Hello guys.
Today i will share with you one quick technical analysis of our beloved Solana, cuss I am on vacation in sunny Italy ☀️🇮🇹 for several days.
As we can See the price was rejected from 61% of Fibonacci level. and dropped to 38% of Fibonacci. I really expect the price to hit one more time 61% and from there we will check for double tops, which js clear bear signal or the price will proceed rising.
What could cheer up Solana (SOL) quotes?
Omitting macro and microeconomic factors, let's try to find potential growth drivers for SOL. For example, we can note that Solana developers are not wasting any time on Solana Phone and are also working to improve the ecosystem, whose constant breakdowns have already become the brunt of jokes.
At the end of June, the introduction of QUIC/Stake Weighted QoS/Local Fee Markets technologies was announced. QUIC, a protocol for adapting and optimizing data reception, is already observed in the test network. Perhaps improvements in network operational and validator performance will have a favorable impact on Solana's reputation and encourage greater adoption.
Solana investors and holders may also be encouraged by comparing the current SOL chart with the ETH chart from 2016-2019. The resemblance is quite obvious, especially since Solana sees Ethereum (ETH) as its main competitor. Back then, ETH, after an impressive growth of more than 20,000%, corrected by 93% and was worth $82 per token. We all know what happened then.
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Stay tuned and don't forget to take some rests.