Solana Price Prediction: As Cboe Seeks Approval For Fidelity’s SOL ETF And BlackRock’s BUIDL Expands To Solana, Experts Say This New Crypto Might Soar 100X

The Solana price rose over 2% in the last 24 hours to trade at $142.91 as of 9:40 p.m. EST as investors start to accumulate the altcoin.

This climb by the SOL price comes after US-based securities exchange Cboe BZX Exchange requested permission to list a proposed Fidelity ETF (exchange-traded fund) and as BlackRock’s BUIDL expands to Solana.

Solana Price Attempting To Flip Resistance

Daily chart for SOL/USD (Source: GeckoTerminal)

The Solana price is trying to break above a resistance level at $141.77, according to data from GeckoTerminal. Should the altcoin close a daily candle above this technical obstacle within the next 48 hours, it might have the foundation needed to keep rising in the short term. 

SOL could then try to flip the $168.04 resistance into support before potentially rising to as high as $191.29. However, a rejection from the $141.77 mark might invalidate the bullish thesis.

In a more bearish scenario, traders might start to exert sell pressure on the Solana price and push it down to the closest support at $116.40.

Solana Price Might Continue Rising As Technicals Flash Bullish

From a technical standpoint, indicators on the daily chart, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), suggest the Solana price might keep rising.

In the past week, the MACD line has crossed above the MACD Signal line. This specific technical event is often interpreted as a buy signal and seen as an indication that a crypto has entered a positive trend. This seems to be the case in this instance, given the recent climb by SOL. 

With the MACD line starting to break away above the MACD Signal line, it seems Solana’s bullish momentum is picking up steam. This could push the Solana price up higher in the next few days if traders continue buying the altcoin.

Bulls also seem to be growing stronger against bears, as evident by the rising RSI values seen in the last couple of days. Over the past 24 hours, the RSI crossed above 50 as well, signaling that buyers have gained an upper hand against sellers.

While the Solana price tries to overcome resistance, investors continue to flock to new SOL layer-2 project Solaxy (SOLX) for gains. 99Bitcoins, an influential YouTube channel that boasts over 725K subscribers, says SOLX could 100X post-launch.

The First Scaling Solution For Solana

Solana has become highly congested in recent months due to the hype around SOL-based meme coins that has even led to US President Donald Trump launching his own token on the blockchain. 

As developers continue to launch new meme coins on a daily basis in an attempt to profit from the hype, the Solana network is at risk of suffering another outage if something does not change soon.

This is where Solaxy, the first layer-2 scaling solution for Solana, comes in. Using a proven technology called rollups, the project will process and bundle transactions off of the Solana mainnet and on its own chain. After batching the transactions, it will send them to the Solana blockchain for final validation.

This approach to transaction processing is similar to the one used by Arbitrum and Optimism within the Ethereum ecosystem. 

Once Solaxy has successfully connected to the Solana network, it will bridge Solana with the Ethereum blockchain to create a new super Web3 infrastructure. This move will combine Ethereum’s robust security framework and growing DeFi ecosystem with Solana’s high speeds and low fees. 

SOLX will then be positioned as a primary transaction layer between two of the most prominent blockchains in the crypto space as well.

Solaxy Presale Goes Parabolic – Closes On $28 Million

Solaxy is pulling investors in at a rapid pace during its presale stage. So far, investors have already invested more than $27.9 million into the project’s ongoing ICO, signaling strong market demand for what the project has to offer.

This buying frenzy will most likely continue given the attractive presale staking program on offer. Anyone who buys and locks up SOLX tokens at this early stage will gain access to a 146% APY.

Interested investors can acquire SOLX via the buy widget embedded on the project’s website using either crypto or bank card. 

Once purchased, investors can then head to the staking page on the website to put their tokens to work for the passive crypto income. 

Selling for $0.001674, investors who want to get in on the best presale rate will want to act fast before the next presale price increase in less than 16 hours.

Visit the Solaxy website.

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