Solana Price Prediction as Solana Mobile Saga Launches – Can SOL Reach $1,000 in 2023?
News that Solana Labs, the company behind the development of the smart-contract-enabled, high-performance Solana blockchain, will launch its crypto-integrated Android mobile phone on the 8th of May has failed to boost the Solana (SOL) price on Friday.
After hitting fresh highs since mid-February in the mid-$25s per token earlier in the session, SOL was last changing hands just above the $24 level, down a little over 1.0% on the day.
Solana’s web3-focused mobile is called Saga and pre-ordered devices are already being shipped. The highs specification phone will costs around $1,000 and duplicate as a hardware wallet.
The modest pullback in the SOL price comes back after Bitcoin and Ether also fall back slightly from multi-month highs hit earlier in the session above the $31,000 and $2,100 levels respectively.
Major cryptocurrencies have been performing well recently, with Solana still up over 14% this month and the likes of Bitcoin and Ether also nursing impressive recent gains.
Friday’s pullback should thus be viewed as little more than some short-term profit-taking.
Despite still trading about 10% down versus earlier annual highs around $27, Solana’s outlook looks upbeat.
The cryptocurrency recently broke to the north of an important technical structure that has been in play since last August and also broke convincingly above a cloud of resistance in the form of its major moving averages, all of which currently sit in the $21-22 area.
If SOL can now break above the key long-term support-turned-resistance zone in the $26-27 area, a test of last September and November’s highs in the $39 area become a strong possibility, which would mark a further 60% gain from current levels.
If SOL/USD could push above here, a retest of last
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