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- Brave Software announced Solana DApp support in a new partnership.
- Whale movement sensed in SOL.
- Def Jam Recordings announced collaboration with Solana-based Catalina Whale Mixer.
The Brave mobile browser partnered with Solana dApps, after adding support for the popular proof-of-stake blockchain to its desktop browsers. It added that it also has mobile integration on Twitter, for users to connect with Solana NFT marketplaces and crypto exchanges. In the shadow of the new “SO(L)Brave” integration, millions were moved by SOL whales. Whale Alerts have observed significant SOL transfers worth 7.9 million SOL, amounting about $184.5 across wallets.
The ritual of collaboration continues, as legendary hip-hop music label Def Jam Recordings announced an alliance with Solana-based project Catalina Whale Mixer to create a visual band. The virtual band named The Whales, will bring together splashy whale avatars from the Solana profile picture (PFP). Another integration that caught investors’ eye was the one between Chorus One and Solana. Chorus One’s protocol will integrate maximal extracted value (MEV) on Solana, but the proper execution might take time.
The Picturesque
SOL prices, despite all the disclosures, show negative movements. The price has, although formed a bullish flag, but has booked a loss of 5% in the intraday session and about 11% in the past 7 days. The volume is on the decline after the bullish breakout in mid of January. The falling OBV suggests the market conditions to not be favorable and might require for the situations to change for the good. The EMA ribbon, except for 200-EMA, floats below the flag. If current prices of $22.85 can break out of the regression channel near $26.45, a high run reaching $34.20 may be observed.
The indicators suggest prices struggle to maintain the bullish momentum. The CMF moves in the negative zone, indicating bears trying to take over. The MACD observes a negative cross and records ascending seller histograms. The RSI falls to find a spot near the 50-mark average, reflecting declining buyers’ grip.
The Peephole
The smaller time frame gives out mixed signals, and sets the market at neutral. The SOL prices move sideways, showing a stagnant market. The CMF moves akin to the baseline for the disinterested market. The MACD goes ambiguous as the lines entwine with each other. The RSI moves to the lower half to show seller dominance in the price action.
Conclusion
Despite all the efforts, SOL responds negatively. The new developments will take time to change reactions, as first it has to nullify the loss occurring due to FTX collapse. The SOL holders to watch for the breakout near $26.45.
Technical levels
Support levels: $14.25 and $9.30
Resistance levels: $30.00 and $37.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
