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Solana’s price jumped by over 14% in the last 24 hours to trade at $71.8 as of 5.20 a.m. EST as trading volume surged by 95%.
For several reasons, the project’s token has attracted buyers over the past several days.
One reason is the rising price of Bitcoin, which brought the oldest cryptocurrency to a resistance at $44 and helped turn the overall market bullish.
Fund management giant VanEck also recently revealed that it is bullish on Solana, expecting its chain to become one of the top 3 blockchains by market cap, TVL, and active users in 2024.
Another reason behind the surge might be that the airdrop season in the Solana ecosystem is coming. The JITO airdrop already made waves in the project’s ecosystem, but Kamino Finance and Celestia airdrops have yet to arrive, and the hype surrounding them is rising.
Apart from that, it is also worth saying that SOL was recently endorsed by Arthur Hayes, the founder of Bitmex, who expects the coin to hit the $100 mark soon.
Who is ready for a weekend alt szn green doji piss up? Can we send $SOL over $100? Let’s do it fam 🫡🫡🫡🫡🫡🫡
— Arthur Hayes (@CryptoHayes) December 5, 2023
Solana Price Prognosis Amid Bullish Predictions
Solana’s price has substantially increased in the last 24 hours, going up from $62.5 to $72.66. Right now, the resistance at $72 keeps the coin from progressing, and each time it approaches it or tries to cross it, its price gets rejected.
However, fundamental and technical signs indicate that the SOL price might soon breach this resistance and push further up.
As mentioned, the coin has attracted bullish predictions from some of the industry’s respected and trustworthy names, including Bitmex’s founder, who believes that SOL could hit $100.
The upcoming airdrops will offer free tokens to those who hold SOL, which is why it is likely that more users might try to obtain the coin before that happens.
Wide Bollinger bands also suggest that there is quite a strong demand for the token, which is a bullish sign, showing that buyers are willing to pay a higher price to obtain it.
However, it is worth noting that the project’s Relative Strength Index (RSI) score is approaching the oversold territory.
This suggests that SOL might recover slightly before it pushes further up again. Right now, there are two possibilities. The first is that SOL will soon reach its primary goal, $77 if the bulls manage to hold the market.
Alternatively, SOL could see a correction to the lower $60 range before bouncing back up, which might open up an opportunity for investors to buy the dip.
Either way, the market seems bullish enough to allow SOL to push beyond the current $72 resistance shortly.
Promising Alternative To Solana
While Solana stands to bring significant gains to its token holders, another project could outperform it over the next few months.
The project in question is TGCasino (TGC), an upcoming crypto casino that seeks to become the exclusive place for online anonymous gambling using digital currency.
The project is fully licensed and aims to offer several rewards, including staking rewards and 25% cash back on any losses gamblers experience if they use the project’s native TGC token.
As such, the project will offer both passive rewards for staking and active rewards for those who enjoy gambling.
Ever dreamt of being part of a casino? Where players can play the most popular games such as Wanted Dead or a Wild?
Soon you’ll be able to! $TGC holders get exclusive rewards and benefits from staking their tokens! pic.twitter.com/6wtRMM0hZS
— TG Casino (@TGCasino_) September 19, 2023
TG.Casino has also seen one of the most successful presales of this year, having already raised over $3.6 million as of the time of writing.
Currently, its token is selling for $0.18 per unit, but that price will rise in a little over three days so it’s best to buy sooner rather than later.
TGC is available in exchange for ETH and USDT for those interested in buying it.
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