Solana price is sitting on top of robust support after bulls ran into a solid seller congestion zone at $17.50. The smart contract token exploded more than 30% this week following BONK’s debut. BONK (BONK) brought investor attention back to SOL following a catastrophic 2022 – worsened by the implosion of FTX exchange.

SOL now trades at $16.62 as bulls rush to defend the nearest support to ensure the bullish outlook in SOL is preserved. A minor spike in trading volume to $835 million over the last 24 hours affirms investors’ interest in accumulating Solana.

BONK triggered a rally in Solana price immediately after the New Year as investors scooped the cheap tokens. The dog-themed token exploded more than 1,000% from its all-time of $0.00000009197 to $0.000004922.

BONK/USD price chart

Solana Price Rally On Hold But Is SOL Still A Good Buy?

Solana price dodders at $16.72 after a second failed attempt to break above resistance at $17.50, as highlighted by a critical falling trendline (continuous line). A retracement would be a blessing in disguise as it will give already sidelined buyers an opportunity to buy SOL ahead of the next rally to highs around $36.00.

SOL/USD eight-hour chart

An eight-hour to a daily close below the trend line may ignite a sell-off. However, traders betting on short positions in Solana price must wait for movement below the 200-day Exponential Moving Average (EMA) (in purple) at $15.92 before firing up their sell orders.

With the Relative Strength Index (RSI) falling into the neutral region from the overbought region, there’s a possibility of selling pressure soaring in the upcoming sessions. SOL decline will become aggressive if the RSI sustains a negative divergence from the price.

For short positions entered below the 200-day EMA, traders would be looking forward to cashing out around $14.00 – confluence support formed by the 50-day EMA (in red) and the 100-day EMA (in blue).

On the bright side, Solana price holds above all the major moving averages; thus, it has not lost its bullish charm. That’s not all; the 50-day EMA has recently crossed above the 100-day EMA, adding credence to the bullish outlook.

Bulls must push above the upper falling trend line before bears turn the tables. Solana price would be safe from bearish advances after crossing through the demand zone between $17.50 and $21.50.

Solana Price Alternatives To Consider

The first couple of weeks have rewarded patient investors, but the bullish wave has been fading toward the weekend. Moreover, investors could be anxious about the United States Consumer Price Index (CPI) figures expected later today and the Federal Reserve decision on interest rate hike later this month.

Meanwhile, investors might consider exposure to new crypto presales likely to give them an edge in the market. The tokens here are carefully selected for solving real-world issues and may rally upon their initial listings on exchanges.

Meta Master Guild (MEMAG)

Players have consistently demonstrated readiness to put both their finances and time into crypto games they find entertaining. The goal of Meta Masters Guild (MMG) is to create a gaming atmosphere that encourages a thriving in-game economy while developing superior web 3.0 games.

The initial game developed by Meta Masters Guild centers on racing in the metaverse through a high-end kart racing experience. Players will belong to one of the three factions available: cyber, punks, and apes, and they will compete against each other to achieve dominance and earn rewards in the form of the MEMAG token.

The project aims to establish itself as a leading play-to-earn racing game in the near future, focusing on gaming, earning opportunities, and NFTs as integral elements of its ecosystem.

Meta Masters Guild presales kicked off with a bang, raising $126k in no time. Investors are spending 0.007 USDT on 1 MEMAG token.

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FightOut (OUT)

Demand for fitness solutions continues to grow globally, and FightOut wishes to be at the center of it. The team is ready to make the fitness lifestyle affordable while incentivizing people to stick to new routines.

To do this, FightOut is bringing up an M2E fitness app and gym chain that seek to gamify fitness. Users in this new ecosystem will be rewarded for completing workouts and challenges, in addition to earning badges and growing within a vibrant community.

FightOut is also tapping new Web3 solutions to onboard many people to crypto without acquiring expensive NFTs, as has been the case with leading M2E projects such as STEPN.

Users will grow their digital avatars as they push ahead in their fitness journeys. The same avatars will be used as NFTs to access the metaverse, where they will interact with other like-minded people and tap more opportunities to earn rewards.

In summary, the project is centered around fitness. It includes workout instructions, a physical gym for the community, an app for convenience, and an NFT integrated into the metaverse.

(2) Fight Out on Twitter: “Join the Fight Out presale now and become an early adopter! Get involved and enjoy up to a 50% bonus! ⏰ Hurry before the stage 2 price increases to $0.0333! ⬇️ https://t.co/z34Nkx3ffi https://t.co/Bh7DSlgeoG” / Twitter

Investors are rushing to buy FGHT tokens while the 50% presale bonus offered by the team is valid. However, the offer is time limited and will lapse after the $5 million mark has been crossed. FightOut’s presale has raised $2.88 million so far.

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C+Charge (CCHG)

C+Charge endeavors to establish a complete P2P payment system for electric vehicle charging stations using blockchain technology. Each user will be provided with a digital wallet that they can use to pay for EV charging using the C+Charge utility token.

A tokenized economy powered by CCHG, the platform’s native token, ensures that electric vehicle (EV) drivers earn every time they charge their vehicles. Charge station operators are also paid in CCHG tokens. Earned carbon credits will be stored in an app and redeemed at a later date.

(2) C+Charge on Twitter: “Using a rapid EV charger can significantly improve your charging experience! 🔌 At C+Charge we give you access to fast and convenient charging options ✅ Don’t miss the chance to grab some $CCHG today and stay ahead of others! ⬇️ https://t.co/ixe18bPqzI https://t.co/nAqRgpX1aH” / Twitter

The app will also be used to pass information such as charging stations location, real-time charger waiting times, and carbon credit tracker and provide a technical diagnosis of the charging stations. C+charge supercharged presale has raised $263k, far ahead of the first CEX listing on March 31, 2023.

Visit C+Charge Presale Now.

Calvaria (RIA)

The final phase of the token sale for Calvaria, a play-to-earn battle card game, is on the home stretch, with $2.737 million. In other words, only 12% of the available RIA tokens are left, and RIA is set to be listed on exchanges like LBANK Exchange and BKEX Global in the coming weeks.

(2) LBank.com on Twitter: “🚀 Upcoming Listing 💎 RIA(Calvaria: Duels of Eternity) will be listed soon on #LBank! @CalvariaP2E 🔖Details: https://t.co/U3X0fZXWS1 https://t.co/E7cOrPSu6j” / Twitter

Calvaria is an intriguing game because it doesn’t require cryptocurrencies to play and is accessible on PC and mobile app stores. This makes it more approachable than already-existing blockchain-based games and may make it more popular than its competitors. The game, with a fabled afterlife as its setting, is scheduled to debut in Q2 2023.

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Meta Masters Guild - Next Big Crypto Game

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