- Solana kicks Bitcoin into the curb on a weekly performance comparison, after SOL surges above $102.
- Solana receives 85,000 pre-orders for its blockchain phone, as of Thursday.
- SOL price climbs nearly 4% in the past week, the altcoin is likely to continue higher.
Solana is one of the altcoins that is outperforming the largest asset by market capitalization this week. SOL price climbed to its February high of $102.57 on February 2. The altcoin is likely to continue rallying towards resistance at $107.12.
Also read: XRP price faces risk of decline with XRPLedger AMM amendment proposal in jeopardy
Solana outperforms Bitcoin, receives per-orders for second release of blockchain phone
According to data from crypto intelligence tracker Santiment, Solana outperformed Bitcoin on a weekly timeframe. Solana started the week with an outage that raised concerns among SOL holders. SOL price nosedived to a local bottom at $92.88 on Tuesday but a recovery followed.
Solana price recovers from outage. Source: Santiment
At the time of writing, Solana price is $100.57 on Binance.
Solana dropped details of a key milestone in its pre-orders for the second release of its blockchain phone, Solana Mobile. As of Thursday, Solana has received 85,000 pre-orders for its phone, a new record.
85,000 preorders & counting
— Solana Mobile 2️⃣ (@solanamobile) February 7, 2024
Thanks to the community, your faith in us has fueled the #Chapter2 journey and is turning our vision into a reality
The first #Chapter2 Leaderboard snapshot is just 24 hours away
Preorder & share now https://t.co/LMnynuZBhW pic.twitter.com/w7cWPJdjIi
Solana price is likely to rally
Solana price is likely poised for 6% gains as SOL price recovers from its local bottom of $92.88 to $100.82, on Thursday. The altcoin sustained above the key psychological level of $100. The Moving Average Convergence Divergence (MACD) indicator flashes green bars and indicates there is positive momentum and SOL price could potentially rally.
The Relative Strength Index (RSI) reads 56.93, the reading is above the neutral level of 50. SOL price could face resistance at R1, $107.12, a level that acted as resistance for SOL since December 2023. If SOL price breaks past R1, the altcoin could rally towards its 2024 peak of $117.03.
SOL/USDT 1-day chart
A daily candlestick close below the daily support/resistance level of $90.79 could invalidate the bullish thesis for SOL. Solana price could then nosedive towards $85.42, its January 8 low.
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