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The price of Solana has risen 2.9% in the last 24 hours trading at $91.79 As of 6:29 a.m. EST, trading volume fell 5.7% to $1.9 billion.
The rally comes as BitMEX co-founder Arthur Hayes expresses his intention to “load” Solana (SOL).
This decision is motivated by his prediction of a mini financial crisis and a rise in inflation, factors that he believes could lead to a possible drop in the price of bitcoin to as low as $30,000.
Hayes said he will start acquiring SOL and Dogwifhat (WIF) once bitcoin falls below $35,000.
Solana Price Bulls About to Top Bullish Pennant
Solana's recent journey in the market has been marked by a slow and steady upward trend, successfully breaking the resistance barrier of $126.10 after consolidation.
However, this positive momentum was interrupted by a pullback, forming a bullish pennant, indicating a possible continuation of the uptrend.
The current slowdown allows the bulls to regroup, targeting the $83 support level, which aligns with the 50-day SMA.
Solana's current price position is below the 50-day and 200-day SMA, with a crossover of the SMA at $97 and the 50-SMA acting as immediate resistance.
The Relative Strength Index (RSI) recovered from 30 to 58, indicating intense buying pressure on SOL price. An increase in momentum could push the RSI into the overbought region (above 70).
Solana Price Prediction: Bulls Anticipate Break Above Pennant
The presence of the bullish pennant adds to the positive outlook, with projections pointing to highs of around $150 this quarter. However, the price may approach the $68 threshold if a sustained downtrend continues.
While Solana buyers wait for clearer directional signals, investors hungry for significant returns are quickly buying a new ai green coin called eTukTuk on BSC.
New Binance Smart Chain Coin Raises $564,000 in Pre-Sale – Best Altcoin to Buy Now?
Currently in its pre-sale phase, eTukTuk has successfully raised over $564,000 and is approaching its soft limit of $680,000.
eTukTuk is an innovative project that aims to revolutionize the transportation industry by introducing electric TukTuks and sustainable charging infrastructure in developing countries.
1/ Ready to change the rules of the game?
Let's talk about how the switch to renewable energy is not only crucial for our planet, but could pay for itself in six years. pic.twitter.com/TZXK8dse5M
— eTukTuk (@eTukTukio) October 6, 2023
eTukTuk's core mission is to address carbon emissions, improve health and foster financial inclusion. It operates on Binance Smart Chain, employing a decentralized sharing economy model to achieve scalability, security and efficiency. At its core, the project focuses on green electric vehicle charging infrastructure and affordable electric TukTuks (eTukTuks).
Happy New Year from eTukTuk!
As we usher in 2024, let's usher in a year of green travel, sustainable choices, and impactful collaborations.
Together, let's drive change and make this a year of sustainable mobility! #NewYear2024 pic.twitter.com/IfP0xdGi05
— eTukTuk (@eTukTukio) January 1, 2024
By offering a cleaner and healthier alternative to traditional internal combustion engine (ICE) TukTuks, the project has positioned itself as a leader in the electric vehicle charging infrastructure sector.
Go from the old, noisy and polluting ICE tuktuks to the elegant, quiet and ecological eTukTuk, because progress is not just about moving, but about moving forward responsibly #Electric vehicles #Memes pic.twitter.com/BWkoU3T09D
— eTukTuk (@eTukTukio) January 7, 2024
Bet, play and earn passive income
Additionally, eTukTuk offers incentives for its community. Can buy and stake your $TUK tokens to receive an annual percentage return of 374%.
The more you bet, the greater your rewards will be.
The project will also launch a play-to-earn (P2E) game called Crazy Taxi. This game will attract new investors as players navigate the chaotic streets of Pakistan, transporting passengers to various locations. Players earn $TUK tokens for each mission completed, leveling up and unlocking new global cities.
Jacob Bury, a cryptocurrency analyst at YouTube, says projects like these are the future of cryptocurrencies. He believes $YUK has a 10x potential in pricing.
$TUK tokens are available in a discounted price of only $0.026 per token. The rate will increase in four days, so buying now is optimal.
You can buy $TUK tokens today by visiting the eTukTuk official website. Exchange BNB or USDT for $TUK tokens or buy directly with your bank card.
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