediate ecosystems. This cross-chain compatibility will likely encourage developers to explore the vast potential of Solana’s high throughput, low latency, and cost-efficient platform for building sophisticated dApps. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Adobe Stock<\/p>\n","protected":false},"author":557,"featured_media":543473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1020,6664,12837,83626],"class_list":["post-543465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-crypto","tag-sol","tag-solana"],"acf":[],"yoast_head":"\nSolana (SOL) Smashes Previous High With Over 20% Surge<\/title>\n<meta name=\"description\" content=\"Solana (SOL) offered an attractive chance for buyers to seize a favorable risk-reward ratio as it retraced to test a previous resistance area. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana (SOL) Continues To Shine With Over 20% Surge – What’s Next?","url":"http:\/\/wncen.com\/news\/solana-sol-smashes-previous-high\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana-sol-smashes-previous-high\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-126.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-126.png?fit=953%2C652"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["blockchain","crypto","sol","solana"],"dateCreated":"2023-07-20T09:50:19Z","datePublished":"2023-07-20T09:50:19Z","dateModified":"2023-07-20T11:28:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana (SOL) Continues To Shine With Over 20% Surge – What’s Next?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-sol-smashes-previous-high\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana-sol-smashes-previous-high\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-126.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-126.png?fit=953%2C652\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"blockchain\",\"crypto\",\"sol\",\"solana\"],\"dateCreated\":\"2023-07-20T09:50:19Z\",\"datePublished\":\"2023-07-20T09:50:19Z\",\"dateModified\":\"2023-07-20T11:28:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-126.png?fit=953%2C652","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/543465"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=543465"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/543465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/543473"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=543465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=543465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=543465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}