Solana Price Prediction: Amid Buying Frenzy for New SOL Smartphones, This AI Presale Execution Speed Will Accelerate 3,000% Over Time

adminJanuary 21, 2024

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Solana price fell 5.5% in the last 24 hours Deal for $94.15 As of 4:29 a.m. EST, trading volume was down 15% to $2.6 billion.

The decline comes amid a buying frenzy for the new Solana Mobile phones. Chapter 2, garnered unprecedented demand in the form of pre-orders. Priced at $450, the phone offers similar features to its predecessor, the Saga, and represents a significant opportunity for developers and users in the cryptocurrency space.

🚨Breaking News: @SolanaMobileThe Chapter 2 phone surpassed 30,000 pre-orders in just 30 hours. pic.twitter.com/V5iArrQdJ8
— Solana Floor | Provided by Step Finance (@SolanaFloor) January 18, 2024

Demand for the new device surpassed sales of its predecessor, the Saga, within the first 24 hours, with Solana Mobile receiving more than 25,000 pre-orders, jumping to 30,000 within 30 hours. These orders have already exceeded Sagaphone sales over the past 12 months.

This high demand can be attributed to the unique features of Chapter 2 phones, which include a built-in cryptocurrency wallet, Seed Vault, and a “dApp store” for decentralized cryptocurrency applications. It is also based on Android and has a similar design to the Saga phone.

Solana Price Bulls Face Temporary Setback

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

Solana price gradually rose after a long period of consolidation, gaining momentum and reaching the resistance level of $126.10.

However, at this point, the bulls’ momentum shortened, allowing the bears to apply downward pressure on the subsequent retracement, forming a bullish pennant, implying a continuation of the bullish trend in Solana price.

This decline could allow the bulls to regroup and prepare for another rally from the $83 support level, which is in line with the 50-day simple moving average (SMA).

The price of Solana remains above the 50-day and 200-day simple moving average (SMA), with the SMA indicating a crossover of $22 and the 50 SMA acting as immediate support for the SOL price.

The Relative Strength Index (RSI) remains above the midline of 50, indicating a possible rebound that could push RSI up to 70, which is overbought territory.

Solana price prediction

that much The presence of the bull pennant allowed the bulls to regroup. A rally to recoup losses and push the price to expected highs in 2024, targeting around $150.

However, if the downtrend continues, the price may approach the $87 threshold (marked by Support 3).

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Launchpad XYZ presales near $3 million goal

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