The Solana price explosive move since late December has seen investors back into the project in the wake of the FTX explosion. The recovery began with a final drop to $8.05, riding on the momentum created by BONK, the first meme token on the Solana blockchain.
The demand for SOL grew rapidly with the MemCoin hype, leaving a positive ripple effect on Solana’s price, which is up 87% in just 30 days. However, the smart contracts token halted the uptrend from Friday at $24.00 with the bulls seeking refuge above $20.00.
Why does the Solana price rally need to hit the $30 tag soon?
Solana price has been holding above $20.00 for five days now, as the bulls plan for the next breakout towards $30.00 and $40.00, respectively. While huge trading volumes supported the explosive price action, the Money Flow Index (MFI) shows that more money is leaving than is flowing into the Solana markets.
The MFI is a momentum indicator like the Relative Strength Index (RSI), but it uses volume instead of price. From the 12-hour time frame chart, we see the MFI slipping below a bullish rising trend line. This suggests that the overhead pressure could push Solana price down, leading to a retracement below $20.00, unless the bulls exert pressure to resume the uptrend as soon as possible.
that’s why, buyers Those sidelined by the rally to $24.00 may consider a pullback to provide Solana price with enough momentum to push above that resistance.
The Moving Average Convergence Divergence (MACD) indicator is very close to confirming a sell signal on the same time frame. Note the MACD (line in blue) crossing below the signal line (in red). Furthermore, the decline may intensify as the MACD falls below the average line, and possibly into the negative territory.
Solana Price Appraises Bullish Outlook
Solana price traded above a strong support area between $20.00 and $22.00. Furthermore, losses below this area could be arrested by the next buyer rush at $19.50, as highlighted by the 200-day EMA (in purple).
For the first time since August 2021, the 50-day EMA (in red) has crossed above the 100-day EMA. While this is not a typical death cross pattern, which occurs when the 50-day EMA crosses above the 100-day EMA, it maintains a bullish outlook and gives Solana price a chance to close the $30.00 gap. confirms the possibility. When the bulls entered the 2021 bull run market, SOL jumped a whopping 584%.
Solana price remains bullish on the daily time frame with the 100-day EMA (in blue) at $19.51 and the 50-day EMA (in red) at $16.51. Moreover, the MACD is still turning upside down, supporting the buy signal sent at the beginning of the year.
A break above the declining trend line resistance is needed immediately, otherwise Solana price could ease into a retracement ahead of the weekend. With confirmation of a negative fund flow into MFI Solana Markets, a trend correction could be the most likely outcome.
That said, almost impossible never means impossible in crypto. Hence, it would be prudent for investors to keenly watch the performance of SOL to ascertain the price direction in the coming few days.
Consider Altcoins for Quicker Returns
Investors are waiting to see if SOL can close the gap to $30.00 by breaking through the resistance at $24.00. However, investors can take advantage of far more affordable altcoins in their presales with the possibility of locking in fast profits till they get listed on the exchanges. These tokens provide best long term Early adopter opportunity for investors.
Meta Masters Guild (MEMAG)
Investors interested in Play-to-Earn (P2E) crypto gaming platforms may turn their attention to meta masters guild, the first mobile-focused web3 gaming guild. In this new ecosystem, users are rewarded for playing the games they enjoy in addition to a wider range of contributions to generate more revenue.
The Meta Masters Guild (MMG) model is simple – the team calls it play-and-earn because almost all barriers to entry have been eliminated. Rewards in the MMG ecosystem are earned in currency referred to as Gems. After receiving gems, users can convert to MEMAG and stake the tokens for more rewards. In addition, Gems can be used to purchase NFTs and other in-game items.
The Meta Masters Guild is expected to launch with three games going live, including the high-profile Meta Kart Racers, Raid NFT and Meta Masters World. MMG has a total of 1 billion MEMAG tokens. Investors are buying MEMAG through an ongoing pre-sale that has raised over $552k.
Now go to the Meta Masters Guild.
FightOut (FGHT): Introducing the Future of Move-to-Earn
FightOut presale is selling fast after the team announced another CEX listing. Investors buying into this new project believe it has the potential to shape the fitness industry. FightOut, on the other hand, is tapping Web3 solutions to make the fitness lifestyle affordable to everyone.
Unlike existing move-to-earn crypto ecosystems like STEPN, users on FightOut will not need expensive NFTs. Instead, FightOut Web2 uses ingenious technical solutions with digital avatars to ease viewers into the metaverse.
Meanwhile, investors are buying up tokens in the pre-sale as they take advantage of a 50% discount, which is valid until $5 million is raised. FightOut’s pre-sale has raised over $3.01 million ahead of its first confirmed exchange listing.
Calvaria (RIA)
Calvaria is a cryptocurrency project seeking to lead the way in the fight to close the great divide between the “real world” and cryptocurrency. Through a play-to-earn battle card game, the project hopes to accelerate the adoption of cryptocurrencies.
The team is creating two game versions in an effort to stand out in the Web2 gaming industry. App stores such as the Apple Store and Google Play will offer a game version of the game.
The play-to-earn version (powered by blockchain functions) will accept all players without the many barriers to entry that often scare away non-crypto users.
The Calvaria presale is almost at the finish line, with only 8% of the tokens to be received. $2.83 million has been raised, well ahead of RIA’s first CEX listing.
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