Solana Price Prediction: SOL Pumps 5% As This New Layer-2 Meme Coin Presale Charges Toward $11 Million

The
Solana
price
pumped
11%
in
the
last
week
and
5%
in
the
past
24
hours
to
trade
at
$211.23
as
of
11:18
p.m.
EST
on
trading
volume
that
rose
43%
to
$7.1
billion.

Solana
Price
On
A
Bullish
Trend
Reversal

The


SOL
price

analysis
is
showing
strong
bullish
momentum
in
the
4-hour
timeframe.
The
Solana
price
has
broken
out
of
a
consolidation
phase
with
significant
upward
movement.

SOL’s
recent
movement
resembles
a
rounded
bottom
pattern,
which
often
acts
as
a
reversal
structure
in
technical
analysis.
This
pattern
suggests
strong
buyer
confidence. 

Currently,
the
price
of
Solana
is
trading
above
the
$210
resistance
zone,
which
has
now
turned
into
a
support
level,
according
to
data
from


GeckoTerminal.
A
higher-high
formation
in
the
short
term
further
reinforces
the
bullish
trend.

The
50-day
Simple
Moving
Average
(SMA)
is
at
$191.39,
and
the
200-day
SMA
is
at
$198.63.
The
price
is
significantly
above
both,
indicating
strong
bullish
momentum.

Meanwhile,
the
Relative
Strength
Index
(RSI)
is
at
67.70,
just
below
the
overbought
zone
of
70.
This
indicates
strong
momentum
but
also
suggests
a
possible
consolidation
or
minor
retracement
before
the
next
leg
up.

The
Moving
Average
Convergence
Divergence
(MACD)
line
(6.39)
is
above
the
signal
line
(4.68),
reflecting
bullish
momentum.
The
histogram
is
positive,
indicating
continued
upward
pressure.

Can
SOL
Reach
$250
Next?

Based
on
the
analysis
of
the
chart
and
indicators,
the
Solana
price
appears
poised
to
continue
its
upward
trend. 

The
immediate
support
level
is
at
$198.63
(200-day
SMA),
and
the
next
significant
resistance
zone
and
major
target
is
around
$250,
which
aligns
with
previous
key
price
levels.

Conversely,
any
bearish
reversal
would
likely
find
support
at
the
$200
level,
backed
by
the
200-day
SMA
and
strong
buying
interest
in
this
range.

As
SOL
pumps,
investors
continue
buying
a
new
layer
2
Solana
meme
coin
called


Solaxy
(SOLX).
According
to
99Bitcoins,
a
popular
crypto
YouTube
channel
with
over
721K
subscribers,
SOLX
has
the
potential
to
soar
100X
post-launch.

Solaxy
Meme
Coin
Presale
Charges
Towards
$11
Million

Solaxy
is
an
emerging
cryptocurrency
project
that
has
already
raised
$10.8
million
in
presale.

The
project
is
centered
on
advancing
Layer
2
technology
to
improve
the
Solana
blockchain
by
addressing
transaction
holdups
through
the
implementation
of
roll-up
technology.

Solaxy
aims
to
deliver
faster,
smoother,
and
more
cost-effective
transactions,
appealing
to
users
across
the
Ethereum
and
Solana
ecosystems. 

The
project
has
captured
attention
due
to
its
strong
visual
branding
and
market
appeal,
and
many
analysts
recognize
its
potential
to
mitigate
congestion
and
failed
transactions
on
Solana.

????
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

Solaxy’s
solution
relies
on
three
key
features:
off-chain
processing
to
handle
the
heavy
work,
transaction
bundling
to
cut
costs,
and
secure
settlement
back
on
the
main
Solana
chain.

Solaxy
also
offers
holders
who
stake
their
SOLX
tokens
a
huge
annual
yield
of
326%.
Over
3.5
billion
SOLX
have
been
staked
so
far.

Investors
interested
in
participating
in
the
presale
can
visit
the
official
Solaxy
website
to
buy
SOLX
tokens
for
$0.001602
each
using
BNB,
ETH,
USDT,
or
a
bank
card.

Buy
before
a
price
hike
in
about
3
hours
to
secure
the
best
deal.

Visit
the
SOLX
website
here.

Related
News