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The Solana price has plunged 7% in the last 24 hours to trade at $95.78 as of 6:27 a.m. EST on trading volume that rose 5.3% to $3.8 billion
In the past, Solana has shown resilience and bounced back from dips. For example, in late 2023, it dipped below $8, but by early 2024, it had surpassed $100. Can we see another bull rally?
Solana Price On An Uptrend As It Breaks Above The Bullish Pennant
The Solana price remained in a bullish zone above the $80 and $82 support levels. However, the bears have exerted pressure on the price, with the SOL price losing its $100 support and settling on the upper boundary of the pennant.
The bulls were active around the $92 zone, with a base formed, allowing the price to soar slightly to $95.78.
Solana is currently trading slightly above the 50-day simple moving average (SMA), confirming the bullish sentiment. If this bullish momentum is sustained, it will be able to overcome the 200-day SMA snag.
The Relative Strength Index (RSI) rebounded from 36 to 44, indicating intense buying pressure. An increase in momentum could see the RSI push to the 70-overbought region.
Solana Price Prediction
The Solana price bulls are anticipating higher targets around key resistance levels at $126 as the bullish pennant adds to their positive outlook.
However, in a reverse scenario, if the bears exert more pressure, the price may approach the $68 threshold if a sustained bearish trend continues.
As Solana bulls anticipate a rebound, investors looking for significant returns are turning to Meme Kombat, as analysts say this GameFi project is poised to explode post-launch.
Meme Kombat Presale Raises $7.8 Million, Closing In On Its $8 Million Target
The Meme Kombat (MK) presale has garnered $7.8 million in early funding, closing in on its $8 million target. Once the target is reached, the team plans a $25,000 giveaway, which you can easily participate in by acquiring MK tokens at a discounted price of $0.279.
We have successfully conquered the $7.8 million mark in the $MK presale⚔️
Congrats everyone! pic.twitter.com/NG0lZmNUZ9
— Meme Kombat (@Meme_Kombat) January 31, 2024
The price will remain at $0.279 per token until the team has acquired the hard cap target of $10 million.
Join Meme Kombat, Stake, And Get Rewarded
Meme Kombat is a project that brings a playful approach, infusing excitement into the crypto space through the blending of meme culture and tokenized battles.
In the virtual battle arena, iconic meme figures will clash in dynamic AI-powered duels.
You can participate in these battles by using your MK tokens to wager on these digital clashes, with the opportunity to be rewarded if your predictions are right.
The Meme Kombat team also envisions the timely completion of Meme Kombat NFTs. The NFTs will bring utility to MK Season 2, with a unique fusion of art and functionality.
Are you hyped for the #MemeKombat NFTs? ⚔️
We're working to launch them and get them into your hands soon! pic.twitter.com/aPW8S7ZHTg
— Meme Kombat (@Meme_Kombat) January 31, 2024
You also have the opportunity to stake your acquired MK tokens and earn an impressive annual percentage yield (APY) of 119%. Over 33 million MK tokens have already been staked, with over 7 million rewards paid out in $MK.
YouTube crypto analyst Jacob Bury that MK has the potential to explode post-launch.
To join the presale, visit the official Meme Kombat website, connect your Web 3 wallet, and exchange your ETH, USDT, or BNB for MK tokens.
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