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The Solana price has climbed 2.9% in the last 24 hours to trade at $91.79 as of 6:29 a.m. EST on trading volume that dropped 5.7% to $1.9 billion.
The upswing comes as BitMEX co-founder Arthur Hayes expresses his intention to “load up” on Solana (SOL).
This decision is prompted by his prediction of a mini-financial crisis and increased inflation, factors that he believes could lead to a potential drop in the price of Bitcoin to as low as $30,000.
Hayes said he’ll start loading up on SOL and Dogwifhat (WIF) once Bitcoin drops below $35,000.
The Solana Price Bulls Poised To Break Above The Bullish Pennant
Solana’s recent journey in the market has been marked by a slow and steady upward trend, successfully breaking through the resistance barrier at $126.10 after consolidation.
However, this positive momentum was interrupted by a retracement, forming a bullish pennant, which signals a potential continuation of the upward trend.
The current downturn allows bulls to regroup, aiming for the $83 support level, which aligns with the 50-day Simple Moving Average (SMA).
Solana’s present price position is below the 50-day and 200-day SMAs, with an SMA cross at $97 and the 50 SMA acting as immediate resistance.
The Relative Strength Index (RSI) rebounded from 30 to 58, indicating intense buying pressure for the SOL price. An increase in momentum could push the RSI to the overbought region (above 70).
Solana Price Prediction: Bulls Anticipate A Break Above The Pennant
The presence of the bullish pennant adds to the positive outlook, with projections targeting highs around $150 this quarter. However, the price may approach the $68 threshold if a sustained bearish trend continues.
As Solana buyers wait for clearer directional signs, investors hungry for significant returns are quickly buying a new green AI coin called eTukTuk on BSC.
New Binance Smart Chain Coin Raises $564,000 In Presale – Best Altcoin To Buy Now?
Currently in its presale phase, eTukTuk has successfully raised over $564,000 and is rattling towards its $680,000 soft cap.
eTukTuk is an innovative project that aims to revolutionize the transportation industry by introducing electric TukTuks and sustainable charging infrastructure in developing countries.
1/ Ready for a game-changer?
Let's talk about how shifting to renewable energy isn't just crucial for our planet, but it might just pay for itself within six years. 🔄🧵 pic.twitter.com/TZXK8dse5M
— eTukTuk (@eTukTukio) October 6, 2023
eTukTuk’s core mission is to tackle carbon emissions, improve health, and foster financial inclusivity. It operates on the Binance Smart Chain, employing a decentralized sharing economy model for scalability, security, and efficiency. At its core, the project focuses on eco-friendly electric vehicle charging infrastructure and affordable electric TukTuks (eTukTuks).
Happy New Year from eTukTuk! 🎉
As we usher in 2024, let's ride into a year of green journeys, sustainable choices, and impactful collaborations.
Together, let's drive change and make it a year of sustainable mobility! 🚗💚#NewYear2024 pic.twitter.com/IfP0xdGi05
— eTukTuk (@eTukTukio) January 1, 2024
By offering a cleaner, healthier alternative to traditional internal combustion engine (ICE) TukTuks, the project has positioned itself as a leader in the electric vehicle charging infrastructure sector.
Switching from the old, noisy, and polluting ICE tuktuks to the sleek, quiet, and eco-friendly eTukTuk – because progress is not just about moving, it's about moving forward responsibly 🌿🚗#ElectricVehicles #Memes pic.twitter.com/BWkoU3T09D
— eTukTuk (@eTukTukio) January 7, 2024
Stake, Play and Earn Passive Income
Additionally, eTukTuk is offering incentives for its community. You can buy and stake your $TUK tokens to receive an annual percentage yield of 374%.
The more you stake, the higher your rewards.
The project will also launch a play-to-earn (P2E) game called Crazy Taxi. This game will attract new investors as players navigate the chaotic streets of Pakistan, ferrying passengers to various locations. Players earn $TUK tokens for each completed mission, leveling up and unlocking new global cities.
Jacob Bury, a crypto analyst on YouTube, says projects like these are the future of crypto. He believes $YUK has 10X potential on listing.
$TUK tokens are available at a discounted price of only $0.026 per token. The rate will increase in four days so buying now is optimal.
You can buy $TUK tokens today by visiting the official eTukTuk website. Swap BNB or USDT for $TUK tokens or buy directly using your bank card.
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