Solana Price Prediction as SOL Reaches Highest Level Since December 2021 – Can SOL Overtake Ethereum?

Arslan Butt

Last updated:

| 3 min read

Solana Price
Solana Price Prediction

Marathon Digital Expands Influence in Blockchain with Strategic Bitcoin Mining Acquisition

Marathon Digital’s latest move to acquire a 200MW Bitcoin mining facility in Texas for $87.3 million marks a significant leap in its operational capacity, now reaching 1.1 gigawatts. This expansion is poised to:

  • Cut the cost of mining per coin by 20%.
  • Amplify the company’s growth potential.

Targeting ownership and operation of 54% of its mining infrastructure by 2024, Marathon underlines its commitment to enhancing its footprint in the blockchain sector.

Despite facing a potential hurdle with the upcoming Bitcoin halving in mid-April—which could reduce mining rewards by half—the company has seen a revenue boost in 2023, thanks to increased production levels and Bitcoin’s price increase.

Additionally, Marathon’s new service for faster Bitcoin transactions underscores its innovative approach to blockchain technology.

Marathon to purchase 200MW Bitcoin mining center from Applied Digital for $87.3Mhttps://t.co/112y2U6gKs

— John Morgan (@johnmorganFL) March 15, 2024

This strategic acquisition not only reinforces Marathon’s role in strengthening the Bitcoin network but also may indirectly influence the broader blockchain ecosystem, including networks like Solana.

US Senators Urge SEC to Halt Approvals for Crypto ETFs Amid Concerns

Solana Price Prediction

Solana (SOL/USD)’s pivot point stands at around $188.69 with resistance levels are identified progressively at $201.35, $214.81, and $227.15, indicating potential hurdles in Solana’s upward trajectory.

Conversely, support levels situated below the pivot—$170.07, $158.56, and $149.35—outline critical zones that could cushion further declines.

Solana Price Prediction
Solana Price Prediction

The Relative Strength Index (RSI) stands at 74, signaling a potentially overbought condition that might cap further gains in the near term.

The 50-day Exponential Moving Average (EMA) at $159.00 corroborates the asset’s bullish momentum, highlighting a substantial upward trend.

However, a fall below the pivot point of $188.69 could trigger a significant sell-off, targeting lower support levels.

In conclusion, Solana exhibits a strong bullish posture above its pivot point of $188.69. The technical setup suggests robust upward momentum, but with caution advised due to the high RSI reading.

Eco-Friendly Bitcoin: Pioneering a Sustainable Future in Cryptocurrency Investment

Green Bitcoin is at the forefront of a groundbreaking movement within the cryptocurrency world, marrying environmental preservation’s critical need with the dynamic field of digital currencies.

Token Distribution Overview:

  • Initial Offering (40%): Sets the currency in motion with substantial initial energy, laying a foundation for ongoing development.
  • Staking Incentives (27.5%): Dedicates a significant portion to reward the continuous engagement of the community, crucial for the ecosystem’s prosperity.
  • Promotional Activities (17.5%): Allocates funds to key marketing efforts aimed at enhancing the currency’s global presence.
  • Trading Fluidity (10%): Ensures seamless trading experiences, improving the token’s accessibility on various platforms.
  • Community Engagement Rewards (5%): Rewards and encourages the active participation of the core community, fostering loyalty and commitment.

The ‘Eco Pathway’ outlines a clear strategy for Eco-Friendly Bitcoin, starting with a value-driven initial offering and moving through targeted initiatives to activate the community and secure the token’s position in the market.

Current Funding: $4,987,799.52 out of $5,375,669

Current Exchange Rate: 1 $EFCB = $0.9922

Dive into the Eco-Friendly Bitcoin universe, where your investment not only seeks profit but also supports a sustainable financial future. By investing now, you become part of a pioneering effort to ensure a cleaner planet.

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