Solana Price Prediction: SOL Soars 9% In A Week As This New Layer-2 Crypto ICO Closes On $8 Million

The
Solana
price
has
surged
9%
in
the
past
week
and
4%
in
the
last
24
hours
to
trade
at
$206.90
as
of
10:05
p.m.
EST
as
investors
continue
to
accumulate
the
crypto.

In
the
past
day
of
trading,
the
SOL
price
managed
to
reach
a
24-hour
high
of
$209.07
after
dropping
to
a
low
of
$197.60.
It
has
since
retraced
to
trade
at
its
current
level. 

Solana
Price
Breaks
Out
Of
A
Consolidation
Range

4-hour
chart
for
SOL/USD
(Source:
GeckoTerminal)

The


Solana

price
was
able
to
break
out
of
a
medium-term
consolidation
channel
between
$183.62
and
$199.91
in
the
last
24
hours,
according
to
data
from


GeckoTerminal.
Now,
the
altcoin
is
slowly
approaching
the
major
resistance
level
at
$215.37.
Should
SOL
overcome
this
barrier
soon,
it
could
have
the
foundation
needed
to
keep
rising
in
the
following
few
days.

However,
a
rejection
from
the
$215.37
mark
or
the
crypto’s
momentum
starting
to
cool
off
could
lead
to
a
retest
of
the
recently-gained
$199.91
support.
A
break
below
this
new
technical
safety
net
might
then
lead
to
a
pull
back
to
the
aforementioned
$183.62
price
point,
while
an
extremely
bearish
scenario
could
lead
to
the
Solana
price
falling
all
the
way
down
to
$167.33.

Sellers
Slowly
Start
To
Chip
Away
At
Buyers’
Control
Over
The
Solana
Price

Bulls
seem
to
be
losing
some
of
their
control
over
the
Solana
price
from
a
technical
standpoint.
Indicators
on
the
crypto’s
4-hour
chart,
such
as
the
Moving
Average
Convergence
Divergence
(MACD)
and
the
Relative
Strength
Index
(RSI),
warn
a
correction
may
be
on
the
cards
for
the


crypto.

In
recent
hours,
RSI
readings
have
started
to
level
off
in
the
mid
60s
to
signal
bullish
strength.
However,
the
RSI
line
has
started
to
slope
negatively.
This
change
in
gradient
for
the
indicator
might
be
interpreted
as
an
early
warning
sign
that
buyers
are
starting
to
lose
their
grip
on
the
Solana
price.

SOL’s
bullish
momentum
has
also
started
taking
a
breather,
as
evidenced
by
the
MACD
indicator.
Recently,
the
MACD
line
has
started
to
collapse
towards
the
MACD
Signal
line. 

Should
the
margin
between
the
two
technical
indicators
continue
to
shrink,
the
lines
might
soon
intersect.
This
potential
technical
event
could
then
indicate
that
the
SOL
has
entered
a
short-term
bearish
cycle.

While
bulls
and
bears
battle
it
out
on
Solana’s
charts,
the
presale
for
a
new
layer-2
project
called


Solaxy
(SOLX)

is
rapidly
closing
on
$8
million.

The
First
Layer-2
Project
Focused
On
Solana

Ethereum
is
a
powerhouse
in
the
blockchain
space
due
to
its
first-mover
advantage
in
the
market.
Since
its
launch,
the
blockchain
has
become
the
host
to
the
majority
of
applications
in
the
Decentralized
Finance
(DeFi)
space.
This
popularity
has
led
to
scalability
challenges
for
the
network
in
recent
years,
which
ultimately
led
to
the
creation
of
layer-2
blockchain
projects.

Up
until
now,
the
layer-2
ecosystem
has
been
heavily
focused
on
Ethereum,
given
its
dominant
position
in
the
market.
However,
Ethereum-killer
Solana
is
quickly
gaining
traction,
especially
following
2024’s
meme
coin
hype
and
the
meme
coin
supercycle
anticipated
to
ensue
soon.

Solaxy
is
a
pioneer
in
the
fact
that
it
is
the
first
layer-2
project
that
is
focused
on
the
lightning-quick
Solana
network.
With
its
native
chain,
Solaxy
aims
to
position
itself
early
ahead
of
a
potential
surge
in
Solana
network
activity.

Not
only
does
the
project
alleviate
the
computational
stress
placed
on
the
Solana
network,
it
also
enables
much
faster
transaction
speeds
and
substantially
lower
fees.
Overall
this
should
make
Solana
a
more
attractive
blockchain
for
developers
and
investors,
which
will
indirectly
benefit
Solaxy.

In
addition
to
its
mission
to
scale
Solana,
Solaxy
also
aims
to
connect
Ethereum’s
robust
and
highly-liquid
DeFi
ecosystem
to
Solana’s
lightning-quick
and
cost-effective
infrastructure. 

With
its
native
SOLX
token
deployed
to
both
Ethereum
and
Solana,
Solaxy
is
poised
to
become
a
prominent
medium
for
value
transfer
between
two
of
the
biggest
blockchains
in
the
Web3
industry.

Investors
Rush
To
Buy
SOLX
During
Presale
As
Expert
Predicts
100X
Surge

Solaxy
is
pulling
investors
in
during
its
red-hot
presale
stage,
which
has
seen
the
project
already
raise
over
$7.9
million.
This
buying
frenzy
comes
as
an
analyst
from
the
99Bitcoins
YouTube
channel,
which
boasts
over
719K
subscribers,
predicts
that
SOLX
could
soar
100X
after
its
launch.

In
tandem
with
the
bullish
prediction
by
the
99Bitcoins
analyst,
there
is
also
a
lucrative
staking
opportunity
on
offer
to
presale
investors.
Anyone
who
buys
and
stakes
SOLX
now
will
unlock
access
to
a
451%
APY.

This
initiative
is
an
ideal
way
for
investors
to
passively
grow
their
crypto
bags
as
the
new
year
kicks
off.
With
a
price
hike
coming
in
about
7
hours,
buy
soon
to
secure
the
best
deal.

Buy
SOLX
here.

Related
Articles: