Solana, also known as the “Ethereum killer”, is up 5.84% after a massive rally. This has resulted in a price increase of 25.67% in the past week. Solana’s price stands at $16.56 and is up 70% since the end of 2022.
The huge increase is due to two things: strong support from Ethereum founder Vitalik Buterin and the growth of the Solana blockchain since the launch of the BONK token.
Solana (SOL) Price Prediction and Technical Analysis
Currently, the Solana 20-day EMA is at $13.6650. This implies an upward trend in the short term. Meanwhile, the 50-day EMA and 100-day EMA have taken good positions, from $14.5185 and $19.1219, suggesting long-term stability.
Supply and demand of the Solana price have been the same for the past four days. This happens because the price is still waiting for consolidation of 20-day and 50-day EMAs. Immediate support for the cryptocurrency ranges between $14.58 to $15.11. Immediate resistance is roughly between $17.64 and $18.86, which may still coincide with the 100-day EMA.
The Relative Strength Index (RSI) is currently at 70.17, which means the cryptocurrency is trading above its true value, according to traders. The market will correct the price in the near future. Traders who may wish to invest in Solana should be aware of this risk and are advised to take a cautious approach. What this can further mean is setting limits to limit any losses or waiting for potential price declines before traders take a position.
Diversifying Your Crypto Portfolio: Other Options to Consider
So far into 2023, the crypto market is showing possible signs of recovery. If you are unsure about which crypto to buy, it is a good idea to look for altcoins in the presale. These prices are reduced until they are listed. Some promising cryptos that you can take with you are: MEMAG, FGHT and TARO.
The Meta Masters Guild (MEMAG) begins
Meta Masters Guild (MMG) is a budding gaming ecosystem and Web3 Guild with a connection to blockchain-based mobile gaming. The decentralized platform rewards users for their participation in the form of MEMAG crypto. Players can also own their own digital assets on the platform.
The MMG ecosystem is developed to entice players to invest their time and money in the game and thus reap rewards. The priorities for the project are: design of a fantastic gaming experience, sustainability and increased community involvement.
The company strives to create a transparent and fair ecosystem. The open economy of the game allows players to trade all their currencies and items with each other while using “Save” rewards from games as payment for money or digital assets. Meta Kart Racers is a racing game designed specifically for mobile devices. This will also be the first game to launch and be part of the ecosystem.
The pre-sale of the MEMAG token has already started and managed to catch the attention of investors. This is evident because the pre-sales are already very close to the $100,000 mark.
Visit the Meta Masters Guild now
Fight Out (FGHT)
Fight Out is a budding app and fitness network that motivates its members to start fitness. Rewards can be earned and members can connect with others within the Fight Out online community. The project aims to build communities in both a virtual and metaverse fitness world. Fight Out’s application will help users create customized fitness regimes, measure their progress and connect with others through challenges.
Users’ progression is reflected on non-fungible token-based avatars. As users reach their goals, their avatars level up as well. This allows members to compete against each other.
The first gym will open at the end of 2023. This futuristic Web3 location has a number of facilities such as fitness stations, study spaces, health bar and other co-working facilities. In addition, smart technology such as “mirrors” are available to users if they wish to view their personal fitness profiles and are open to feedback.
Fight Out also offers personalized training plans created by experienced health professionals. In addition, there are also analytical and tracking tools that monitor performance and progress. In addition, Fight Out also offers a platform where members can share inspiring stories with each other.
The innovative action plan to promote a healthy lifestyle is well thought out by Fight Out. The company has already raised nearly $2.9 million during the FGHT token presale. Investors can benefit from 50% bonus on FGHT tokens.
Visit Fight Out Now
Robot Era (TARO)
RobotEra, the new play-to-earn (P2E) gaming metaverse, launches later this year. Players can expect exciting quests as they help rebuild the planet Taro. The rebuilding of the planet can be done using easy tools and NFT robots. Even beginners can play this game and thus create their own robots and buildings.
RobotEra allows players to enjoy the endless possibilities of the metaverse world and use their creativity, especially when augmented reality (AR) and virtual reality (VR) are implemented.
RobotEra also has the potential to help players generate additional revenue through the development of AR/VR assets. The game allows players to participate in quests and contribute to the in-game economy to earn rewards. RobotEra’s pre-sales have so far raised $706,000 and are approaching $1 million.
Visit RobotEra now
Want to know more about crypto? We have handy crypto tips!