Topic: Let's talk about SOL resilience for recent market correction - page 2. (Read 410 times)

Your observation of Solana behavioral trends relative to other cryptocurrencies such as Bitcoin and Ethereum is indeed interesting. However, Solana's tendency to surge while other major currencies are consolidating could be a potential indication that it is might soon reach new all time (ATH) in the near future. Your forecast for future price movements seems to hold merit.

Despite this positive outlook for Solana, it is important to approach investment decision with caution, taking into account one's financial situation and risk tolerance level.

Many projects are recently running under solana chain which makes this possible. One example is meme coins under its name which are succeeding shortly upon being launched and for sure many investors are aware of this. The emergence of new projects is probably the reason why SOL remained still and is now showing upward stability with its market value for months already. As othe users have mentioned it somewhat competes with BNB nowadays. BNB having launchpools and SOL with new projects in the market. Both are good however, Binance is quite having spread of rumors being prohibited in some countries due to some issues, but that's a different topic to discuss. Future's bright with SOL and I personally invested a reasonable amount because of its obvious potential on the current bullish market trend.
Will remain an assumption unless proven right? But it's not only for a week wherein SOL is having the sppotlight to be honest. It was just being shaded over by other altcoins but if we would view the charts, it's been 5 mosbsince it started its upward rally which is already promising on my end. Just the idea of being able to follow the trend created by major coins, could be a conclusion that a token is having big volume from its community of users and investors. Right now, SOL is about to reach its previous ATH and I won't doubt that it's possible especially with wht we are seeing recently.

the community around sol is really strong to be fair, their many dapps are reaching billions in market cap, right now JUP is reaching around UNISWAP if not more in its fully diluted market cap its only matter of time that the token are gonna be unlcoked at some point I believe. therefore if someone says that sol not gonna be dumping even when bitcoin getting some correction i would honestly believe.
if you think about it, solana has been people's favourite coin since it was going up 10x within short amount of time before bitcoin is getting this high.
people are just repeating that history but in short term manner, even the meme coin thats available in solana are having instant listing on popular exchange as well as haivng their market capitalization raised to billions just within short amount of time that it kinda reflect the state of solana right now.
the coin itself is bullish, the ecosystem is bullish as well, coin that are dumping back then that are coming from solana ecosystem are also gaining massive rally.
i think its just solana season occurring.

It is always the same story when people see news like moving thousands of btc to an exchange, which will cause a panic attack. No doubt about SOL resiliency is visible but it's because we're in the bull run. If it's not the bull run and let's see how it will be on the bear market then it is not going to do good. Anyway, the ranking now of SOL has become #4 and replaced BNB from that spot sending it to #5 spot. Well, that means that it's moving decently and it has got a great community.

Certainly, Solana has demonstrated  remarkable resistance amid current flash crash of Bitcoin market, while the whole crypto currencies market was sliding down and Solana price was surging. It suggests the presence of significant development that is driving the Solana price trajectory, which could include interest from financial institute regarding potential ETFs. This is just a speculation, and it is impoprtant to wait for any concrete development before making investment decision. DYOR

This doesn't mean anything perse, doesn't mean it s not saying anything neither, I am just saying we can't make a decision based on just one week. Yes, it is true that the market hasn't been kind since reaching above 70k, but at the same time SOL has been doing one of the best runs in the past one week, definitely highest among the top ranked coins for sure, it's just doing great. Does this mean that SOL will keep being awesome? Maybe, it could mean that and I can't say it won't.

But, does it guarantee that SOL will do fine? No it does not, it could still do terrible and we do not know how it will react. Maybe it will get a correction right when other coins start to go up, we do not know and anything could happen with this for sure.

Solana has indeed been pumping too hard this time. It was behaving the same way in the last bull run as well.
What I mean is, when coins like bitcoin and ethereum were pumping then Solana was idle.
But when they were being consolidated, Solana was the top most coin pumping too hard.
I have observed the same thing this time and this means that Solana is going to make another ATH very soon.

Solana was doing better even before the ETF approval and bitcoin spike which people felt was the cause of the increase in the price of cryptocurrency. From my observations solana seems to be the only altcoin that was traded so much as of last year ending and in the begining of this year. If the price is correcting now it would be of advantage and not a disadvantage to investors. Lets watch and hope to see that very soon there will be balance in the coin.

Solana is surprising me at the moment at least.
I had and have good believe in Solana but i could never imagine this fast journey and i wonder how long it gonna last but a new ATH should be possible. I am not selling anything right now.  What is good with Solana is all the Solana wallet's that is very easy to use and you can swap your Solana to example USDC in no time to a extremely good rate with very low network fee's it's a way to protect yourself from the fall when it comes so you can earn even more Solana during that time, the future looks bright it sure does  

Solana's been doing well lately, even when other cryptos aren't. It's not at its highest price, but it's been going strong for a while now. More people use it daily, which is a good sign for its future.

There are overall effect of market movement on all coins but the case with solana is, they are on an  increasing trend stronger than any overall movements. Just a few months ago, they were being accumulated around $20 and the bull arrived on solana when all the market were on their sideways hitting $100 in a few months time, they for some months resisted around $100 and are again doubling on the overall bull. There has been some correction on the overall market and that's even true for solana but as they are on an increasing trend, they'll keep increasing while other coins move sideways.

Solona was a real surprise, but whether the trend is long-term bullish for SOL, or just a temporary uptick and only time will tell.
And according to the news regarding the rise of Solona when almost all altcoins experienced a decline and Bitcoin corrected, this was caused by increased whale activity and Solana managed to steal attention in the crypto market and its popularity continues.
It looks like $195-200 is the next target that I think will happen in the near future.
And whether Solona will reach its previous high of $260.06 in the near future or not.

Most of the smart contracts (or shitcoins) volume from BSC and ERC has moved to SOL, that has caused the surge up

When BTC and ETH were pumping, SOL wasn't moving upwards that much. Perhaps the late upward movement by SOL is something normal and more of a reaction to the previous pumps of BTC where it when past it's previous all-time high.

We also must not forget that SOL is yet to go past it's previous all-time high which was around $250 and right now it's a hot spot for NFTs and new tokens due to the very low fees.

4637 BTC cannot lead to a reversal of the market trend or a correction, compared to daily trading volumes of about 1,133,787 BTC and a market capacity of more than a trillion dollars. 5,000 BTC or even 20,000 BTC is considered a drop in the ocean.
What led to the correction is that the price of Bitcoin was unable to continue its rises, as the price has not witnessed a real correction since the $40,000 levels. We have come close to doubling the price without a serious correction.

Sol is pumping continuously without any major correction, which can be a concern for a long term. Whales are not ready to sell right now which means they know something, and at some point in their journey they will cash out their holdings for sure. The correction will be hard at that time because panic will spread fast and everybody will try to book their profit as most of them are just holding sol for a long time. Some people don't want to sell their sol due to any future potential airdrop as well.

Perhaps it's strange to me and believe it is too to others.

I have always believe in SOL but this move is not part of my reasons before now but soon it will be, it's can be considered a new market strategy to get more investors but what I'm wondering now is how is it even possible that Bitcoin dips and an altcoin did not crash.

So I did a quick search to find out why the move on SOL but I couldn't find a cleared reason. here is the only relatively sensiable fact by coindesk.

Just today, after a rollback to $160, SOL rise to 180 (at its peak $185). In percentage terms, this is quite significant (12.5%), but in absolute terms, not so much ($20). The same can be said about the opposite situation with a drop in value. Of course, it all depends on how much SOL you have.
Most likely, the large influx of liquidity and, therefore, the cost of SOL was influenced by low fee's in the chain. You can quickly manage your funds with minimal losses (staking/restaking with more favorable conditions or APY). As they say Solana chain for degens, which I mean as a huge number of shitcoins, NFT flipps and airdrops as well.

I am pretty sure another leg down would affect SOL as well, but i don't think it would as harshly as it would to others. And ETH didn''t show much strenght on this drop, so i can't imagine why it would with next leg down.

But right question is, why those SOL VCs haven't pulled it already from here, assuming they did that with every coin and token out there. Airdrops can't be the only reason. There have been successful airdrops in the past for others as well and recent price surge hasn't happened with SOL alone. So are there other reasons why only VC:s in SOL are late to the game?

And i am not sure what you mean with general market being bearish, but this dip was for general (crypto) market (except sol for some reason). So maybe you had other time frame in mind or other than crypto markets

Wait for the VC pull out their liquidity to take profit. Simply because there’s still a lot of juices entering on Solana ecosystem until now but it will be another hard crash again if the correction on Bitcoin becomes harsh soon. There’s some project like this in the past which show strength even on bearish market such as Ethereum but suffer hard crash too when the general market turns to bearish.

Due to the recent airdrop opportunity. Solana ecosystem becomes popular again but I’m skeptical that VC will not take profit if the market becomes bearish again.