Solana Price Prediction: SOL Pumps 3% On New Product That Helped Turbocharge BONK As Traders Turn To This Meme Coin That’s Skyrocketed 1,011% In A Year

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The Solana value is up 3% within the final 24 hours to commerce for $97.21 as of 5:05 a.m. EST time, however buying and selling quantity dwindled practically 30%.
The Solana value uptick comes amid resurging chatter about Solana Cellular. It plans to unleash one other product into the market after the epic success of Solana Saga, which helped ship Solana meme coin BONK by the roof.
lol. simply so everyone seems to be conscious, @solanamobile saga gross sales have >10x’d up to now 48 hours, and at the moment are on observe to promote out earlier than the brand new yr.https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
The brand new product is predicted to make its market debut and journey the success of the crypto-ready Solana Saga cellphone.
The brand new product is not going to be so totally different from Saga, with options similar to an onboard crypto pockets, customized Android software program, and a “dApp retailer” for crypto purposes. Nonetheless, will probably be extra reasonably priced and with totally different {hardware}, in keeping with an individual accustomed to the matter, CoinDesk reported.
At launch in 2023, the Saga cellphone bought for $1,000. Nevertheless, the ecosystem was compelled to slash the charges due to poor gross sales. Latest eBay listing reveals a factory-sealed Saga cellphone promoting for $2,300.
That’s 5X greater than what it bought for 5 weeks in the past. The brand new Solana Cellular product may assist calm down the secondary marketplace for the prevailing Saga smartphones, with the worth surge steered by restricted provide.
The launch of the brand new smartphone may additionally assist catalyze the Solana value.
Solana Value Outlook With a New Product In The Works
Even after the latest hunch, the Solana value continues to be broadly bullish nonetheless consolidating inside an ascending parallel channel. This can be a bullish chart sample anticipated to ship extra features if the altcoin stays inside its boundaries.
Trying on the Relative Power Index (RSI), the momentum indicator continues to rise, displaying growing shopping for strain. If this trajectory continues, the RSI may quickly document a bullish crossover, transferring above the sign line (yellow band). Usually this purchase sign may catalyze enhanced worth.
If merchants harken to this name, the Solana value upside potential may very well be realized, with the following shopping for strain sending SOL previous the midline of the ascending parallel channel above the $100.00 psychological stage.
In a extremely bullish case, the Solana value may lengthen into the availability zone between $107.92 and $121.19. A cross and shut above its midline at $114.76 would verify the continuation of the uptrend. In a extremely bullish case, the features may extrapolate, with the Solana value flipping the availability zone right into a bullish breaker to tag the $126.36 resistance stage.
The extremely bold case may see the Solana value clear this vary excessive, standing 30% above present ranges, to document the next excessive.
TradingView: SOL/USDT 1-day chart
Converse Case
Then again, contemplating the histogram bars of the Superior Oscillator (AO) are decreasing in quantity and flashing purple, the bearish pull on SOL is growing. The nose-diving Transferring Common Convergence Divergence (MACD) indicator, southbound whereas transferring beneath the sign line (orange band) in December, reinforces this.
Ought to revenue taking ensue, the Solana value may drop beneath the rapid assist at $89.02. The subsequent transfer can be to gather the buy-side liquidity that continues to reside beneath. In a dire case, the hunch may lengthen south, with the Solana value prone to revisit the $68.03 assist flooring, final examined on December 18, standing 30% beneath present ranges.
Promising Different To Solana
In the meantime, all eyes are on Sponge V2, a meme coin poised for extra features after its predecessor, Sponge V1, recorded 100x returns after launch final yr and is now up 1,011% up to now yr.
Based on a high YouTube crypto analyst, $SPONGE has superior 10x from latest lows and appears properly positioned for even larger features forward.
Buyers seeking to purchase SPONGE V2 who don’t already personal SPONGE V1, should buy the V1 model after which stake within the bridging contract. This has been detailed on the Sponge.vip web site.
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