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The Solana price has plunged 5.5% in the last 24 hours to trade at $94.15 as of 4:29 a.m. EST, with its trading volume dropping 15% to $2.6 billion.
This decline comes amid a buying frenzy for the new Solana Mobile phone, Chapter 2, which has garnered unprecedented demand in the form of preorders. The phone, which is priced at $450, offers similar features to its predecessor, Saga, and presents significant opportunities for developers and users in the crypto space.
🚨 BREAKING: @Solanamobile's Chapter 2 phone hits 30,000 pre-orders in just 30 hours. pic.twitter.com/V5iArrQdJ8
— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 18, 2024
The demand for this new device has surpassed the sales of its predecessor, Saga, within the first 24 hours with Solana Mobile receiving over 25,000 preorders that surged to 30,000 by the 30-hour mark. These orders have already exceeded the sales of the Saga phone over the past 12 months.
This high demand can be attributed to the unique features of the Chapter 2 phone, which include a built-in crypto wallet, a Seed Vault, and a “dApp store” for decentralized crypto applications. It is also Android-based and has a similar design to the Saga phone.
The Solana Price Bulls Face A Temporary Setback
The Solana price has been rising gradually on an upward trend after a prolonged period of consolidation that gave the bulls a platform to send the prices high, reaching the resistance level at $126.10.
However, the bulls’ momentum was cut short at this point, allowing the bears to exert downward pressure in a subsequent retracement, forming a bullish pennant, which signifies a bullish trend continuation for the Solana price.
This downturn allows bulls to regroup and gear up for another upward push at the $83 support level coinciding with the 50-day simple moving average (SMA).
Solana’s price remains above the 50-day and 200-day Simple Moving Averages (SMA), with the SMAs indicating a cross at $22 and the 50 SMA acting as immediate support for the SOL price.
The Relative Strength Index (RSI) remains above the 50 midline level, signalling a potential rebound that could raise the RSI to overbought region 70.
The Solana Price Prediction
The presence of a bullish pennant has allowed the bulls to regroup for a bull rally to recuperate their losses and propel prices towards projected highs in 2024, targeting around $150.
However, if the bears sustain their drive, the price could approach the $87 threshold (marked support 3).
As traders await favorable entry points for SOL, they may want to explore the launchpad XYZ token. It unveils the secrets of web3 crypto trading and shows how to find the next 30X crypto.
Launchpad XYZ Presale Nears $3M Goal
The Launchpad XYZ presale has less than five days left as investors look forward to its launch on January 24.
The presale has already secured over $2.6 million in funding as the project enters the final fundraising period. It’s racing towards its target of $3 million with its run rate surging 3,000% in the past few weeks, suggesting that investors interested in the project have little time to lose.
You still have the opportunity to buy the LPX tokens at a discounted price of $0.0445 per token. After the launch, the token claim will follow on January 29, with immediate listings on decentralized exchanges (DEX).
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— Launchpad.xyz (@launchpadlpx) January 17, 2024
Traders Report Profits Of Up To 30x ROI
Traders using the trading signals provided by Launchpad XYZ are enjoying remarkable returns, with some achieving impressive profits of up to 30x ROI from its free call signals.
Take user VANI on the Launchpad XYZ Discord. VANI observed traders consistently earning substantial monthly profits.
VANI has been a member of Launchpad XYZ since May. He says that every month, the signals shared within the group consistently maintain a high standard.
The alpha call group on Telegram is free for the remaining days of the presale. It offers a preview of what the complete product will provide its users.
🌐 Explore the #LaunchpadXYZ Terminal: Your ultimate trading companion.
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— Launchpad.xyz (@launchpadlpx) January 16, 2024
A Chance To Earn Passive Income, Join The P2E Games
The Launchpad platform also offers a play-to-earn feature where you can play games and generate passive income. All you will need is to hold a minimum of 10,000 LPX tokens. You can also benefit from reduced trading fees on Launchpad DEX.
🌟 On the hunt for the next big #Crypto opportunity? With #LaunchpadXYZ, unearth trades with the potential to 10x.
Dive into a sea of opportunities and find your next big win. 📈#Presale #Blockchain #Web3 #Alts pic.twitter.com/KEgSwizCPK
— Launchpad.xyz (@launchpadlpx) January 12, 2024
Expert analyst and YouTuber Alessandro De Crypto, with over 12K subscribers, explains the process of buying and using the tokens to access benefits and rewards.
To buy the LPX token, visit the official website and connect your digital wallet to swap your ETH, USDT, or BNB for LPX tokens.
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