Solana Price Prediction: SOL lost $100 support with 7% plunge, but investors are all in on the meme coin pre-sale as it surges toward $8 million.

adminFebruary 2, 2024

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Solana price has plummeted 7% in the last 24 hours. Deal for $95.78 As of 6:27 a.m. EST, trading volume was up 5.3% to $3.8 billion.

In the past, Solana has shown resilience and bounced back from downturns. For example, it fell below $8 in late 2023, but exceeded $100 in early 2024. Will we see another bull market?

Solana price trending upward as it breaks through a bullish pennant

Solana price chart analysis Source: Tradingview.com — SOLUSD Chart Analysis Source: Tradingview.com

Solana price remained in the bullish zone above the $80 and $82 support levels. However, the downtrend has put pressure on the price of SOL, with it losing $100 support and settling at the top of the pennant.

The bulls were active near the $92 area and a base was formed which pushed the price up slightly to $95.78.

Solana is currently trading slightly above its 50-day simple moving average (SMA), confirming the bullish sentiment. If this bullish momentum continues, the 200-day SMA hurdle could be overcome.

The relative strength index (RSI) rebounded from 36 to 44, indicating strong buying pressure. Increasing momentum could push RSI towards the 70 overbought area.

Solana price prediction

Solana price bulls expect higher targets around the key resistance level of $126 as the bullish pennant adds to the positive outlook.

However, in the opposite scenario, if the bears exert more pressure, the price could approach the $68 threshold if the bearish trend continues.

As Solana bulls look for a rebound, investors looking for significant returns are turning to Meme Kombat. Analysts say this GameFi project is poised for explosive growth after launch.

Meme Kombat raised $7.8 million in pre-sales, reaching $8 million goal

Meme Combat (MK) Pre-sales secured $7.8 million in seed funding, reaching a target of $8 million. Once the goal is reached, the team is planning a $25,000 giveaway, and you can easily participate by winning MK tokens at a discounted price of $0.279.

We successfully achieved $7.8 million in revenue. $MK Reservation⚔️
Congratulations everyone! pic.twitter.com/NG0lZmNUZ9
— Meme Kombat (@Meme_Kombat) January 31, 2024

The price will remain at $0.279 per token until the team reaches its hard cap goal of $10 million.

Join Meme Kombat, stake and earn rewards

Meme Kombat is a project that offers a fun approach to infusing excitement into the cryptocurrency space by mixing meme culture and tokenized combat.

A virtual battle arena pits iconic meme characters in dynamic, AI-powered duels.

You can participate in these battles by betting on these digital clashes using MK tokens and receive rewards if your predictions are correct.

The Meme Kombat team also envisions the completion of the Meme Kombat NFT in a timely manner. NFTs will bring utility to MK Season 2 through a unique fusion of art and functionality.

you are #MemeKombat NFTs? ⚔️
We’re working hard to get it out there and show it to you soon! pic.twitter.com/aPW8S7ZHTg
— Meme Kombat (@Meme_Kombat) January 31, 2024

you also Stake your earned MK tokens Earn an impressive Annual Percentage Yield (APY) of 119%. Over 33 million MK tokens have already been staked and over 7 million rewards have been paid out in $MK.

YouTube cryptocurrency analyst Jacob Bury said MK is likely to explode after launch.