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The Solana price has climbed 1.5% in the last 24 hours to trade at $87.79 as of 4:29 a.m. EST on trading volume that plunged 32% to $2 billion.
Despite the surge, Crypto analysts Bluntz is among several experts on X who see the SOL price plunging to as low as $70.
$SOL also looking like all these weeks of sideways was probably some kind of B wave triangle.
ill be interested again in the low $70s pic.twitter.com/0n3rI6rUaO
— Bluntz (@Bluntz_Capital) January 22, 2024
The analyst also says that SOL has recently followed a distinct trajectory called the “B wave triangle” occurring within the correction phase, typically characterized by a cryptocurrency’s value forming a sequence of lower highs and higher lows.
This pattern indicates a period of consolidation before a significant movement in either direction.
Bluntz foresees a potential decrease in SOL as an opportunity to “buy the dip,” expressing that aggressive buying, or “max bidding,” will likely commence if the price retraces to the “low 70s.”
The Solana Price Bulls Poised To Break Above The Bullish Pennant
The Solana price has been rising gradually on an upward trend after a prolonged period of consolidation that gave the bulls a platform to send the price north, reaching the resistance level at $126.10.
However, the bullish momentum was cut short, allowing the bears to exert downward pressure in a subsequent retracement, forming a bullish pennant, which signifies a continuation of the bullish trend for the Solana price.
This downturn allows bulls to regroup and gear up for another upward push at the $83 support level coinciding with the 50-day simple moving average (SMA).
Solana Price Prediction
Solana’s price remains above the 50-day and 200-day Simple Moving Averages (SMA), with the SMAs indicating a cross at $22 and the 50 SMA acting as immediate support for the SOL price.
The Relative Strength Index (RSI) indicates a rebound from 38 to 47 near the 50 midline level, signalling a potential rise in the RSI to overbought region 70.
The presence of a bullish pennant has allowed the bulls to regroup for a bull rally to recuperate their losses and propel prices towards projected highs in 2024, targeting around $150.
However, if the bears sustain their drive, the price could approach the $68 threshold.
In the midst of the ongoing Solana price decline, the eTukTuk presale is making a significant impact within the crypto space. Experts are increasingly advocating for new ICOs, such as eTukTuk, viewing them as the future of a sustainable world and recognizing their huge potential for scalability.
New Binance Smart Chain Coin Raises $552K In Presale – Best Altcoin To Buy Now?
The eTuktuk presale has already raised $552,073 out of the $680K soft cap target, with only about five days remaining before the price increases.
Currently, you can purchase $TUK tokens at an early-bird rate of just $0.026. This offer is available right now, ahead of the official launch on major exchanges at a price of $0.04.
eTuktuk represents the eco-friendly future of transportation, incorporates AI technology, and offers an opportunity for immediate investment and earnings. It utilizes blockchain technology to secure payments and transaction settlements.
1/ eTukTuk Times is back! 📰🌍
Our weekly round-up of two things we love: #EVs and a #sustainable future 🚀
Explore breakthrough technologies, global initiatives, and the latest developments shaping the future of sustainable transportation and combating climate change.
— eTukTuk (@eTukTukio) January 17, 2024
$TUK has a total token supply of 2 billion, with the hard cap set at $5.69 million. 21.5% was allocated through the staking mechanism. The decreased circulating supply of the staked tokens can contribute to an upward price movement fueled by increased demand.
Buy And Stake $TUK, Play P2E Game, Earn Passive Income
Buy and instantly stake your acquired $TUK tokens and get a guaranteed annual pay yield ( APY) of 383%. Early stakers benefit from higher returns as APY adjusts with participation.
Over 13 million TUK tokens are already staked, with the current reward rate at 4.75 per BSC block. Rewards will be distributed over three years based on your portion of the staking pool and APY returns.
You can now earn passive income, upgrade your eTuktuk, unlock new cities, and discover additional features by driving faster in the play-to-earn game centred around the iconic eTuktuk vehicle.
In this thrilling game, you’ll take the wheel of the Crazy Taxi, driving through the streets of Sri Lanka. Your mission? To swiftly pick up and deliver passengers in dire need of transportation.
The faster you complete your trips, the more $TUK tokens you collect.
The project has caught the attention of Cilinix Crypto, a crypto analyst boasting a substantial following of over 45,000 YouTube subscribers. He recently showcased eTuktuk in one of his videos, providing valuable insights into how to purchase and leverage its staking and play-to-earn (P2E) features for maximum benefits.
To buy $TUK tokens and join the presale, visit the official eTuktuk website, connect your digital wallet, and swap your BNB or USDT for $TUK tokens. You can also buy directly using your bank card.
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