Solana’s native cryptocurrency, SOL, saw a notable increase of over 9.45%, climbing from $127 to $139. This rise follows the announcement of Solana Mobile’s upcoming smartphone, the ‘Seeker,’ set to launch in 2025 with upgraded hardware features.
Solana Mobile, a subsidiary of Solana Labs, revealed its second crypto-focused smartphone, the ‘Solana Seeker,’ which has already generated substantial interest, surpassing 140,000 presales across 57 countries. The Seeker, slated for mid-2025, will feature an enhanced display, improved battery life, and superior camera capabilities. The announcement has excited the Solana community, especially after the success of memecoin airdrops that briefly covered the phone’s cost.
The introduction of the Seeker could play a crucial role in promoting cryptocurrency adoption by providing users with a seamless way to access and utilize digital assets. Analysts suggest that the combination of strong product launches and growing acceptance of crypto could drive sustained growth for Solana’s native token, SOL.
Current Market Overview and Technical Analysis of SOL
As of now, SOL is trading at $139.28, with a market cap of approximately $64.97 billion. The daily trading volume has surged by over 63%, reaching $2.95 billion, signaling heightened interest from investors.
Technically, Solana’s price momentum is positive. The Chaikin Money Flow (CMF) is at 0.18, indicating strong buying interest. Additionally, the MACD (Moving Average Convergence Divergence) shows a value of 0.63, signaling continued buying pressure as it remains above the signal line at -0.34.
Furthermore, SOL is trading above its 9-day and 21-day moving averages, reflecting an ongoing upward trend. On the 4-hour SOL/USD chart, the token faces resistance around $145, a key level it must break to maintain its bullish momentum. A breakout above this level could propel SOL toward targets of $157 and potentially $170.
However, it is worth noting that SOL previously ranged between $183 and $150 but is now consolidating below the $150 mark.
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