Solana Price Prediction: New Solana Meme Coin Surges 35%, SOL Rises 13% – New Bonk?

Solana prices pumping Over the past 24 hours, more than 13% has traded at $190.48 as of 2:15 a.m. ET.

Solana price rejects due to key resistance level.

SOL/USDT 4-hour chart (Source: TradingView)

that much Solana The price was rejected at the $195.08 resistance level over the last 12 hours. Due to this, the cryptocurrency is likely to fall to the immediate support level of $162.42 in the next 24 hours.

A break below this mark could be a significant bearish development as the price joins the medium-term positive trend line shown on the SOL chart.

Therefore, Solana price may fall to $149.28 in a few days. Due to extreme selling pressure, the value of the altcoin may fall to $141.17 in the short term.

This bearish argument could be invalidated if Solana price closes a 4-hour candle above $195.08 in the next 24 hours. In this alternative scenario, the cryptocurrency could attempt to turn the $208.08 resistance level into a support level.

Overcoming this threshold would pave the way for SOL to rise to $259.67 if the bulls seize the opportunity.

Technicals support a Solana price hike, but a bearish trend reversal could be coming.

technical indicators S.O.L.’s The 4-hour chart shows traders at a crossroads. Nonetheless, sentiment appears to be leaning toward optimism.

Over the past 24 hours, a significant bullish technical flag has been triggered by the Moving Average Convergence Divergence (MACD) indicator. During this period, the MACD line crosses above the MACD signal line, indicating that Solana price has entered a positive cycle.

The relative strength index (RSI) also indicates strength as it is located above the simple moving average (SMA) line on the 4-hour chart. Traders typically view these technical events as a sign that buyers have an advantage over sellers.

However, investors and traders will want to keep an eye on the indicator as RSI is currently tilted in a negative direction. This is a sign of reduced buyer power and could be an early sign of a future bearish trend reversal.

Solana meme coin sensation as SOL tries to remain strong SMOG The price has surged 35% in the last 24 hours.

The Next Solana Meme Coin Will Soar

Dragon-themed SMOG is one of the latest cryptocurrencies to join the Solana meme coin lineup, and looks set to repeat the early growth of major cryptocurrencies including BONK, WIF, and MYRO.

To increase the chances of success, the Smog team prepared a large-scale airdrop campaign to encourage participation in the project as well as build the community.

Season 1 of the airdrop campaign is scheduled to end on April 3, and the prize is reportedly worth a whopping $1 million. Season 2 comes out right after.

There is still time for investors to build up their XP to qualify for the Season 1 airdrop. Investors who want a chance to win tokens can still participate in the project’s Zealy campaign.

Investors build XP by completing quests, which is used to determine the portion of the airdrop each investor will receive.

A wave of buying pressure could soon hit SMOG.

There are several factors that could work in SMOG’s favor, causing the meme coin price to skyrocket. The first is that the project is launched in the very active Solana Meme Coin ecosystem, where millions of dollars have recently poured into the young meme coin.

Additionally, since 2024 is the Year of the Dragon, SMOG’s dragon-themed branding could appeal to the active Asian cryptocurrency community.

The factor with the greatest potential to increase the price of SMOG in the coming weeks is the launch of the second season of the airdrop campaign.

Unlike the first season, which allowed investors to rack up XP through completing quests, Season 2 will place a greater emphasis on trading activities centered around SMOG. This could trigger a wave of buying pressure, which could cause the price of the meme coin to surge in the short to medium term.

SMOG can be purchased using USDT, ETH or bank cards.

When you purchase on the platform, you will receive a 42% APY and a 10% discount on the market price, available through the SMOG staking program.

Smog available for purchase here.

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