Why is SOL so popular? The upcoming bull market may bring unexpected surprises to investors!
SOL is far more than just a public chain or a digital currency. It has built a prosperous ecosystem:
First, SOL has attracted a large number of users with its ultra-high transaction speed (more than 6,700 times per second) and low gas fees.
Second, the SOL Foundation is supported by many large capitals, showing its strong strength.
In addition, SOL currently has excellent liquidity, attracting many project parties to issue tokens on it, almost accounting for the sum of other public chains.
Finally, the NFT market on the SOL chain has developed rapidly, with sales increasing by more than 36% in the past week alone, showing a growth momentum that exceeds Ethereum.
Technical analysis of SOL:
Judging from the KDJ indicators of the weekly and daily lines, SOL has performed stably and has continued to remain below 20, showing strong resistance to declines. It is expected that the daily cycle will see a secondary bottom divergence pattern, and the price may form a bottom-picking opportunity around $121 to $115 to $100. The short-term target is in the $150 to $198 range, and the medium- and long-term target is in the $300 to $350 range.
