In the last 24 hours the price of Solana has fallen by 1% to $21.03. Its current levels represent a 26% gain in one week and a 71% gain over the past 30 days, with the layer-a cryptocurrency recouping some of the heavy losses it suffered over the past year.
And with SOL benefiting from the launch of Solana-based meme token BONK, it is likely that the altcoin recovery will continue as Solana attracts more traffic. However, because this process of recovery can take some time, traders are better off turning to pre-sale tokens for short-term gains, with move-to-earnings Crypto Fight Out being the most promising of them.
Here’s Why Solana’s Price Could Soar Up to $50
SOL’s indicators continue to show strong momentum, with its Relative Strength Index (purple) remaining near 70 despite the decline a few days ago. At the same time, its 30-day moving average (red) is trending towards its 200-day average (blue), suggesting that SOL may be in the midst of a breakout to new long-term lows.
SOL is arguably due for a huge rally, given that it was sold off heavily over the past few months. This overselling was partly the product of a system outage that undermined confidence in Solana, and also partly the result of the collapse of FTX, the now-defunct exchange that has been a major supporter of the layer-one blockchain.
However, with Solana releases multiple updates in the second half of 2022, Now it seems that it is on the way to recovery. This is highlighted by the fact that the price of SOL has increased by 70% in the last month, making it one of the best performing major coins during this period.
As the tweet above suggests, Solana is one of the busiest development communities in the cryptocurrency ecosystem. Therefore, it is likely to keep growing, attracting and promoting more protocols and dapps Its total value is locked at levels seen a year ago.
It is because of this that it is reliable to predict big rallies for SOL towards the end of the year. It is down 92% from its all-time high of $259.96, a figure that suggests the medium-term target of $50 is more than feasible.
SOL was last at $50 in May last year. Given that the global economy continues to enjoy encouraging macroeconomic news (eg falling inflation), and SOL could return to this level by the middle of the year, assuming there are no other major declines in the crypto market.
Why Fight Out Can Be More Profitable To Earn Crypto
Of course, the downside to this is that SOL holders will have to wait for the macroeconomic picture to improve significantly before they can see significant gains. As such, traders looking for short-term gains may prefer to look at alternatives, with the token pre-sale being probably the best bet in what (arguably) remains a bear market.
For example, Lucky Block (LBLOCK) saw a high of 6,000% in February, compared to the selling price of $0.00015. To take another example, Tamadoge (TAMA) Soared 1,800% Compared to Its Pre-Sale Price in OctoberWhen it was listed on OKX.
While these two coins have apparently ended their pre-sales, there are still sales of various types taking place. One of the most promising, at least in terms of coin selling fundamentals, is Fight Out (FGHT), an ambitious move-by-earnings platform that combines real-life workouts with Web3.
Based on Ethereum, Fight Out aims to improve upon earlier M2E platforms such as STEPN. That is, it will track and reward a variety of workouts, including boxing, weightlifting and yoga, as well as offer a range of in-app and IRL courses at its branded gyms.
Its FGHT token sale — which will be used to pay for subscriptions and workouts with trainers — has already raised more than $3 million. At the moment, 1 FGHT is selling for $0.0166, although this price is set to increase in the next phase of sales.
The sale will end on March 31, with FGHT getting its first exchange listing from April 5. Investors can participate in the sale. its official website and connecting their Connect Wallet or MetaMask Wallet.
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