Solana Witnesses Positive Movement Amid DeFi and Gaming Developments
By: Eva Baxter
Solana's value has seen an upward correction from the $120 zone and could potentially accelerate if it sees a close above the significant $142 resistance. Concurrently, notable strides in the DeFi and Gaming sectors on the Solana blockchain have occurred.
- SOL's price recovered higher, testing the $140 resistance against the US Dollar, now trading under $142, with a 100 simple moving average (4 hours).
- Notable DeFi protocol, Jito Network has become the leading protocol on Solana, resulting in an 8.5% increase in the JitoSOL token.
- Blockchain game creators leveraging Solana Labs' GameShift platform will now benefit from integrated Google Cloud features, giving a significant boost to the emerging sector of crypto gaming on Solana.
Solana ventures down below the $150 and $140 support levels, testing the $120 area and subsequently beginning an upside correction. It saw an increase above the $125 and $130 levels. Notable resistance is near the $142 level; a close above the $150 resistance could see another significant increase with key resistance near $160.
If SOL fails to rally above the $142 resistance, it is likely to see another decline with support at the $132 level. The first major support near the $128 level, below which the price could test $120. A close below will potentially see the price decline towards the $105 support.
