bullish

Cardano

Solana

<ul class="wp-block-list">
 <li>At the time of writing, SOL is trading at $145.02, up 2.14% in the last 24 hours.</li>
 <li>If the price manages to climb above $149 level, then it will likely test $160 resistance level.</li>
</ul>
Since the introduction of Frankendancer, a new validator client, to the mainnet-beta, <a href="https://thenewscrypto.com/cardano-founder-charles-hoskinson-lauds-sui-network-over-solana/" target="_blank" rel="noopener noreferrer nofollow">Solana’s</a> transaction throughput has skyrocketed to 40,000 TPS. Some have drawn parallels between this development and Cardano, a network that can only handle 1.3 TPS at the moment. In a post on X, crypto expert Marty Party brought attention to this discrepancy, casting doubt on Cardano’s claims of increased throughput.
While <a href="https://thenewscrypto.com/charles-declares-cardano-number-1-amid-market-challenges/" target="_blank" rel="noopener noreferrer nofollow">Cardano</a> claims on its website that its eUTXO mechanism can process hundreds of transactions/second in theory, real-world performance seems to be much lower.
<h3 class="wp-block-heading" id="h-brief-recovery-underway">Brief Recovery Underway</h3>
This week, the price of Solana price declined by almost 8% and is now trading between $142-145 range. Holders of SOL shouldn’t be too concerned about this decline, because the whole cryptocurrency market saw a slump.
Although there is resistance near $149, a prominent aspect is the emergence of higher lows, which suggests a bullish structure. Buyers are entering the market at greater and higher prices, indicating strength.
At the time of writing, SOL is trading at $145.02, up 2.14% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 15.52%.
The present rising trend in SOL prices has been reinforced as a result of this advance, which has enabled price to reclaim the 200-day moving average. The SOL price has the makings of a full comeback thanks to rising network revenue and the appearance of positive chart patterns.
If the price manages to climb above $149 level, then it will likely climb further to test $160 resistance level. However, if the brief bullish rally does not sustain and price falls below $141 level, then it will likely test $134 support level.

Solana Price Witnesses Brief Recovery Eyeing Potential Comeback

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TheNewsCrypto

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