Solana Roadmap!!!
2024-10-09

Today, I want to analyze the  Solana (  BINANCE:SOLUSDT ) project  for you; I hope it will be useful 😊.

First, let's have a  fundamental analysis of the Solana project .

 1. Network and On-Chain Performance :
 
 Solana, using its Proof of History (PoH) technology, is known for high speed and excellent scalability.

The number of transactions and active users in its on-chain ecosystem continues to grow, and the total value locked (TVL) in DeFi protocols on Solana remains high.

However, network outages in the past have slightly damaged user and investor trust. 

 2. News and Developments :

 Solana is actively collaborating with new NFT and DeFi projects, contributing to the growth of its ecosystem.

The development team is working on resolving technical issues and upgrading the network to enhance stability and security. 
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Now, let's take a look at  Solana's technical analysis .

When Bitcoin(  BINANCE:BTCUSDT ) touched  $50,000 on August 5 ,  Solana  also touched  $110 , with so much volume that these  last two months' moves seem to be in the form of a correction , and we should expect  another Solana correction .

According to the theory of  Elliott waves , Solana seems to have completed the  main wave 3 at $193.9 8 , so that the  microwave 5 of the microwave 5 of the main wave 3  is  truncated .

 Before conclusion , let's take a look at the  BINANCE:SOLBTC   chart .

 SOLBTC  is moving in a  Symmetrical Triangle  in the daily time frame, and if SOLBTC starts to increase again from the  lower line of the symmetrical triangle , we can hope that if Bitcoin experiences a sharp fall, the Solana project will fall less and vice versa.👇


I expect  Solana  to drop at least  -20%  after breaking the  Support lines  and move back to near the  lower line of the descending channel .  Factors such as outages or disruptions in the Solana blockchain network can lead to further modification of this token .

 Educational tip :   TradingView  has released a  new update  for the  Parallel Channel  these few days, which can be very useful. I definitely suggest you visit this  article .

⚠️ Note: If Solana can break the Resistance zone($164-$154), we should expect Solana to rise to $200. ⚠️

Solana Analyze (SOLUSDT), Daily time frame⏰.

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