Solana Price Prediction: SOL Plunges 4% As This New Layer-2 Meme Coin Presale Races Towards $4 Million

The
Solana
price
tumbled
more
than
4%
in
the
last
24
hours
to
trade
at
$197.93
as
of
10:12
p.m.
EST
as
traders
short
the
altcoin.

The
24-hour
pullback
in
the
SOL
price
coincided
with
a
broader
market
correction.
Throughout
the
past
trading
day,
the
digital
asset
market
cap
dropped
more
than
3%,
with
market
leaders
Bitcoin
(BTC)
and
Ethereum
(ETH)
falling
more
than
3%
and
5%,
respectively.

Solana
Price
Trying
To
Break
The
$198.64
Resistance

4-hour
chart
for
SOL/USD
(Source:

GeckoTerminal)

The


Solana

price
rebounded
from
the
$186.51
support
level
in
the
last
few
hours,
according
to

GeckoTerminal
data.
As
a
result,
the
crypto
is
now
attempting
to
break
above
the
technical
barrier
at
$198.64.
Should
it
close
a
4-hour
candle
above
this
threshold
within
the
next
12
hours,
the
altcoin
might
have
the
necessary
foundation
to
rise
to
as
high
as
$210.77
in
the
short
term.

On
the
other
hand,
a
rejection
by
the
$198.64
resistance
could
be
followed
by
a
retest
of
the
$186.51
support.
Sellers
might
then
exert
overwhelming
sell
pressure
on
the
Solana
price
in
this
alternative
scenario,
which
could
lead
to
a
drop
to
the
$172.02
support
level.

Bulls
Are
Trying
To
Take
Back
Control
Of
The
Solana
Price

From
a
technical
standpoint,
indicators
on
SOL’s
4-hour
chart
suggest
the


Solana

price
might
climb
through
the
course
of
the
next
24
hours.
Both
the
Relative
Strength
Index
(RSI)
and
Moving
Average
Convergence
Divergence
(MACD)
show
that
buyers
are
slowly
starting
to
take
control
of
the
crypto’s
price.

After
dropping
into
oversold
territory,
the
RSI
has
started
to
climb
again.
Traders
usually
see
rising
RSI
readings
as
a
sign
of
growing
buyers
strength.
While
the
latest
reading
at
around
37
signals
bears
still
have
the
upper
hand,
the
positive
slope
of
the
RSI
line
suggests
the
indicator
might
soon
break
above
the
neutral
50
mark
to
indicate
that
bulls
have
taken
back
control.

SOL’s
bearish
momentum
also
seems
to
be
cooling
down,
as
suggested
by
the
rising
MACD
Histogram
values
on
the
4-hour
chart.
This
indicator
measures
the
distance
between
the
MACD
and
MACD
Signal
lines
and
is
used
as
a
gauge
to
determine
how
strong
an
asset’s
bullish
or
bearish
momentum
is.

The
current
orientation
of
the
MACD
and
MACD
Signal
lines,
with
the
former
positioned
below
the
latter,
suggests
the
Solana
price
is
in
a
negative
cycle.
However,
the
narrowing
margin
between
the
two
lines
could
be
an
early
sign
of
an
upcoming
bullish
trend
reversal.

While
the
Solana
price
tries
to
recover
from
its
recent
correction,
investors
are
turning
their
attention
to
the
new
meme
coin


Solaxy
(SOLX),
which
offers
a
huge 1,126%
staking
APY.

In
addition
to
the
high
passive
rewards
on
offer,
the
token
also
comes
with
great
speculative
potential,
according
to
popular
crypto
YouTuber
ClayBro.

In
a
recent
video
for
his
more
than
134K
subscribers,
he
said
that
the
SOLX
token
has
the
potential
to
soar
100X
after
its
launch.

The
First
Solana
Scaling
Solution

The
Solana
network
is
under
immense
computational
stress
this
year
with
the
surging
hype
levels
around
meme
coins.
Due
to
its
low
fees
and
lightning
speeds,
Solana
has
become
the
blockchain
of
choice
for
developers
this
year.
However,
the
influx
of
new
meme
coins
has
tested
the
network’s
technical
capabilities,
even
leading
to
another
outage
this
year.

This
is
where
Solaxy,
which
positions
itself
as
the
first
Solana
scaling
solution,
comes
in.
With
its
native
layer-2
network,
the
project
will
provide
some
much-needed
support
to
the
Solana
network.
This
includes
increased
scalability
and
even
quicker
processing
times.

While
its
primary
objective
is
to
help
Solana
scale,
Solaxy
is
more
than
just
another
SOL-based
application.
It
is
its
own
standalone
project,
with
its
token
also
residing
on
the
Ethereum
network.

FIRST
L2
on
SOLANA
?
sign
me
up
already

$SOLX
(

@SOLAXYTOKEN
)

~
Multi-chain
potential
(cross
chain
transactions
possible
in
future)
~
fast
transaction
with
little
or
no
congestion
on
sol
~
presale
is
currently
live
~
high
staking
rewards

~
Presale
price
increases
with…

pic.twitter.com/1GeGW84LRs

—
JUSTICΞ
????????⭕️
(@offshoda)

December
19,
2024

This
multi-chain
meme
coin
approach
enables
Solaxy
to
become
a
gateway
of
sorts
that
combines
Solana’s
lightning
fast
speeds
and
ultra
low
transaction
fees
with
Ethereum’s
robust
security
and
thriving
DeFi
ecosystem.

Solaxy,
with
its
SOLX
token,
could
therefore
very
well
become
the
primary
value
transport
vehicle
between
the
two
prominent
blockchains.

Investors
Bet
Big
On
SOLX’s
Future

The
Solaxy
presale
has
sucked
in
more
than
$3.4
million
in
just
six
days,
signaling
strong
investor
confidence
in
the
project’s
future.

Anyone
that
wants
to
acquire
the
token
now
can
do
so
through
the
buy
widget
embedded
on
the
project’s
website.

Selling
for
$0.001572,
SOLX
can
be
bought
with
either
ETH,
USDT,
BNB
or
bank
card.
Once
bought,
the
tokens
can
then
be
staked
for
the
1,126%
APY.

Interested
investors
should
buy
before
a
price
hike
in
a
little
more
than
1
day
to
secure
the
best
deal.

Visit
SOLX
here.

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