The Solana price surged over 7% in the last 24 hours to trade at $138.62 as of 7:27 a.m. EST.
This uptick in the SOL price comes after Solana Mobile announced at Token2049 in Singapore that it will ship its second crypto phone in 2025, called Seeker.
Each device will also be able to act as a crypto wallet, which will tie into the device’s partitioned Seed Vault key storage. As such, users will be able to execute crypto transactions much more seamlessly on Seeker than they could on its predecessor, Saga, said Emmet Hollyer, who runs Solana Labs’ phone making project.
The Solana Price Flips A Major Resistance Level
4-hour chart for SOL/USD (Source: GeckoTerminal)
The Solana price escaped a short-term bearish channel in the last 24 hours, and was also able to flip the resistance level at $137.40 into support. Should the altcoin maintain a position above this mark for the next 12 hours, then SOL might rise to the next major mark at $147.67 in the following 48 hours.
However, the Solana price closing a 4-hour candle below $137.40 within the next 12 hours could invalidate the bullish thesis. Traders might begin to dump their holdings in the crypto in this alternative scenario, which could lead to SOL testing the $130 support level.
Falling below $130 might then result in the Solana price falling back into the aforementioned descending channel and potentially testing the subsequent support level at $120.
Technicals Suggest The Solana Price Has Reached A Peak
Technical indicators on SOL’s 4-hour chart warn that the Solana price is reaching a peak, and could soon undergo a correction. More specifically, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are starting to show bearish signs.
In the last couple of hours, the RSI line has started to level off at around 63. The current reading above 50 suggests that SOL is overbought. Since the start of the month, the RSI and the Solana price has fallen every time the indicator has reached this point. If history repeats, traders could soon initiate a sell off.
There is also the MACD line that has leveled off above the MACD Signal line, suggesting that SOL’s positive trend has reached a top as well. If the MACD line starts to fall towards the MACD Signal line, it could put the Solana price at risk of entering a new negative trend.
While technical indicators warn that the Solana Price might be reaching a peak, investors are flocking to a new meme coin called Crypto All-Stars (STARS), which is offering an eye popping 1,072% Annual Percentage Yield (APY) for staking STARS tokens.
A Meme Coin Staking Solution Like No Other
Crypto All-Stars (STARS) will bring an innovative staking solution to the booming meme coin sector that allows investors to stake multiple meme coins on a single platform.
Big name tokens including DOGE, SHIB, PEPE, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO are already supported, with more staking options scheduled for the coming weeks.
All staking rewards are paid in STARS, which can also be locked up for passive rewards.
Anyone who stakes STARS itself right now will gain access to that incredible 1,072% annual return. This essentially opens up the opportunity for investors to earn compounded rewards by staking any of the supported tokens and then re-staking the earned STARS tokens.
Over 687 million STARS tokens have already been staked, as savvy investors take advantage of the high rewards on offer.
Investors Rush To Buy STARS At ICO Prices
Crypto All-Stars has raised over $1.4 million through its ongoing presale so far as investors bet big on the project’s future. A whale also recently joined the ICO, and purchased $50K worth of STARS at the start of the month.
The unified staking solution on offer with Crypto All-Stars and the project’s meme coin appeal has excited experts and analysts, including renowned YouTuber Jacob Crypto Bury. In a video to his 42K subscribers, he made a bold prediction that STARS could 10x after launch.
There is still time left for investors to get in on the project early. Selling for $0.0014535, STARS can be bought using either ETH, USDT, BNB, FLOKI, SHIB, PEPE, DOGE or bank card.
Once purchased, the 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 want to hurry, because the meme coin’s price is set to increase in less than 3 days, and again in subsequent stages of its presale.
Purchase and stake STARS here for the 1,072% APY before the next price increase.
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