Solana Price Prediction: As SOL Rises 1%, Experts Say Consider This $32.1M Layer-2 Presale Token For 100X Gains

The Solana price rose over 1% in the last 24 hours to trade at $147.45 as of 10:14 p.m. EST as investors slowly start to accumulate the altcoin.

With the recent uptick, the SOL price is now up more than 6% on the longer-term weekly time frame.

Solana Price Falls Out Of A Bullish Channel

Daily chart for SOL/USD (Source: GeckoTerminal)

The Solana price has fallen out of a short-term ascending channel that formed on its charts in the last 24 hours, data from GeckoTerminal shows. As a result, the altcoin risks testing the nearest support level at $141.92. Should SOL fall below this technical safety net, it might plummet to as low as $133.15 in the short term.

However, traders identifying the crypto’s current levels as a buy opportunity could lead to a more bullish scenario playing out. In this alternative case, the Solana price might try to flip the resistance at $153.18 into support. Thereafter, continued pressure from buyers could lead to a rise to as high as $165.28.

Bears Could Take Control Of The Solana Price Soon

Technicals on the daily chart suggest the Solana price might drop in the next 24 hours, with both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) showing early bearish signs.

In the last 48 hours, the MACD line has started to drop towards the MACD Signal line. This suggests SOL’s bullish momentum is starting to cool off, and could lead to a bearish trend reversal if the gap between the two technical indicators continues to shrink.

Meanwhile, RSI readings have dropped from the high to low 60s in the last 48 hours as well. This supports the weakening bullish momentum warning from the MACD, and suggests buyer power has dropped as well. 

With the weakening bullish momentum and drop in buyer power, bears have the opportunity to take control of the Solana price. Should they act on this signal, SOL could soon test the aforementioned support level at $141.92.

While SOL technicals warn of an upcoming retracement, investors are piling into the presale for new Solana token Solaxy (SOLX).

Several experts have stepped forward to share their bullish predictions for SOLX. Among them is an analyst at the 99Bitcoins YouTube channel. In a recent video to the channel’s over 725K subscribers, the analyst said SOLX has the potential to soar 100X after its launch.

Layer-2 Technology Could Elevate Solana To New Heights

Solana, which was initially launched as a cheaper and faster alternative to the clunky Ethereum network, has become severely congested. This is partly due to the recent hype around SOL-based meme coins, as developers looked to capitalize on the trend with Solana’s low fees and quick processing times. Even President Donald Trump launched a SOL meme coin.

If something does not change soon, Solana could suffer another outage. Some users have already started experiencing delayed, and sometimes even failed, transactions. This is where Solaxy comes in.

The project will process and bundle SOL transactions off of the mainnet and only call on the Solana layer-1 chain for final validation. It does this using layer-2 technologies called rollups, which have already helped the Ethereum network scale to new heights through solutions like Arbitrum and Optimism.

Solaxy will also bridge the Ethereum and Solana blockchains. This will combine the prior’s deep liquidity and thriving DeFi ecosystem with the latter’s high speeds and low fees to create a platform capable of meeting the growing needs of decentralized app and meme coin developers.

Solaxy’s team aims to achieve 10,000 transactions per second (TPS), which will place the blockchain among Web3 powerhouses. So far, the team has already deployed their testnet and its associated blockchain explorer, proving that they are more than just talk.

Solaxy Presale Goes Parabolic

Solaxy is on track to post one of the best ICO performances of the year, and has already raised more than $32.1 million in early-stage funding. 

Interested investors can acquire SOLX through the simple buy widget embedded on the project’s website. Selling for $0.001708, SOLX can be bought with both crypto or bank card. Once purchased, the tokens can also be locked up in the project’s presale staking pool for a massive 125% APY.

Buyers that want to secure the best deal will want to act fast, because SOLX’s price will undergo a series of staged price increases. The next price hike will happen in around 14 hours.

Learn more about Solaxy.

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