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The Solana price jumped 3% in the last 24 hours to trade at $190.01 as of 03:03 a.m. EST on trading volume that rose 13% to $4.5 billion.
The SOL price surged even as most coins in the cryptocurrency space fell. This comes as the network registered over 1.4 million active wallets in the second quarter, compared to 500,000 a year earlier.
Q1 2024: 500,000 active wallets on @solana
Q2 2024: 1,400,000 active wallets on @solanaHow many active wallets will we see in Q3? https://t.co/7q6MU0reAb
— SolanaFM (@solanafm) April 2, 2024
Solana Price Surges Above the Ascending Triangle Pattern
Solana has been on an upward trend since the beginning of February, with a markup phase recorded in March to record a high last seen in 2021 at $211.49. The bears exerted some pressure on this level, driving the price down to the support level of $168.43.
The price has since been at a consolidation level in the $189 range, aiming to break out of the ascending triangle pattern.
The Solana price is trading well above the 200-day Simple Moving Average (SMA), which is a confirmation of the bullish trend to the upside.
Suppose the SOL bulls are able to sustain the bullish momentum. In that case, the price will eventually overcome the 50-day SMA, setting the Solana price for further movement higher above the triangle’s upper boundary.
Additionally, the Relative Strength Index (RSI) on the 4-hour chart is rebounding from the 30-oversold region towards the overbought region, currently at the 50-midline level. Sustained bullish momentum could push the RSI over the 70-overbought region, indicating intense buying pressure.
Solana Price Prediction
The Solana price analysis shows a bullish bias, with SOL price bulls aiming to drive the price above the ascending triangle pattern, with the target set at $240. SOL traders are aiming to reclaim the token’s all-time high (ATH) of $259, last recorded in 2021.
The SOL investors are also aiming to take advantage of the movement of the RSI and the golden cross at $97 to surge the price even higher.
However, if the bears take control of the price at this level, SOL could retrace back to the $167 support level, which coincides with the 200-day SMA.
As the Solana bulls prepare for another rally back to $200, many investors are diversifying their portfolios with meme coins like Smog, a token set to take advantage of the Solana meme coin excitement.
Smog Secures Its First CEX Listing – Best Meme Coin To Buy Now
Smog (SMOG) continues to attract attention in the crypto community, having amassed over 110,000 holders ahead of its airdrop worth a gigantic $1 million. Season 1 of the airdrop ends today, which gives you a final chance to join in the ‘greatest airdrop in history.’
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
The Smog development team has already allocated 35% of its 1.4 billion token supply for the airdrop. Users can still fulfill daily tasks on Zealy to earn rewards before the season ends. The second season of the airdrop will mainly be dependent on on-chain trading.
The token has already secured its first listing on MEXC, with deposits on the centralized exchange (CEX) opening on April 4 at 5:00 a.m. EST. The listing could pave the way for another CEX listing, possibly pushing the token into a wider market.
.@SMOGToken: Buy and hold $SMOG tokens to gain access to the greatest airdrop Solana has ever seen, is coming to #MEXCKickstarter 🚀
🗳Vote with $MX to share massive airdrops
📈 $SMOG/USDT Trading: 2024-04-04 09:00 (UTC)Details: https://t.co/2hnzMA3fB4 pic.twitter.com/UYKQrN9L4T
— MEXC (@MEXC_Official) April 3, 2024
Buy $SMOG: An Opportunity For 100X Gains
Buyers on the platform can earn passively with Smog simply by staking $SMOG for a 42% annual percentage yield.
According to 99Bitcoins, a prominent crypto channel on YouTube with 707k subscribers, SMOG token has the potential to surge 100X on launch.
Visit the official website to buy smog here, where you can get a 10% discount while the offer lasts. You need a compatible wallet to swap ETH or BNB for SMOG tokens. Alternatively, you can use your bank card.
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