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The XYO price has soared 31% in the last 24 hours to trade at $0.0233 as of 7 a.m. EST on a 417% pump in trading volume to $40 million.
The surge in the XYO price comes after the project announced the hiring of Sky Wee as a strategic advisor. A Forbes Business Council member and Binance influencer, Wee brings extensive expertise as a managing partner at Elevate Ventures, ATF Capital, and Sky Ventures.
Big news: XYO welcomes Sky Wee (@OfficialSkyWee1) as a Strategic Advisor!
Read how he’s helping launch XYO Layer One in Q1 2025 👉https://t.co/4muLcLU6sB
As a Forbes Business Council Member, Official Binance Influencer, Managing Partner at Elevate Ventures, ATF Capital & Sky… pic.twitter.com/W78S4MJl25
— XYO (@OfficialXYO) February 6, 2025
His addition to the XYO advisory team comes ahead of the highly anticipated Q1 2025 launch of XYO Layer One, the project’s Layer-1 blockchain network.
Designed with multichain support, XYO Layer One will serve as the core infrastructure for the XYO ecosystem, facilitating applications in AI models, blockchain tools, and real-world asset management.
XYO Price Blasts Above The Bearish Channel
The XYO/USD trading pair on the 1-day timeframe shows strong bullish momentum after breaking out of a prolonged bearish channel, signaling a potential trend reversal. XYO is currently trading at $0.02335, reflecting a 10.27% gain, and is now testing key resistance levels that could determine its next move.
This surge follows a period of consolidation after its parabolic price increase in December, where XYO rallied significantly before entering a correction phase. The formation of a rounding bottom pattern suggests a bullish continuation, potentially pushing prices toward the $0.03 – $0.04 range if buying pressure sustains.
XYOUSD Analysis Source: Dextools.io
A critical indicator supporting this move is the 50-day simple moving average (SMA) at $0.0189, a strong dynamic support level. Historically, when price action stays above this moving average, it often signals the beginning of a new uptrend. XYO has successfully bounced off this support, reinforcing the bullish outlook. If the price remains above this level, it could serve as a launchpad for further gains, whereas a breakdown below this threshold might invalidate the bullish setup.
XYO Price Bullish Indicators Signal Another Bullish Rally
Momentum indicators also confirm growing bullish strength. The MACD (Moving Average Convergence Divergence) line at 0.00054701 crosses above the signal line at 0.00044868, forming a bullish crossover. This indicates increasing buying momentum, and if this trend continues, it could fuel additional upside movement.
The Relative Strength Index (RSI) at 61.84 suggests increasing buying pressure but remains below the overbought threshold of 70. This leaves room for further price appreciation before any potential correction.
For XYO to sustain its bullish trajectory, it must break above the immediate resistance at $0.025. A successful breakout above this level could trigger a rally toward $0.03 and potentially $0.04, where the next major resistance zones lie. If XYO faces rejection at these levels, it could pull back toward the 50-day MA at $0.0189 or lower support at $0.0175, where buyers may step in again.
The First Layer 2 Project On Solana Zooms Past $18.5 Million in Presale
As the XYO price maintains its bullish momentum, so Solana layer 2 presale Solaxy (SOLX) has surged past $18.5 million in funding.
The Solana network is under heavy computational strain due to the rising demand for SOL-based meme coins, fueling speculation about a 2025 meme coin super cycle. However, if congestion issues persist, Solana may not be able to meet surging demand.
The benefits of Solaxy can really bring a tear to your eye…$SOLX hits hard! 🛸🪐 pic.twitter.com/yqIjimnys9
— SOLAXY Help Team 𝕏 (@SOLAXYTOKEN_HT) February 7, 2025
Enter, Solaxy. It aims to alleviate the problem via its Layer 2 sidechain, designed to offload computational demands from the main Solana network.
By processing transactions off-chain, bundling them, and submitting them to Solana’s Layer-1 for validation, Solaxy reduces congestion, lowers transaction fees, and increases network throughput. This efficiency boost makes it a promising solution for scaling Solana while maintaining speed and affordability.
Investor interest in SOLX is also driven by its staking program, which currently offers a huge 218% annual return.
Popular crypto YouTube channel 99Bitcoins, which boasts over 724K subscribers, has predicted that SOLX could surge 100X post-launch.
Currently priced at $0.001628, SOLX can be purchased via the buy widget on the project’s website using crypto or a bank card.
Interested investors should buy before a price hike in less than 2 days.
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