Solana (SOL) Impressive Growth and Adoption
The weekly price of Solana (SOL) has surged, ranging between $132 and $185, marking a notable increase of 14.02%. Presently, Solana is experiencing significant traction, with almost $4 billion in Total Value Locked (TVL) and a stablecoins market cap of $2.6 billion.
The introduction of Bilshare (BILS), an Israeli Shekel-backed stablecoin, on the Solana blockchain has garnered investor interest.
Despite the optimism surrounding Solana’s bullish uptrend, caution is advised as the Relative Strength Index (RSI) stands at 80.50, indicating that Solana (SOL) may be overbought and vulnerable to a potential reversal.
Traders are encouraged to exercise prudence and implement tight stop-loss orders to protect profits amidst market volatility.