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The Solana price has plunged 14% in the past week and over 2% in the last 24 hours to trade at $133.04 as of 12:53 a.m. EST on an 11% surge in daily trading volume to $4.7 billion.
Solana Price Risks Extended Losses As Bear Pressure Persists
The SOL/USD 6-hour chart shows Solana is bearish currently. The 200-period Simple Moving Average (SMA) at $160 has turned into a resistance wall, with SOL bouncing off it several times. Meanwhile, the 50 SMA at $147.97 is also acting as a shaky resistance level, having been breached several times in the past month.
The red arrows on the chart highlight a brutal rejection pattern, with the price smashing through the $143 mark (blue zone) and now eyeing a potential drop to $113.2. There is also a bearish parabolic arc, which is a classic sign of a trend reversal, signaling investors are bracing for impact.
Diving into the indicators, the Relative Strength Index (RSI) at 35.54 is flirting with oversold territory, hinting that selling pressure might cool off soon. However, if it dips below 30, there could be a quick bearish surge that could send the SOL price to $113.2 before a bounce-back rally.
SOLUSD Analysis Source: Tradingview
Meanwhile, the Moving Average Convergence Divergence (MACD) shows a bearish crossover on June 18, with the signal line slicing below the MACD line (blue).
That combo signals Solana is in sell-off mode. Nevertheless, the MACD histogram is narrowing, which could be a signal that the downtrend is losing steam.
Solana Price Might Continue The Downtrend
In the short term, SOL may test the $113.20 support level if the bears continue their campaign. A break below the current immediate support around $130 could drag it to the recent low of $126.12 or even $110.50, where bargain hunters might swoop in.
However, if bulls reclaim the $143 resistance (blue zone), the SOL price could see a rebound toward $160, especially if market sentiment flips, and the entire market turns green again. The $160-$165 zone will be a key point to watch. If buyers hold it, Solana will be back in a bullish trend.
In the long term, Solana’s fundamentals, such as its fast and cheap transactions, keep it a top contender. The recent dip, potentially facilitated by Bitcoin’s decline due to escalating tensions in the Middle East, may be a short-term correction, with the potential to recover to $200+ by the end of Q3 if the crypto market regains momentum.
Solaxy Presale Closes On $58M – Less Than 6 Hours Left
While the Solana price continues its downward trend, investors are FOMO buying Solaxy (SOLX), a red-hot presale that’s already raised over $57.8 million. The token now has less than 6 hours left before it lists.
SOLX will launch on exchanges today, June 23, with its mainnet going live in July. It’s one of the most talked-about launches this year.
Solana is known for its speed and low fees, but it can slow down or even crash when there’s too much traffic. Solaxy aims to fix this with its layer-2 network. It processes transactions off of Solana’s main chain, bundles them together, and sends them back for settlement, making the entire system faster, more stable, and more scalable.
It's. Almost. HERE. 🛸🪐
Solaxy goes LIVE in 24 hours. 🔥
Did you secure your bag? 👇https://t.co/mdaTX9aVVx pic.twitter.com/qhZgyGvbBI
— SOLAXY (@SOLAXYTOKEN) June 22, 2025
The Solaxy team is quickly rolling out its infrastructure. The testnet is already live, along with a blockchain explorer. A bridge to Ethereum is also live, allowing users to access deep liquidity from the Ethereum ecosystem while still benefiting from Solana’s low fees, a major advantage for DeFi, NFT, and gaming applications.
Another standout feature is Solaxy’s Igniter Protocol, a no-code launchpad that allows anyone holding SOLX to create their own tokens and trade them on Solaxy’s upcoming decentralized exchange. It functions similarly to Pump.fun, making token creation easy and accessible.
Last Chance To Grab SOLX Tokens At Presale Prices
Solaxy is gaining attention fast after burning 55 billion tokens to make SOLX more scarce before its exchange listing that is just hours away.
In just 12 hours, whales scooped up over $212K worth of the token. The largest single purchase was for $105,513.
That’s as a top crypto analyst from the 99Bitcoins YouTube channel, which has over 723K subscribers, says SOLX could grow 100 times after it launches soon.
Right now, SOLX tokens are still available at just $0.001766 each. Holders can also stake their SOLX tokens and earn a huge 74% yearly return, giving even more reason to get involved early. With the presale nearly sold out, this is your last chance to get in before the token lists.
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