$SOL Solana ($SOL) is currently trading around $84, rebounding 10% from last week's low. But has the danger really passed? Let's look at the data:
🚨 3 red flags (which are a cause for concern):
1. Money is coming out of the ETF: In April, a record amount of money was withdrawn from the Solana ETF, with large investors pulling out.
2. Node count down 70%: The number of validators in the Solana network has dropped from 2,560 in March 2023 to just 756 now.
3. Drift protocol hack: On April 1, $285 million was stolen from the Drift protocol, creating a crisis of trust in the ecosystem.
💎 3 bullish signals (which are a ray of hope):
1. Stride (STRIDE) security program: The Solana Foundation has launched 24/7 monitoring for projects with over $10 million TVL.
2. Sandwich attack fix: A major vulnerability in the network's sandwich attack was fixed on April 8.
3. $1000 price target: Some analysts still predict a range of $900-$1200 by the end of 2026, although Standard Chartered has set a $250 target.
📊 Technical level:
Support: $80 (if broken, it could go down to $52)
Resistance: $85-$88 (if it can break, it could go to $94)
👇 What are you doing?
$SOL Are you buying, holding, or selling? Let us know in the comments! 👇
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