Summary
TLDR: Solana’s user base peaked on March 17 but has since decreased, although trading activity remains high, indicating continued interest. The RSI indicator shows a healthy market, but EMA lines suggest a possible bearish trend. The Total Value Locked in the Solana ecosystem has exceeded $4 billion for the first time in two years, signaling renewed investor confidence. The number of daily unique transaction signers has increased but is now declining, possibly indicating a consolidation phase before further growth. The EMA lines on the price chart suggest a potential consolidation phase, with support levels at $161 and $137 in case of a correction.
Key Points
1. Solana (SOL) saw its user base peak on March 17, with numbers dwindling since then, but the price remains in focus with high trading activity, indicating persistent interest and strong engagement.
2. The Relative Strength Index (RSI) for Solana currently sits at 48, reflecting a restrained selling atmosphere and hinting at a potential consolidation phase for its price.
3. The Total Value Locked (TVL) within the Solana ecosystem has surpassed $4 billion for the first time since April 2022, indicating renewed investor confidence and growing interest in Solana DeFi offerings.