Powerledger Embraces Solana Ecosystem, Advancing Sustainability in Blockchain

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Sep 23 2024

SOL-2.475%

POWR-3.953%

Should l Buy SOL?

Powerledger's Integration with Solana: Australian energy technology firm Powerledger has integrated with the Solana blockchain to enhance its commitment to sustainable innovations and contribute to Regenerative Finance (ReFi), focusing on social and environmental impacts alongside economic gains.
Impact on Clean Energy and POWR Token: This collaboration aims to elevate discussions around clean energy in the blockchain community, while Powerledger’s native POWR token will now function within the Solana ecosystem, supporting initiatives like peer-to-peer energy trading and carbon credit trading.

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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 4 technical signals, shows that 1 indicators are flashing buy, while 3 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 crypto.

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	35.565	51.532	67.735	83.702	99.905	115.872	132.075
Fibonacci	51.532	63.821	71.413	83.702	95.991	103.583	115.872

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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