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The Solana price surged more than 14% over the past week despite a 1% fall in the last 24 hours to trade at $179.51 as of 11:45 p.m. EST
This positive movement in the last 7 days has pushed the crypto’s monthly performance deeper into the green zone. As a result, the SOL price is up over 33% for the past month.
The Solana Price Enters A Temporary Consolidation
4-hour chart for SOL/USD (Source: GeckoTerminal)
The Solana price has entered a consolidation phase between $172.15 and $183.29. This short-term period of sideways trading might be a precursor to a big move.
If bulls identify the altcoin’s current price as a buy opportunity, it could lead to the crypto breaking through the $183.29 barrier. Closing a 4-hour candle above this threshold might then give the Solana price the foundation needed to keep climbing in the following 24 hours. SOL could subsequently rise to as high as $194.43.
On the other hand, sellers deciding to offload their holdings in the crypto while the Solana price consolidates might invalidate the bullish thesis. In this alternative scenario, the crypto could be at risk of losing the $172.15 support.
Continued sell pressure should SOL break below this technical safety net might then lead to it falling to $159.40 in the short term.
Technicals Warn The Solana Price Might Pull Back
Technical indicators on SOL’s 4-hour chart warn the crypto’s price might drop in the next 24 hours. More specifically, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators suggest the Solana price could test the $172.15 support soon.
Throughout the past 24 hours, RSI readings have been declining. Although the current RSI value is still bullishly above the 50 benchmark, the negative slope of the RSI line warns that this might not be the case for long.
Meanwhile, the MACD line recently crossed below the MACD Signal line to trigger a major bearish technical flag. Traders usually see this technical event as an indication that a crypto has entered a short term negative trend. With the MACD line breaking away below the MACD Signal line, it seems SOL’s bearish momentum is intensifying as well.
While traders wait to see what the Solana price will do next, they are are rushing to buy WienerAI (WAI) before its presale ends in just 8 days.
A Trader’s Best Friend
WienerAI (WAI) is one of the latest dog-themed cryptos that is looking to make its mark in the burgeoning meme coin space. With sophisticated AI technology, the project hopes to introduce a loyal and intelligent companion to crypto traders and investors.
Trained to analyze the volatile crypto markets, WienerAI is able to continuously take in heaps of information and uncover hidden insights and profit-making opportunities.
Users will no longer have to analyse countless charts to find the next trade opportunity, and can instead focus on portfolio allocation and risk mitigation for each position.
What’s more, WienerAI also facilitates the quick and efficient execution of trades by offering a seamless token swap solution and MEV protection.
Together, all of the project’s tools will ensure that traders can find and quickly find and pounce on every opportunity that presents itself in the market without having to worry about being front-run by MEV bots.
WienerAI’s features have caught the attention of Crypto Gains, a YouTube channel with 135,000 subscribers. In a recent video, an analyst from the channel told viewers to act quickly and secure a stake in WAI before its ICO ends.
Last Chance For Investors To Acquire WAI At Presale Prices
With just over 8 days left, time is running out for investors to purchase WAI during its ICO. More than $7 million has already been raised during this stage, which could in part also be due to the 144% APY on offer to ICO buyers who stake their tokens.
Walking into the new week like a true Wiener 🌭 pic.twitter.com/QrKctKTFhL
— WienerAI (@WienerDogAI) July 22, 2024
To get in on these high staking rewards, investors can buy WAI using the simple buy widget embedded on WienerAI’s official website.
Selling for $0.00073, WAI can be bought using either ETH, USDT, BNB or bank card. Once purchased, the tokens will then need to be locked via the staking page on the website to unlock the 144% APY.
Purchase and stake WAI here before its presale ends.
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