The Solana network has suffered its fourth significant outage since January on the 1st of October. The network stopped processing transactions and went offline. A year ago, there was a very prominent outage on the Solana Network. The network was out for almost 18 hours in September of last year.
The latest network outage was attributed to a misconfigured node as the primary cause. Immediately following the notification of the “poor performance” , the Solana Status Site stated that the network suffered an outage. It took around six hours to restore the network.
Key SOLANA Levels to Watch — October 6
Solana experienced a massive breakout on the 18th of August 2022. The market ascended from the support zone at $25.90 to the supply level at $48.40. Bears stormed the market at the supply zone. This prompted a bearish displacement from an already-formed ascending triangle.
The market was overbought at the resistant $48.40 trade level. This aided the ease of the crash as the market pressure on the higher band of the Bollinger. The market dived to the support level of $30.00.
The daily candles have moved above the Moving Average between the Bollinger Bands. The market is almost in the oversold region as seen on the Stochastic. A little push higher is expected to prompt a crash to $30.00.
Solana Key Levels
Resistance Levels:$48.40, $42.50, $39.00
Support Levels: $25.90, $30.00, $31.70
Total Market Capitalization:$ $958.8B
Solana Market Capitalization: $11.9B
Solana Volume: $705.6M
Market Rank: #9
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