Solana Price Prediction: As SOL Rises 6%, This SOL Airdrop Meme Coin Hints at a New Top Exchange Listing

adminMay 10, 2024

join us telegram A channel to stay up to date on breaking news coverage

Solana price has surged 6% in the last 24 hours. Deal for $153.97 As of 3:22 a.m. EST, trading volume was up nearly 1% to $2.2 billion.

This follows FTX announcing that it had realized enough funds to repay victims of the exchange’s 2022 decline. FTX had previously proposed making this repayment after selling assets, including a significant portion of SOL.

FTX repays creditors in full
FTX announced in a court filing that it would repay the $11.2 billion it owes to creditors, as well as potentially provide additional interest payments.
The exchange, which has assets ranging from $14.5 billion to $16.3 billion… pic.twitter.com/LH6tvuhCGk
— Cryptocurrency Town Hall (@Crypto_TownHall) May 8, 2024

Now that selling fears are gone, SOL appears poised for a rebound, and could liquidate $125 million in short positions if Solana’s price rebounds 5% to $157.

Solana price is set for a bounce against the inverse head and shoulders pattern.

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

Solana prices rose dramatically in March, reaching a yearly high of $209.71 on March 18, up 70%, according to GeckoTerminal. Since then, SOL has not regained these highs. Mid-April.

As SOL fell further to the $125 support line, the bearish trend showed dominance and broke through the $177 support line. SOL’s recent price action over the past two weeks has formed an inverted head and shoulders pattern. The bulls are aiming to push the price above the neckline at $159.

SOL is trading gracefully above the 50-day and 200-day simple moving averages, confirming the bullish potential of the price.

Moreover, the relative strength index (RSI) readings indicate a buying frenzy, with intense buying pressure as RSI has bounced from oversold levels and is heading towards overbought territory, currently at 62.

Moving Average Convergence Divergence (MACD) supports bullish sentiment, with the MACD (blue) line crossing over the signal line (orange), forming a bullish crossover. Bullish crossovers often encourage bulls to buy more.

Additionally, a green bar begins to form above the zero line, signaling the start of an upward breakout towards positive momentum. The Average Directional Index (ADX) is currently trading above the 25 level, which is currently at the 26 level, indicating a strong bullish trend.

Solana price prediction

Solana long-term price analysis shows that SOL bulls are poised to push the price higher as they look to take advantage of an inverse head and shoulders pattern to push the price higher with a target of $200.

However, if bears take control of the price from this level, SOL may head back to the next support at $145.32, which is in line with its 50-day SMA.

As the SOL price rally aims to push the price higher, investors are also buying the Solana meme coin $SMOG, hinting at an imminent listing on another top exchange.

SMOG: What is the best 100X coin you can buy right now?

SMOGhas consistently garnered attention since launch for its innovative approach to incentivizing token holders and driving community engagement through its ‘greatest ever’ airdrop program.

This strategy is designed to strengthen user engagement within the Smog ecosystem and reward active contributors.

one #memecoin To rule them all! 🚀
Get ready for the best moment #airdrop Distributed in History #Solana. 💰
join #smog From Jilly! 🔥
Profile link 🔗 pic.twitter.com/vsn4p5cSF4
— Smog (@SMOGToken) February 8, 2024

In Airdrop Season 1, Zealy rewarded $SMOG token holders for participating in the project’s questboard and completing daily quests and community tasks for XP. The first season concluded with snapshots taken on April 3 and a sweepstakes worth about $1 million.

On the same day, the team announced the listing of the token on the MEXC Centralized Exchange (CEX), adding that the door may be opened for listing on another top exchange.

We are pleased to announce the following: @SMOGToken Kickstarter has ended $smog will be listed on #Mexico!
🔹Deposit: Open
🔹Innovation Zone SMOG/USDT Trading: 2024-04-04 09:00 (UTC)
Details: https://t.co/3ecyvrTv2n pic.twitter.com/kvgoFiYOib
– MEXC (@MEXC_Official) April 4, 2024

Airdrop Season 2 has since begun and is currently underway, with the focus shifting to on-chain activity.

Investors can also earn passively by: $SMOG token staking Annual Percentage Yield (APY) is 42%.

Buy or Stake ERC-20 $smog #token Through our platform. 💰🐉
Staked tokens are securely locked for 90 days and rewards available for withdrawal at your convenience. 🔒💸
All tokens purchased through our service are automatically staked. 🔄
🔗https://t.co/8dPFpww1Ub
— Smog (@SMOGToken) February 22, 2024

According to 99Bitcoins, a popular cryptocurrency YouTube channel with over 700,000 subscribers, $SMOG has the potential to surge 100x after launch.

With the token development team hinting that another top-tier exchange listing is in the works, now could be a great moment to secure the token before it becomes more widely available.

The best place to buy Smog Tokens is the official website.A 10% discount is provided while the offer lasts.