Solana Struggles as TRON and Ondo Gain Traction

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 18 hours ago

SOL-1.579%

PEPE-1.458%

TRX+0.806%

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Solana's Market Confidence Weakens: Solana has fallen nearly 30% year-to-date, sliding from around $130 to $91, which has weakened market confidence as traders seek stronger investment opportunities with better price momentum.
TRON Shows Strong Performance: TRON (TRX) gained over 7% on May 26, closing near an 8-month high of $0.353, with buyers defending key support levels, enhancing trader confidence and positioning TRX as a potential top performer in the current market cycle.
Ondo's Price Surge: Ondo (ONDO) skyrocketed by over 60% in a week after breaking above key resistance at $0.30, reaching a high of $0.47, with strong buying volume and bullish technical signals attracting momentum traders looking for fast-moving assets.
Little Pepe Emerges: Little Pepe (LILPEPE) combines meme culture with Layer 2 blockchain utility, quickly becoming a high-potential alternative for investors, raising over $28.18 million in its presale, indicating strong market demand and community engagement.

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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 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	71.887	75.943	79.737	83.793	87.587	91.643	95.437
Fibonacci	75.943	78.942	80.795	83.793	86.792	88.645	91.643

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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