- Solana Mobile’s flagship Android phone that offers users a web3 experience is available from late Monday.
- Saga owners can claim a Saga genesis token when setting up their blockchain device.
- The Saga phone is likely to catalyze SOL utility and price recovery.
Solana’s Saga Mobile, which offers users access to decentralized applications (dApps) and Web3 applications in the Solana ecosystem, is available for purchase from late Monday. .
The launch of the smartphone, along with the usage of its Ethereum-alternative blockchain technology, could give a boost to Solana (SOL) price recovery, which has been facing a bearish outlook recently.
Also read: Solana details plan to optimize the Web3 experience on mobile
Solana Saga Mobile launches for general public
Solana Mobile rolled out its flagship Android blockchain phone for the public. The phone will be available for customers in the United States (US), Canada, European Union (EU), United Kingdom (UK), Switzerland, Australia and New Zealand.
JUST DROPPED
— Solana Mobile (@solanamobile) May 8, 2023
Saga public orders are now open for
Order yours at: https://t.co/4ZIEs6ZysF pic.twitter.com/bmAhBFWToR
The Solana phone offers users self-custody solution, Solana dApp store and web3 applications on mobile. These features facilitate a boost in utility of projects in the Solana ecosystem.
Moreover, Saga owners are offered a unique device bound NFT that is key to Solana-based rewards, the company said in a recent blog post.
The launch and rollout of the Saga phone has been long awaited by SOL holders, who hope that the event will catalyze the token’s recovery.
SOL price has fallen almost 3% since May 8, trading at $20.5 at the time of writing.
Where is Solana price headed next?
Solana price is in an upward trend that started at the beginning of 2023. The altcoin is consolidating between the 23.6% Fibonacci level at $17.61 and 50% Fibonacci level at $28.25.
There is a key resistance zone between $27.50 and $36, where Solana price consolidated before a decline. SOL’s immediate targets on the upside are the 38.2% Fibonacci retracement at $23.50 and $25.75, a level that has acted as resistance since November 2022.
SOL/USD 1D price chart
Solana price could find support at 23.6% Fibonacci level of $17.61 and $16.14. A decisive close below the $16.14 level could signal a trend reversal in the Ethereum-killer altcoin.
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.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.