Solana Worth Skyrockets 19% – Is This SOL Layer 2 Subsequent To Pump?

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Solana Worth On A Sustained Surge SOL Worth Prediction – Is $300 Subsequent?Solaxy Presale Races Towards $12 Million Associated Articles

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The Solana worth skyrocketed 19% previously 24 hours to commerce at $255.13 as of 08:51 p.m. EST on buying and selling quantity that soared 372% to $26.9 billion, in response to CoinGecko.

Solana is reaping the rewards of being the house for Donald Trump’s official meme coin, $TRUMP, which exploded ofter yesterday. The worth of Solana (SOL) surged to a brand new all-time excessive (ATH) on the $263.27 mark, in response to CoinGecko.

Solana Worth On A Sustained Surge

The SOL worth has been following a definite bullish trajectory on the 4-hour chart. After forming a parabolic curve sample in mid-January, the Solana worth has seen a steep rise, surging previous main shifting averages and reaching highs of $263 earlier than barely retracing to the present degree of $255.13.

The parabolic curve signifies a powerful momentum-driven rally, which is commonly indicative of aggressive shopping for stress. This uptrend was fueled by a break above the 200-day Easy Transferring Common (SMA) and the 50-day SMA, each of which at the moment are performing as dynamic help ranges. The shifting averages additionally display a “golden cross” formation at $199.7, the place the 50-day SMA crossed above the 200-day SMA—a historically bullish sign.

The Relative Power Index (RSI) is at 76.71, inserting it firmly in overbought territory (above 70). This implies that the value of Solana rally has been sturdy however could also be approaching exhaustion. Overbought circumstances usually precede corrections, though sturdy developments can maintain the RSI elevated for extended intervals.

In the meantime, the Transferring Common Convergence Divergence (MACD) line is at 15.62, considerably above the sign line at 11.65, confirming sturdy bullish momentum.

SOL/USDT Chart Evaluation (Supply: Tradingview)

SOL Worth Prediction – Is $300 Subsequent?

Within the quick time period, the Solana worth is more likely to face resistance close to the $270-$275 zone, the place the value has stalled lately. A break above this degree may propel it towards $300, a psychological resistance degree.

Nevertheless, the overbought RSI and the steep parabolic curve enhance the chance of a retracement earlier than additional upside. A correction may see the value of SOL retest the $220-$230 vary, which coincides with the current breakout zone and aligns with the 50-day SMA help. If promoting stress intensifies, the 200-day SMA close to $200 can be the subsequent vital help to look at.

As traders pile into SOL, they’re additionally snapping up a brand new different referred to as Solaxy (SOLX), which 99Bitcoins, a preferred crypto channel on YouTube with over 721K subscribers, says would possibly soar 100x after launch.

Solaxy Presale Races Towards $12 Million

The Solaxy presale continues to garner important consideration within the meme coin sector because it surges previous $11.5 million in early funding.

Solana’s speedy development has prompted slowdowns, particularly throughout busy intervals of meme coin buying and selling and NFT drops.

Solaxy goals to unravel Solana’s congestion issues with options like transaction bundling and off-chain processing, bettering Solana’s effectivity with out slowing it down.

Though Solaxy is constructed to work with Solana, the mission will first launch on Ethereum. The group is growing a bridge between the 2 blockchain networks to attach them.

🚨 Solaxy is now reside in Upcoming Tokens! 🚨@SOLAXYTOKEN provides holders a possibility to affix the first-ever Solana Layer 2 blockchain.
Solaxy is ready to reinforce blockchain innovation via limiting congestion, decreasing failed transactions, and bettering scalability on SOL.… pic.twitter.com/satNF6zFNF
— Greatest Pockets (@BestWalletHQ) December 17, 2024

By shopping for and holding SOLX, customers may earn passively via the platform’s staking mechanism, which affords a sky-high annual yield of 313%.

Buyers concerned with taking part within the presale can go to the official Solaxy web site to purchase SOLX tokens on the present worth of $0.001606 every utilizing BNB, ETH, USDT, or a financial institution card.

Purchase earlier than a worth hike in lower than 2 days to safe the most effective deal.

Go to SOLX right here.