Solana Price Prediction: SOL Drops 3% After CME Clarifies Solana Futures Addition Was An Error, Driving Traders To This Layer-2 Solution

The
Solana
price
dropped
3%
in
the
past
24
hours
to
trade
at
$247.51
as
of
02:32
a.m.
EST
on
trading
volume
that
rose
1%
to
$10
billion.

This
pullback
in
the
SOL
price
comes
as
a
Chicago
Mercantile
Exchange
(CME)
representative
clarified
an
earlier
leak
on
the
website
showing
regulated
XRP
and
SOL
futures,
indicating
that
the
addition
was
an
error.

A

@CMEGroup
spokesperson
tells

@FoxBusiness
that
the
beta
version
of
the
website,
which
is
often
used
for
mock
up
drafts,
was
made
public
in
error.
No
official
decisions
have
yet
been
made
about
launching
futures
contracts
for
either
token.

https://t.co/10XfenoIL7

—
Eleanor
Terrett
(@EleanorTerrett)

January
23,
2025

“A
beta
page
from
our
website
was
released
in
error
earlier
today,”
the
spokesperson
said.

Solana
Price
Set
For
A
Bullish
Rally

The

SOL
price

on
a
daily
chart

presents
a
bullish
outlook,
with
the
current
price
at
$247.51
indicating
an
attempt
of
the
asset
to
rally. 
A
significant
trend
reversal
has
emerged
recently,
with
the
Solana
price
forming
a
rounding
bottom
pattern.

The
Solana
price
is
trading
comfortably
above
its
50-day
(white
line,
$211.69)
and
200-day
(yellow
line,
$177.67)
Simple
Moving
Averages
(SMAs),
both
of
which
are
sloping
upward. 

This
golden
cross,
where
the
50-day
SMA
crossed
above
the
200-day
SMA
at
around
$148.97,
signals
a
robust
bullish
trend,
according
to


GeckoTerminal

data.

Meanwhile,
the
Relative
Strength
Index
(RSI)
is
currently
at
61.50,
which
is
slightly
below
the
overbought
threshold
of
70.
This
indicates
that
there
is
still
room
for
further
price
appreciation
without
the
asset
becoming
overbought.

The
Moving
Average
Convergence
Divergence
(MACD)
line
(blue)
is
well
above
the
signal
line
(orange),
with
positive
histogram
bars.
This
suggests
that
bullish
momentum
remains
strong.

SOL
Poised
For
A
New
ATH

The
combination
of
the
breakout
from
the
rounding
bottom
pattern,
bullish
moving
averages,
and
supportive
technical
indicators
point
to
further
upside
potential. 

A
projected
target
for
the
pattern
breakout
lies
in
the
range
of
$339,
which
is
a
new
Solana
all-time
high
(ATH)

In
the
short
term,
a
minor
retracement
or
consolidation
near
the
$240-$250
level
is
possible
as
the
market
absorbs
recent
gains.

Meanwhile,
investors
are
also
buying
a
new
Solana
meme
coin
called


Solaxy
(SOLX),
which
popular
YouTube
channel
99Bitcoins,
with
over
722K
subscribers,
says
has
the
potential
to
soar
100X
post-launch.

A
Promising
Alternative
To
Solana

The
Solaxy
token
continues
to
gain
momentum,
with
its
presale
raising
over
$13.5
million.

The
Solana
network
faced
challenges
over
the
weekend
as
trading
for


TRUMP

and


MELANIA

tokens
surged.
Such
massive
trading
volume
pushed
the
blockchain
to
its
limits,
causing
delayed
transactions
and
system
timeouts
that
left
users
frustrated.

This
is
where
Solaxy
steps
in.
As
Solana’s
first
layer-2
scaling
solution,
Solaxy
handles
transactions
off-chain
before
bundling
them
back
to
the
main
network.
This
method
reduces
congestion
and
keeps
fees
low,
offering
exactly
what
traders
needed
during
the
meme
coin
trading
frenzy.

????
Solaxy
is
now
live
in
Upcoming
Tokens!
????@SOLAXYTOKEN
gives
holders
an
opportunity
to
join
the
first-ever
Solana
Layer
2
blockchain.

Solaxy
is
set
to
enhance
blockchain
innovation
through
limiting
congestion,
reducing
failed
transactions,
and
improving
scalability
on
SOL.…

pic.twitter.com/satNF6zFNF

—
Best
Wallet
(@BestWalletHQ)

December
17,
2024

Moreover,
once
launched,
Solaxy
will
provide
a
platform
where
developers
can
build
decentralized
applications
or
launch
new
tokens
without
compromising
(and
possibly
even
improving)
Solana’s
layer-1
capabilities. 

Solaxy
also
offers
holders
who
stake
the
project’s
SOLX
tokens
a
huge
annual
yield
of
280%.

Investors
interested
in
participating
in
the
presale
can
visit
the
official
Solaxy
website
to
buy
SOLX
tokens
for
$0.00162
each
using
BNB,
ETH,
USDT,
or
a
bank
card.

Buy
SOLX
here
before
a
price
hike
in
44
hours
to
secure
the
best
deal.

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