Solana blockchain is evolving, and it has repeatedly been referred to by financial giants such as JP Morgan and Bank of America as a growing blockchain network. Solana’s decreasing market price and touching new lows since its high of November 2021 results from the degrading performance caused by DDoS attacks.Solana attempted a significant momentum from its last support of $77 in March 2022, but rejection has forced buyers to book profits and wait for better developments at SOL to re-enter. While SOL has gained a significant NFT share from ETH, the core performance of its network and ability to handle DDoS and similar attacks is pivotal for the continued success of this blockchain.
As prices are hitting fresh lows each day, the percentage of loss has been constrained to primarily single digits. Solana will have to surpass the 100 DMA curve currently trading near $100 to avoid further sell-off and subdue its negative sentiment. RSI has also hit the oversold zones, bringing a bullish view and buying potential for investors.
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