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The Solana price is up more than 19% on the weekly timeframe after a 2% 24-hour gain to trade at $135.48 as of 10:12 p.m. EST as traders go long on the crypto.
The recent gains registered by the SOL price were enough to push the altcoin’s monthly performance back into the green as well. As a result, the crypto is up more than 8% over the past 30 days.
Solana Price Breaches Resistance
4-hour chart for SOL/USD (Source: GeckoTerminal)
The Solana price has broken the resistance at $132.83 in the last couple of hours, data from GeckoTerminal shows. If the altcoin continues to rise in the short term, SOL might end up climbing to as high as the next major barrier at $147.80.
However, a sudden selloff or change in market conditions could push SOL down to back below the $132.83 mark and invalidate the bullish thesis. In this more bearish scenario, the Solana price might end up dropping to $118.15. Thereafter, continued pressure from sellers could lead to a plunge to as low as $106.85.
Technicals Suggest The Solana Price Might Continue Rising
From a technical standpoint, indicators on SOL’s 4-hour chart suggest the Solana price might climb in the next few hours. Traders will want to keep an eye on the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators, which are currently both flashing bullish.
In the last 24 hours, the MACD line crossed above the MACD Signal line. Traders might see this as a confirmation that SOL has entered a positive short-term trend. The gap between the two lines has started to grow in recent hours as well, which could suggest SOL’s bullish momentum is gradually growing stronger.
RSI readings have also risen in the last few hours, a sign of increasing buyer strength. What’s more, the current RSI reading suggests that buyers have the upper hand over sellers. The latest value also indicates that there is still room for the Solana price to climb before it enters overbought territory.
As the Solana price tries to keep climbing, investors are also buying new SOL layer-2 presale token Solaxy (SOLX).
Several experts have stepped forward to share their bullish predictions for the crypto. Among them is influential YouTube channel 99Bitcoins, which has over 725K subscribers and predicts SOLX could print 100X gains for investors after launch.
Solana About To Get A Much-Needed Upgrade
Solana was marketed as a faster and more cost-efficient alternative to Ethereum when it was launched. In the years that followed the blockchain’s debut, the layer-1 built a reputation as one of the Ethereum killers.
However, the recent hype around SOL-based meme coins has led to high levels of congestion on Solana, which has resulted in slower processing times, higher network fees, and oftentimes delayed or even failed transactions. Solaxy aims to fix this.
As the first layer-2 scaling solution for the SOL ecosystem, Solaxy will increase the overall efficiency of the Solana network. One of the ways it does this is by processing SOL transactions off of the Solana mainnet, bundling them, and then sending the batches of transactions to the layer-1 network for final validation and record keeping.
Solaxy’s approach to transaction processing is similar to that used by Arbitrum and Optimism within the Ethereum ecosystem, and has been proven as a successful way to increase the overall efficiency of a layer-1 network.
Solaxy will also create a new platform that can cater to the growing demands of meme coin and decentralized application developers by bridging the Ethereum and Solana blockchains. This new Web3 platform will combine Ethereum’s robust security framework and growing DeFi landscape with Solana’s high speeds and low fees.
Solaxy Presale Goes Parabolic As Investors Rush To Buy
Solaxy is well on track to post one of the best presale performances of 2025, and has already raised more than $30.5 million through its ongoing ICO.
In addition to the bullish predictions by experts like 99Bitcoins and the fact that the project is the first Solana layer-2 solution, there is also a 133% staking APY that might be the reason investors are rushing to buy at this early stage.
Interested investors can buy SOLX for $0.001698 apiece via the simple widget embedded on the project’s website using either crypto or bank card. After buying some SOLX, investors can then head over to the staking page to put their tokens to work and start earning the high passive crypto rewards.
Buyers looking to secure the best deal will want to act fast, because SOLX’s price will increase as its presale progresses. The next price hike will come into effect in under 29 hours.
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