- Solana Mobile shared earlier today that it has reduced the price of Saga.
- Despite this new announcement, the price of SOL fell by 1.51%, which left the altcoin trading at $24.32.
- A significant short-term bullish technical flag was on the verge of being triggered on SOL’s daily chart.
Solana Mobile shared on Twitter earlier today that it has reduced the price of Saga, Solana’s Web3 mobile phone. The phone will now cost people $599, according to the post. Solana Mobile also shared that Saga users have embraced the new technology over the past four months, and that they are still working on improving the user experience even more.
The Solana team hopes to attract more users by “constantly adding new benefits like allow lists and NFT drops, as well as innovative applications to the Solana dApp Store.” The post concluded by pointing out that the reduction in Saga’s price was mainly aimed at increasing adoption of mobile web3.
Although Saga is not yet available in all countries, the Solana Mobile team shared that they hope to make it available to as many people as possible in the future. However, despite the Saga price reduction announcement, CoinMarketCap indicated that the price of SOL fell by 1.51% over the past 24 hours of trading.
This left SOL trading hands at $24.32, which was a bit closer to its daily low of $24.15 than its 24 hour high of $24.95. Meanwhile, SOL’s 24 hour trading volume stood at around $413,537,486, which was a 21+% drop since yesterday.
A significant short-term bullish technical flag was on the verge of being triggered on SOL’s daily chart. At press time, the 9-day EMA line was looking to cross above the 20-day EMA line. Should these 2 technical indicators cross, SOL’s price may climb to $26 in the next 24-48 hours. Continued buy support may even elevate it to $29.25 in the coming week.
On the other hand, if SOL’s price closes a daily candle below the 9-day and 20-day EMA lines at around $23.77, then the bullish thesis will be invalidated. In this scenario, SOL may fall to $21.45 in the following couple of days.
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