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The Solana price jumped 5% in the past 24 hours to trade at $171.80 as of 10:01 p.m. EST on trading volume that surged 16% to $8.5 billion.
The pump helped make SOL the No. 1 trending crypto on CoinMarketCap, with the blockchain’s fully diluted valuation surging past $100 billion.
Solana Price Gears Up For A Bullish Trend Continuation
The SOL price is currently showing a strong bullish momentum after breaking out of a prolonged consolidation phase.
The Solana price action has formed a rounded bottom, which typically signals accumulation and a shift in market sentiment from bearish to bullish. This rounded recovery closed in a breakout above a key horizontal resistance zone around $143.50, an area that had previously acted as a ceiling during multiple failed rally attempts.
SOL is now trading at approximately $171.80, above the former resistance zone, which may now act as support in the event of a pullback.
Meanwhile, the 50-day Simple Moving Average (SMA), currently at $169.86, has been reclaimed with strength, indicating a shift in short- to mid-term momentum.
The 200-day SMA, which stands at $140.29, remains well below the current price of Solana. This separation between SOL and the long-term average confirms a bullish market structure.
Moreover, the Relative Strength Index (RSI) is sitting at 59.36, reflecting growing buyer strength without nearing overbought conditions. This suggests that there is still room for upward price movement before the asset becomes overbought.
SOL/USDT Chart Analysis (Tradingview)
SOL Price Hints At A 15% Surge
With a confirmed breakout from the rounded bottom pattern, support above the 50- and 200-day SMAs, and bullish RSI conditions, the technical structure suggests that the Solana price could climb toward the $199 area in the coming weeks, a 15% surge from the current price.
Conversely, in case of a pullback, the price of SOL could undergo a brief retest of the breakout zone around $143.50.
As the Solana price surges, YouTube channel 99Bitcoins, with more than 724k subscribers, says the Solana Layer-2 presale Solaxy (SOLX) may surge 100x after launch.
Solaxy Presale Closes On $35 Million – Next 100X Crypto?
While the Solana blockchain has built a strong reputation for its high-speed transactions and low fees, it has also encountered persistent challenges, including network congestion and occasional downtime.
Solaxy (SOLX) is designed to fix these issues and enhance Solana’s performance and scalability.
The project is a Layer-2 protocol built on Solana, designed to enhance scalability by processing transactions off-chain before committing them to the main network. This structure makes it particularly well-suited for DeFi, NFT, and GameFi applications that demand high transaction throughput.
By doing this, Solaxy reduces the strain on Solana’s mainnet.
It's perfectly okay to think about $SOLX at night…
We won't tell 😉🔥https://t.co/mdaTX9aVVx pic.twitter.com/AZcIvfpiS6
— SOLAXY (@SOLAXYTOKEN) April 22, 2025
The project’s staking program also offers token holders a huge 117% annual yield. Investors have backed the project with $34.2 million in funding, making it one of the most successful presales of the year.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.00172 each using BNB, ETH, USDT, or a bank card.
Buy before a price hike in a little more than 1 day to secure the best deal.
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