Solana price explodes after this announcement about Saga phone

Solana Mobile announced pre-ordering Saga phones for users in the US, Canada, UK and the European Union.
Solana price exploded, posting nearly 8% gains overnight as the crypto market recovers from the slump.
Analysts have predicted a short-lived Solana price rally, with an upside target of $44.

According to a recent announcement, Solana Mobile started accepting pre-orders for Saga phones in select countries worldwide. Analysts believe Solana’s price rally is short-lived, and the upside is capped at $44.

Solana Mobile invites pre-orders for Saga phones

Solana Mobile invited users to pre-order Saga phones at the Solana mobile store. Solana Mobile is a mobile technology company developing the Solana Mobile Stack and the Saga phone. A subsidiary of Solana Labs, the firm contributes to the development of the Solana protocol.

The flagship Android mobile phone can now be pre-ordered, ten devices per Solana wallet. The phone is integrated with the Solana blockchain, making it easy and secure to transact in web3 and manage digital assets like NFTs and cryptocurrencies.

The initial launch announcement revealed that customers who pre-order the Saga phone are eligible to receive a Saga Pass - an NFT that accompanies the first wave of Saga mobile devices and acts as the first ticket to influence the direction of the platform.

Saga is Solana’s mobile experience for individuals, developers and community members keen on embracing a future of web3-enabled hardware. Pre-orders for the phone require a $100 fully refundable deposit. The Saga phone costs about $1,000 and is currently prioritized for developers to test the mobile stack.

Interested in pre-ordering multiple Saga phones for your devs, or friends and family? Now you can:

Head over to https://t.co/QigYQjmxgn where you can now pre-order up to 10 devices in one transaction, from the same wallet. pic.twitter.com/sXML1r4srG
— Solana Mobile (@solanamobile) July 14, 2022

Solana price explodes, analysts argue upside is capped

Solana price exploded overnight, posting nearly 8% gains and breaking past the $37 level. Despite the optimism, analysts argue Solana’s upside is capped. If Solana continues its uptrend, the altcoin could break past $42.85 and hit the $44 target.

However, the Solana price rally is likely short-lived. Analysts argue that Solana price action is hanging by a thread. For details, check this video:

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.