Nifty News: PayPal removes NFT protections, Adidas NFT sneakers and more

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Apr 23 2024

SOL-0.505%

NFT-5.09%

GMT-1.457%

Should l Buy SOL?

PayPal removes protections for NFT buyers and sellers:
- PayPal is removing buyer and seller protection coverages for NFT purchases, effective May 20.
- The Purchase Protection Program will no longer cover NFTs, and the Seller Protection Program will exclude NFT transactions over $10,000.
Adidas and Stepn release NFT sneakers:
- Stepn partnered with Adidas to release co-branded sneaker NFTs on the Solana network.
- The collaboration aims to offer digital assets promoting healthier lifestyles, costing about 10,000 GMT tokens.
Louis Vuitton drops $8,400 phygital varsity jacket:
- Louis Vuitton released a varsity jacket worth $8,400, including a physical garment and a corresponding digital collectible NFT.
- Designed by Pharrell Williams, the jacket can be purchased through a token-gated site and is part of the Via NFT project.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	30.854	49.177	70.044	88.367	109.234	127.557	148.424
Fibonacci	49.177	64.148	73.396	88.367	103.338	112.586	127.557

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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