Solana Ascending Triangle

4 Nov 2021

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.