#ChristmasMarketAnalysis Solana (SOL) continues to show impressive performance despite the sluggish crypto market. š Solanaās Total Value Locked (TVL) is currently at a 2024 high of 55.37 million SOL! š This shows that despite SOLās price fluctuations, network activity remains strong.
Rising TVL often indicates long-term optimism and network health. šŖ In the past two days, Solanaās on-chain transaction volume has reached over $3 billion per day, with 67.77 million transactions in the past 24 hoursāthe highest number in 11 months! š
Although SOL is down 23% from its peak, many believe that now is the time to watch for a potential recovery. š Currently, SOLās price is between key Fibonacci retracement levels, and the RSI is close to entering oversold territory. š
There are signs of recovery, with selling pressure easing and outflows decreasing. š However, derivatives markets suggest that SOL may not be fully ready to rally again. š¤
So, while Solana is showing solid network performance, the road to price recovery may still take some time. ā³ Letās see how things develop! š
#SOL #solanainfo #Solanaššš