As Solana (SOL) edges closer to the $100 mark, the crypto community is abuzz with speculation about its potential to surpass its previous all-time highs. Trading at $94.05 today, SOL has seen a 1.03% increase in the last 24 hours, with a robust trading volume of around $2.34 billion.
Currently ranked fifth on CoinMarketCap, Solana boasts a market capitalization of approximately $40.76 billion USD and a circulating supply of 433.38 million SOL coins.
This recent surge in price and market position has sparked discussions among investors and analysts alike, as they ponder whether SOL can sustain this momentum and set new records in the cryptocurrency market.

Solana Price Prediction

Observing the 4-hour chart, Solana presents a complex picture. The pivot point, a crucial indicator of market sentiment, is at $93.99. Resistance levels are noted at $97.40, $99.89, and $103.37, representing critical points where selling pressure might intensify.
Support levels are identified at $90.69, $88.02, and $85.10, which could provide a rebound in price if tested.
The Relative Strength Index (RSI) is currently at 64, suggesting a slightly overbought condition but not alarmingly so. The 50-Day Exponential Moving Average (EMA) stands at $91.06, supporting the ongoing uptrend.

📈#SolanaUpdate: SOL shows a complex scenario on the 4h chart. Pivot at $93.99, with resistance at $97.40, $99.89, & $103.37. Support at $90.69, $88.02, & $85.10. RSI at 64 suggests slight overbuying, but 50-Day EMA at $91.06 indicates an uptrend. Watch $97.40 for momentum shift. pic.twitter.com/N6Omn9JVL3

— Arslan Ali (@forex_arslan) January 28, 2024

Chart patterns reveal a downward trendline extending resistance at $97.40. This level is crucial; a break above could signal a shift in momentum, whereas failure to breach may encourage selling. The 50-day EMA underlines the bullish sentiment, offering a robust support level.
Solana Price Chart – Source: Tradingview
From a technical standpoint, Solana appears to be in a bullish phase, contingent upon maintaining above the pivot point of $93.99.
The immediate term outlook is cautiously optimistic. We expect Solana to test the resistance at $97.40 in the coming days.
A successful breach of this level could pave the way for further gains, potentially aiming for the next resistance at $99.89.
However, it is essential to monitor closely for any reversal signals. The cryptocurrency market is known for its volatility, and shifts in sentiment can occur rapidly.

Sponge V2 Exchange Listing Looms: Exclusive Buying and Staking Opportunity with Enhanced Rewards

In the wake of Ethereum’s advancements, Sponge V2 is on the brink of a pivotal moment with its upcoming exchange listing. This iteration signifies a significant leap from Sponge V1, introducing an innovative staking mechanism.
Users have the unique opportunity to stake their Sponge V1 tokens to earn Sponge V2, capitalizing on the project’s growth and new features.
The price trajectory of Sponge has been remarkable, soaring by 2797.26% from the V1 launch price of $0.000025 to the current value of $0.000699.
Key Highlights:

• Limited Acquisition Window: This is the last chance to acquire and stake Sponge V2 before it hits the exchanges.
• Enhanced Staking Rewards: Attractive returns with a 265% reward rate for staking.
• Substantial Price Surge: Witnessed a staggering 2797.26% increase since its initial launch.
• Considerable Stakes: Over $4.26 million in tokens have been staked and transitioned.

Sponge V2 expands beyond staking, integrating a Play-to-Earn (P2E) feature, diversifying earning possibilities with engaging gaming elements.

• Exclusive Token Earnings: Earn $SPONGEV2 exclusively through staking $SPONGE.
• Passive Income Potential: Starting Annual Percentage Yield (APY) of 40% on staked $SPONGE tokens.
• Strategic Evolution: Post-listing, the focus will pivot mainly to V2, with V1 stakes being locked permanently.

As Sponge V2 gears up for its exchange debut, it stands to make a significant impact in the meme coin arena with its novel earning and gaming opportunities. Don’t miss this crucial chance to stake $SPONGE and earn Sponge V2 tokens before the highly anticipated exchange listing.
Get Sponge V2 HereDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Bitcoin (BTC) Rival Launches Viral Cartoon Video As Token Presale Nears Half-A-Million Dollars

Bitcoin had a stellar 2023 but this year, 2024, has started off rocky. The store-of-value token’s price has tumbled from January’s high of $48,000 to $41,000 in 3 weeks. As investors look for options to stop the bleeding of profits, many are eyeing the new rival, Mollars token. The alternative crypto’s creator made headlines a week ago for saying Satoshi Nakamoto’s massive share of self-gifted Bitcoins means the token is not truly decentralized. Now, as it appears many crypto investors have taken heed, pushing the Mollars token presale to nearly Half-a-Million dollars as a viral crypto cartoon video gets launched to educated traders.
The new video was released On Saturday, January 27th. The animated short titled “Mollars ($MOLLARS) Token | Store of Value Token | A Bitcoin Alternative,” was uploaded to the cryptocurrency project’s  official YouTube channel.
As news outlets begin to syndicate or review the video, it’s reached over 2,223 views in less than 24 hours and is still growing.

Is this cartoon helping traders?

The first comment appears to indicate viewers appreciate the educational creative.
“Decentralized not decentralized…but this is a very straightforward video explaining quite nicely” wrote the first commenter on the video, user @Seymourtegan7609.
On Reddit, the video was just shared to the community by an official admin. It has also received positive reviews on the content-sharing social media platform. With nearly 100 likes already and 5 comments within 2 hours, the post will likely reach thousands of users.
The Mollar subreddit community has 771 followers currently and is growing daily.  Most of the users watching in the group are likely investors of the token presale.

Crypto Project’s Leadership Looks Stellar

This Mollars Token cartoon is one of the first of its kind.  The high quality animation also teases traders with a showcase of the ability of the team of professionals hired to fulfill the Bitcoin alternative’s various product goals.
It’s obvious if Mollars has the ability to reach talented audio-visual artists, other key professionals such as web3 programmers and a skilled marketing agency is also possible.  First class quality usually breeds success in anything, especially in the crypto world.

ICO Funds Raised & Total Tokens Sold

The results so far from the ‘Bitcoin Killer’ developments has been nearly half-a-million dollars in tokens presold.   The official site for the ICO [view here] shows $466,529 has been raised and over 1,204,874 tokens have been sold.
The actual amount raised shifts with the price of the Ethereum. If the $ETH coin rises back to its January highs, this initial coin offering’s total capital raised will be closer to or over, $500,000 (USD).

Why are Ethereum’s Bitcoin holders Switching To Mollars?

Even though the crypto market as a whole has seen downtrends this year, including both Bitcoin (BTC) and Ethereum (ETH), the demand for Mollars has remained bullish. Daily token presale averages went from just over 85,000 last week to now reaching past 110,000.  There’s even been one day during the Mollars ICO where over 250,000 tokens were sold thanks to a spike in crypto sharks and whales buying big.
The reason Cryptocurrency traders are buying millions of $MOLLARS tokens in its presale stage are utility and profit potential.

Utility Against Inflation

The Mollars token has 2 main utilities. The first, those who buy the ERC-20 asset are buying into a store-of-value token just like Bitcoin. This is a currency that can help money retain value against global inflation.
The SOV utility mainly comes from the combination of scarcity and demand. Mollars will have less than half the total token supply of Bitcoin.  The small amount of Bitcoin that will ever exist — 21 million coins. There will be less than half than this supply minted for $Mollars — 10 million tokens.
Over 10% of the total supply that will ever be minted by Mollars has already been sold in presale. There are 3.7-million more tokens to be sold in presale, before the initial coin offering supply is exhausted and the ICO will close.

The current daily sales volume shows $Mollars are being bought at a rate of 110,00 coins per day. Based on this data, the presale supply will be sold in 35 days or less.
After that token presale supply of 4-million is sold via Mollars.com, the remaining 6-million tokens will be sold on a public decentralized cryptocurrency exchange.  Based on the most recent sales data, daily demand would exhaust that supply of 6M tokens in 55 days.
Store of value tokens demand is what drives their price and keeps them from falling into inflation. As long as Mollars keeps being bought by cryptocurrency traders, the value will go upward.
Cryptocurrency is currently used by less than 5% of the world per reports. With millions of people joining the cryptocurrency world yearly, as long as Mollars brand continues finding new demand from those ‘newbies,’ the total supply of over 10-million tokens will be exhausted.
Just as Bitcoin, after the full supply is exhausted, traders will begin buying tokens in pieces. These fractions of tokens will be called “Molls.”
Once Mollars tokens have been normalized as Molls, it’s predicted the value of the store-of-value token could reach 44x the current value or more. And this is a forecast some crypto analysts believe could happen in 2024, based on current demand and the token project’s whitepaper mentioning the need for a professional marketing agency.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.