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The price of Solana jumped more than 7% in the past 24 hours to trade at $138.62 as of 7:27 a.m. EST.
The SOL price hike comes after Solana Mobile announced at Token2049 in Singapore that it would ship its second crypto phone in 2025, called Seeker.
Each device will also be able to act as a crypto wallet, which will be linked to the device’s Seed Vault partitioned key storage. As such, users will be able to execute crypto transactions much more smoothly on Seeker than on its predecessor, Sagasaid Emmet Hollyer, who leads Solana Labs’ phone-making project.
Solana Price Flips Major Resistance Level
4-hour chart for SOL/USD (Source: Terminal Gecko)
Solana price has broken out of a short-term bearish channel over the past 24 hours and has also managed to flip the resistance level at $137.40 into support. If the altcoin maintains a position above this mark for the next 12 hours, SOL could then reach the next major mark at $147.67 in the following 48 hours.
However, the Solana A 4-hour candle close below $137.40 in the next 12 hours could invalidate the bullish thesis. Traders could start dumping their cryptocurrency holdings in this alternative scenario, which could lead SOL to test the $130 support level.
A drop below $130 could then cause Solana price to drop into the aforementioned descending channel and potentially test the subsequent support level at $120.
Technical data suggests Solana price has peaked
Technical indicators on the 4-hour chart of SOL warn that Solana price is peaking and could soon undergo a correction. Specifically, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are starting to show bearish signs.
Over the past few hours, the RSI line has started to stabilize around 63. The current reading above 50 suggests that SOL is overbought. Since the beginning of the month, the RSI and Solana’s price have fallen every time the indicator has reached this point. If history repeats itself, traders could soon initiate a sell-off.
There is also the MACD line that has stabilized above the MACD signal line, suggesting that SOL’s positive trend has also reached a peak. If the MACD line starts to decline towards the MACD signal line, it could put Solana price in danger of entering a new negative trend.
As technical indicators warn that Solana’s price could peak, investors are flocking to a new meme coin called Crypto All-Stars (STARS), which offers a mind-blowing Annual Percentage Yield (APY) of 1,072% for staking STARS tokens.
A coin staking solution unlike any other
Crypto All-Stars (STARS) will bring an innovative staking solution to the booming meme coin industry that allows investors to stake multiple meme coins on a single platform.
Popular tokens including DOGE, SHIB, PEPE, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO are already supported, with more staking options planned for the coming weeks.
All staking rewards are paid in STARS, which can also be locked for passive rewards.
Anyone staking STARS right now will have access to this incredible 1,072% annual yield. This essentially opens up the opportunity for investors to earn compounded rewards by staking one of the supported tokens and then re-staking the earned STARS tokens.
Over 687 million STARS tokens have already been staked, with savvy investors taking advantage of the high rewards on offer.
Investors rush to buy STARS at ICO prices
Crypto All-Stars has already raised over $1.4 million through its ongoing presale, with investors betting big on the project’s future. A whale also recently joined the ICO, purchasing $50,000 worth of STARS earlier this month.
Crypto All-Stars’ unified staking solution and the project’s appeal to coins have excited pundits and analysts, including popular YouTuber Jacob Crypto Bury. In a video for his 42,000 subscribers, he made a bold prediction that STARS could grow 10x after its launch.
Investors still have time to get involved in the project. Priced at $0.0014535, STARS can be purchased using ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE, or a bank card.
Once purchased, STARS tokens can then be locked up via the staking page on the project’s website for investors to become eligible for the 1,072% APY.
Investors will have to hurry, as the price of the meme coin is expected to increase in less than 3 days, and again in the later stages of its presale.
Buy and stake STARS here for 1,072% APY before the next price increase.
Related articles:
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- Level 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof and Coinsult audited
- Staking Rewards – pepeunchained.com
- Over $10 Million Raised in ICO – Ending Soon
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