Solana Price Prediction After Sol Rose 110% in Q1, Deelance Could See Similar Growth
$SOL skyrocketed by 110% in the first quarter of 2023, outperforming both Bitcoin and Ethereum.
The bullish sentiments surrounding Solana are expected to continue to dominate. Experts believe that the token was oversold in 2022 due to its association with the FTX crisis. Solana was the second-largest holding of Alameda Research, which went bankrupt during the crypto winter. As a result, $SOL prices plummeted as well.
However, as the token surges again, investors believe that Solana can erase its 2022 losses and peak in 2023.
While proponents of Solana wait for further bullish movement, $DLANCE’s explosive movement during its pre-sale is catching many eyeballs. Experts believe that $DLANCE can have similar growth as $SOL and can outperform Bitcoin and Ethereum.
Solana Shows Strength, Reverses 2022 Downfall
Solana’s 110% price surge in the first quarter partially reversed its downfall during the FTX crisis. The Solana price prediction reveals a high likelihood of further bullish price movement. Technical analysis platform TradingView gives Solana a “BUY” signal in the 1-day time frame.
Both the 20-day Exponential Moving Average and the 30-day Exponential moving average are acting as strong support for $SOL. The 50-day exponential moving average at $21.03 becomes critical support as Solana continues to trade around $21.1.
Solana currently faces easy resistance at the 100-day Exponential Moving Average, which currently stands at $21.17. However, strong bullish momentum depends upon whether $SOL can breach the 200-day Exponential Moving Average at $25.75.
$SOL also continues to get positive signals from Moving Average Convergence/Divergence and the Bull Bear Power.
Solana’s technicals become stronger in the 4 hours time frame. TradingView gives $SOL a strong buy signal based on stellar moving averages. The token price breached the 200-day Exponential Moving Average at $20.98.
The Hull Moving Average at $21.24 becomes a critical resistance in this time frame.
The Relative Strength Index also paints a positive picture of Solana’s price movement.
Solana Price Prediction As Macroeconomic Conditions Improve
Aside from on-chain technical analysis, other key factors are bolstering Solana’s surge.
Solana continues to assert its dominance as an alternative to Ethereum. Recently, Solana outperformed both Ethereum and Polygon in daily active addresses.
Solana Mobile also announced that the launch date of its Saga smartphone is approaching rapidly. Solana Labs claims that this smartphone will allow users a premium mobile experience in their Web3 activities. This will likely bolster the positive sentiments surrounding Solana.
Moreover, macroeconomic conditions are becoming favorable for a crypto bull market. Solana’s downtrend from its all-time high of $260 can be attributed to the soaring inflation level and restrictive monetary policy.
However, recessionary warnings and the ongoing banking crisis will force central banks to become dovish. Risk assets such as Solana thrive in such an environment.
The $SOL price has an opportunity to surge by more than 70% as it faces an inverse head-and-shoulders setup. Experts believe that this pattern is a strong indicator of the reversal of downtrends. This pattern forms when the price of an asset falls and bounces back three consecutive times. In this pattern, the second price fall is greater than the first and third.
$SOL has been unable to breach this pattern for over a year. However, improving economic conditions along with increased mass adoption can result in a successful breakout. $SOL can show a 70% surge, pricing over the $35 mark.
Why DeeLance Could Show Exponential Growth
Solana’s popularity is a direct result of its use case. Its value as a faster, cheaper, and more scalable alternative to Ethereum makes it marketable. However, $SOL is known to be a very volatile cryptocurrency. Therefore, there is an increasing demand for alternative Web3 tokens which can replicate Solana’s first-quarter growth.
$DLANCE, the native token for Deelance, a fully decentralized freelancing platform, is catching eyes due to its strong performance during the ongoing pre-sale. DeeLance uses smart contract technology to match freelancers with potential clients. Using blockchain and smart contract technology gives DeeLance significant advantages over other Web2 freelancing platforms such as Upwork and Freelancer.
DeeLance is a faster alternative with a fast job posting and application mechanism. Freelancers will also benefit significantly by switching to DeeLance. It allows payment in crypto, which results in quick compensation. Moreover, the use of escrow accounts also ensures the reliability of payments.
More significantly, DeeLance charges only a 2% client fee and a 10% freelancer fee. This is significantly less than competing platforms such as Freelancer, Upwork, etc
$DLANCE is the native crypto token for the DeeLance platform. It is currently in the first stage of pre-sale and is priced at $0.025. However, the token is set for an explosive bullish movement.
By the final stage of its pre-sale, $DLANCE will have surged by 40% to be priced at $0.035. It will launch at the price of $0.037.
DeeLance’s exciting use case is expected to propel $DLANCE to new highs. Moreover, the Web3 freelancing platform has still a long way to go.
DeeLance expects to launch its token, list it on exchanges and start metaverse development within the second quarter of 2023. Furthermore, it also expects an NFT and an NFT marketplace launch by the third quarter. The Beta Version of the freelancing platform will also be launched in the third quarter.
These accomplishments will create extremely positive sentiments and further bolster interest in $DLANCE.
Purchasing $DLANCE is an extremely easy process. It can be purchased using a credit card on deelance.com, thus allowing easy accessibility. Users can also purchase the token using ETH or USDT.
