Solana price rose by 2.9% in the past 24 hours to $91.79 as of 6:29 AM EST. Trading volume fell by 5.7% to $1.9 billion. The rise was due to BitMEX co-founder Arthur Hayes stating his intention to “buy” Solana (SOL).
His decision was triggered by his predictions of a mini financial crisis and increased inflation, factors he believes could cause Bitcoin prices to fall to $30,000. Hayes said he would start buying SOL and Dogwifhat (WIF) once Bitcoin falls below $35,000.
Solana Price Bulls Prepare to Breakout of Bullish Flag Pattern
Solana’s recent movement in the market has been characterized by a slow and steady uptrend, which managed to break out of the consolidation zone after breaking above the $126.10 resistance level. However, this positive momentum was interrupted by a pullback, forming a bullish flag pattern, which suggests that the uptrend may continue.
The current decline has enabled the bulls to regroup with the goal of targeting the $83 support level, which coincides with the 50-day Simple Moving Average (SMA). Solana’s current price position is below the 50-day and 200-day SMAs, with an SMA crossover at $97, with the 50 SMA acting as an immediate resistance.
The relative strength index (RSI) has recovered from 30 to 58, indicating strong buying pressure on the SOL price. An increase in momentum could push the RSI into the overbought zone (over 70).
Solana Price Prediction: Bulls Expect Breakout of Small Flag Pattern
The presence of a bull flag pattern adds to the positive outlook, predicting a quarterly high of around $150. However, if the ongoing bearish trend persists, the price could move closer to the $68 threshold.
As Solana buyers await clearer directional signals, investors hungry for big returns are quickly buying up a new green AI token called eTukTuk.
eTukTuk, currently in its pre-sale phase, has successfully raised over $564,000 and is moving towards its soft cap of $680,000. eTukTuk is an innovative project that aims to transform the transportation industry in developing countries by introducing electric TukTuk and sustainable charging infrastructure.
eTukTuk's core mission is to combat carbon emissions, improve health, and promote financial inclusion. It operates on the Binance Smart Chain and adopts a decentralized sharing economy model to achieve scalability, security, and efficiency. The core focus of the project is environmentally friendly electric vehicle charging infrastructure and affordable electric TukTuk (eTukTuk).
In addition, eTukTuk provides incentives for its community. You can buy and stake $TUK token to get an annual yield of 374%. The more you stake, the higher the reward.
The project will also launch a game called Crazy Taxi to achieve Play to Earn (P2E). This game will attract new investors and players will drive passengers to different locations on the chaotic streets of Pakistan. Players will receive $TUK tokens for each mission completed, upgrade and unlock new global cities.
Jacob Bury, a cryptocurrency analyst, said on YouTube that projects like this are the future of cryptocurrency. He believes $YUK has 10x potential when it goes public.
The price of $TUK tokens is currently only $0.026 per token and will increase in four days, so buying now is the best option.
You can purchase $TUK tokens by visiting the official eTukTuk website. Redeem $TUK tokens using BNB or USDT, or purchase directly using a bank card.
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