"No matter what, don't forget to do your own analysis."
While the entire cryptocurrency market is witnessing a recovery, Solana (SOL) is also refusing to be left behind as its price tries its best to climb higher through several developments.
According to Anatoly Yakovenko, co-founder of Solana Labs said that his team that is researching the position of the digital asset in the stablecoin market really believes in the financial transition on a platform like Solana.
Although the Solana Saga phone currently sells only 2,200 units, Yakovenko who wants to establish a strong user base has emphasized the need for higher sales of 25,000 to 50,000 units.
The phone packs all the usual functions users expect from a smartphone and adds a Web3 experience including a decentralized application store (DApp) as well as seamless integration across crypto wallets or DApps.
Yakovenko also envisioned potential initiatives such as launching new capital, improving applications, introducing store discounts and others.
Now, let's examine the current price movement chart of SOL/USDT.
SOL which is currently trading at $63.59 has recorded a 5.29% gain in the last 24 hours and gained 8.66% over the last week.
The price once reached $67 on November 16, 2023 which was the highest level for trading this year.
From a technical point of view, SOL is currently in a consolidate phase where the price is struggling to break through $66 and has been hovering below that level for the past three weeks.
However, SOL is expected to continue its rise up to $80 if the price can break its resistance zone at $66, but if it fails then the digital asset can retest the level of $51 or $47.
Even so, if SOL breaks below that level and continues to move downward, then the price could see a more drastic decline to $33.60 followed by $18.
