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Solana price bleeds by %14 despite launch of Seoul Hacker House event

  • The Solana Foundation has powered a four-day offline event, offering in-person guidance from Solana Labs engineers. 
  • Solana price continued to bleed, posting 14% losses over the past two weeks. 
  • Crypto Twitter speculates OpenSea’s integration with Solana, fueling a bullish sentiment among investors. 

Solana, considered an Ethereum-killer, continues to decline despite the launch of a hacker event in Seoul. Analysts continue to remain bearish on Solana price. 

Solana Labs powers Seoul Hacker event 

The Solana Foundation powered a four-day offline occasion with in-character guidance from the middle Solana Labs engineers. Solana has supplied mentorship for attendees and at some stage in the occasion, engineers provide informative instructional programming around DeFi, NFTs and a way to get started on Solana. 

Advice and aid from core Solana Lab engineers should help initiatives get started on the blockchain. Despite kicking off the occasion, Solana price failed to recover from the stoop.

Before the Seoul event, there was a Web3 coding camp awards ceremony that Solana powered in Vietnam. Events have fueled a positive outlook in the Solana community. 

Solana continues to bleed, posts losses 

Analysts have evaluated the Solana rate chart and agree with the altcoin is one slide far from a forty% decline. Solana’s breakdown ought to end result from the descending triangle sample within the altcoin’s chart. Solana charge has consolidated in the triangle and the bearish trend should retain. 

Azeez Mustafa, a crypto analyst argued Solana price is moving sideways and the altcoin remains below the 9-day and 21-day moving averages and SOL could continue to plummet below $34. 

solana us dollar

Solana price reached its all time lows on the RSI these days. The ultimate time Solana was at this RSI stage, it witnessed extended selling strain and changed into followed by means of a trend reversal. However, Solana rate has hit a historic demand area and is going via a length of extended sell-aspect stress on quantity.

Solana is coming near the call for area and the altcoin should witness high tiers of vendor volume. Analysts consider Solana charge may want to turn to the top of the purple field into new resistance and promote further consolidation.

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