The Fall of Solana Price
The Solana price has depleted by 5.5% in the past 24 hours and is currently valued at $94.15, with trading volume down 15% to $2.6 billion.
This drop can be linked to the high demand for the latest Solana Mobile phone, Chapter 2, which has received remarkable preorders. The phone, which is priced at $450, offers similar functionality to its predecessor, Saga, and presents significant opportunities for developers and users in the crypto space.
Rising Demand for Solana Mobile Phone
The phone has surpassed the sales of its predecessor, Saga, within the first 24 hours with over 30,000 preorders, which is an impressive feat.
This immense demand is due to the unique features of the Chapter 2 phone, including a built-in crypto wallet, a Seed Vault, and a “dApp store” for decentralized crypto applications. It is also Android-based and has a similar design to the Saga phone.
Solana Price Bulls Face A Temporary Setback
The Solana price has been gradually ascending, reaching the resistance level at $126.10. However, the bear’s downward pressure has contributed to a bullish pennant formation, indicating a bullish trend continuation for the Solana price.
This downturn creates an opportunity for upward momentum for SOL price, as it remains above the 50-day and 200-day Simple Moving Averages (SMA).
Solana Price Prediction
The presence of a bullish pennant has allowed the bulls to regroup for a bull rally that could propel prices to project highs in 2024, targeting around $150. However, in case the bears continue to dominate, the price could approach the $87 threshold.
As traders search for favorable entry points for SOL, they can consider exploring the launchpad XYZ token, which unveils the secrets of web3 crypto trading and how to find the next 30X crypto.
Launchpad XYZ Presale Nears $3M Goal
The presale has secured over $2.6 million in funding and is racing towards its target of $3 million, with its run rate surging 3,000% in the past few weeks.
The LPX tokens are currently available at a discounted price of $0.0445 per token, with the token claim to follow on January 29, and immediate listings on decentralized exchanges.
Traders Report Profits Of Up To 30x ROI
Traders using the trading signals provided by Launchpad XYZ are enjoying remarkable returns, with some achieving impressive profits of up to 30x ROI from its free call signals.
VANI, a Launchpad XYZ member, has observed traders consistently earning substantial monthly profits.
A Chance To Earn Passive Income, Join The P2E Games
The Launchpad platform offers a play-to-earn feature, allowing you to generate passive income by playing games. Holding a minimum of 10,000 LPX tokens also provides benefits such as reduced trading fees on Launchpad DEX.
Hot Take: Heightened Activity Expected in the Solana Space
The Solana price has faced a temporary setback due to declining momentum in the last 24 hours. However, its distinct features and continued demand for the new Solana Mobile phone, Chapter 2, are projected to propel prices to new highs, targeting around $150 in 2024.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.