Solana’s native crypto SOL increased over 9.45%, rising from $127 to $139.
Solana has introduced its upcoming smartphone, the ‘Seeker,’ set to launch in 2025, featuring upgraded hardware.
Today, Solana’s native token, SOL, displayed a significant price increase of over 9.45%, climbing from a low of $127 to a high of $139. This rally comes amid an exciting announcement from Solana Mobile, a subsidiary of Solana Labs, regarding the upcoming launch of their second crypto-focused smartphone, the ‘Seeker.’
Solana Mobile unveils its second #crypto smartphone, "Solana Seeker," after surpassing 140K presales across 57 countries. #Solana's new phone, expected to ship by mid-2025—gained traction following #memecoin airdrops that briefly covered its cost. pic.twitter.com/5adX74qsX5
— TheNewsCrypto (@The_NewsCrypto) September 19, 2024
The new Solana-based mobile is set for release in 2025, with new upgrades in hardware, including an enhanced display, improved battery life, and better camera capabilities. The Seeker mobile has already grabbed considerable interest with over 140,000 presales across 57 countries.
As users increasingly look for ways to access and utilize their digital assets seamlessly, the introduction of hardware like the Seeker could play a crucial role in cryptocurrency adoption. Further, analysts suggest that the combination of a solid product launch and the growing acceptance of cryptocurrencies could lead to sustained growth for SOL in the coming months.
Current Market Overview and Technical Analysis of SOL
At the time of writing, SOL traded at $139.28, with a market cap of about $64.97 billion. Additionally, the daily trading volume has surged by over 63%, reaching $2.95 billion, indicating heightened investor activity.
According to the Solana price actions, the Chaikin Money Flow (CMF) stands at 0.18. This reflects strong buying interest and suggests that buyers are dominating the market. This positive momentum is further supported by the MACD, which shows a value of 0.63. This value indicating strong buying activity as it remains above the signal line of -0.34.
Solana (SOL) Price Chart (Source: TradingView )
Further, the cryptocurrency price is above the 9-day and 21-day MA. This indicates a strong upward trend, suggesting continued bullish momentum for the token.
While analyzing the SOL/USD 4-hour chart, the altcoin is facing local resistance at $145. This is a level it must get over to maintain an upward trajectory. Given the encouraging technical signals, a breakthrough above this resistance appears likely to lead SOL toward targets of $157 and the key level of $170.
However, SOL previously ranged between $183 and $150, but it is currently consolidating below the $150 mark.
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