Между тем, the SOL’s latest downside move forms a classic bullish continuation structure, with a profit target above $250.
Солана (СОЛЬ) price extended its slide on Sept. 17 as a major network outage over the past week — pointing to heightened security risks — hit traders’ уверенность.
The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 в сентябре 9. В следствии, SOL’s price has crashed by almost 40% since its all-time high last week, despite more than tripling its value in the past 30 дней.
Outage hurts SOL price
Solana backers tout its layer-1 blockchain solutions as a direct competitor to Ethereum. That is mainly due to its potential to ensure higher speed and lower transactions costs than the world’s leading smart contracts platform.
тем не мение, в сентябре. 14, Solana suffered a denial-of-service disruption, wherein a spike in transaction load — of up to 400,000 per second — overwhelmed its network. В следствии, Solana’s mainnet beta suffered 18-hours of instability, forcing decentralized applications (dApps) working atop its blockchain to become unusable.
1/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.
— Solana Status (@SolanaStatus) сентябрь 14, 2021
The root cause of the issue was reportedly a decentralized exchange, Raydium. On it, bots attempted to buy SOL tokens and, как результат, flooded the network with up to 400,000 транзакций в секунду. С другой стороны, Solana validators failed to prioritize transactions, causing a chain split.
SOL/USD rates fell up to 19.17% к $137.15 в сентябре. 14, only to rebound sharply later to close the day at a 6.47% потеря. Тем не менее, the sell-off continued in the next sessions, driven by fears that Solana is more centralized than its top rival Ethereum.
Gavin Wood, the co-founder of Ethereum and another rival blockchain network Polkadot, pointed out that Solana functions with an “exclusive and closed set of servers,” which somewhat increases its network’s speed but comes at the cost of lower decentralization.
The comments appeared as Ethereum successfully withstood against the same attack.
Lol, WTF is going on today? $sol goes offline for a few hours#arbitrum goes down for almost an hour#ethereum got attacked (unsuccessfully)
- Ларк Дэвис (@TheCryptoLark) сентябрь 15, 2021
In a tweet issued on Sept. 16, Solana promised to take more proactive steps against potential hacking attempts. The foundation also announced that it would publish a “detailed post-mortem” analysis in the coming weeks.
Bull flag e
SOL/USD expects to resume its prevailing bullish momentum despite the price correction as it paints a classic technical structure with an upside outlook.
Связанный: BTC takes aim at $50K; Solana goes down; Is ETH ‘sound money’? | Watch The Market Report w/ Charlie Burton
Dubbed Bull Flag, the pattern forms when the price consolidates lower in a descending channel (FLAG) following a strong move upward (FLAGPOLE). В конечном итоге, the price breaks above the channel’s upper trendline, typically rising by as much as the Flagpole’s height.
Solana’s recent price action has led it to form a similar Bull Flag pattern. В следствии, its next attempt to break above the Channel’s upper trendline could lead its price as high as the flagpole’s height, which comes to be around $107.
В следствии, SOL/USD could reach $250.
Взгляды и мнения, выраженные здесь, принадлежат исключительно автору и не обязательно отражают точку зрения Cointelegraph.com.. Каждое инвестиционное и торговое движение связано с риском, вы должны провести собственное исследование при принятии решения.
Adblock тест (Почему?)