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The Solana price pumped 7% in the past 24 hours to trade at $162.12 as of 1:12 a.m. EST on trading volume that surged 32% to $7.1 billion.
Solana Price Breakout Signals A 19% Surge
The SOL price has recently broken out of a consolidation range, pushing past resistance near $156 with strong bullish momentum.
This breakout follows a steady climb from the $96.59 low in mid-March.
The consolidation box between approximately $142 and $156 acted as an accumulation zone before this breakout, as GeckoTerminal data shows.
The Solana price chart also displays a bullish flag or continuation pattern, supported by a recent breakout candle that targets higher levels.
Meanwhile, the Relative Strength Index (RSI) is currently at 67.39, indicating strong bullish momentum but place SOL just below overbought territory, suggesting there may still be room for the altcoin to climb.
The Moving Average Convergence Divergence (MACD) is also in a bullish posture, with the blue MACD line (5.68) above the orange signal line (4.82) and histogram bars turning positive.
Moreover, the price of Solana is now trading above both the 50-day Simple Moving Average (SMA) ($135.13) and is approaching the 200-day SMA ($181.02), which further reinforces the positive trend.
With bullish continuation confirmed and indicators supporting further upside, SOL is likely to target the next major resistance at the 200-day SMA around $181. A move to this level could lead to a 19% increase for SOL to the $193 resistance zone if the bullish pressure persists.
Conversely, the $150 price point within the consolidation level acts as a cushion against downward pressure in case of a pullback.
Meanwhile, investors are also buying into a Layer-2 Solana project called Solaxy (SOLX), which popular YouTube channel 99Bitcoins, with over 725K subscribers, says has the potential to soar 100X post-launch.
Solaxy Presale Closes On $34 Million – Next 100X Crypto?
Solana already boasts significantly lower fees compared to Ethereum, and now, with the development of its first-ever layer-2 (L2) chain, it’s poised to slash costs even further.
That is thanks to Solaxy, a new L2 that offloads computation from the Solana mainnet, easing congestion and reducing on-chain demand.
Solaxy is still in development, but it has already raised $33.8 million in its presale, a sign of strong investor confidence in the Solana-native scaling project.
The project’s latest enhancements include an improved transactions per second (TPS) rate, enhanced data throughput, and optimized rollup performance, all key steps as Solaxy gears up to elevate Solana’s efficiency.
The team recently announced the launch of a test network and a block explorer as well, showing the project is moving ahead at warp speed.
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
Its ambitions don’t stop there. Built with cross-chain technology, Solaxy also merges the best of Solana and Ethereum.
The offers holders who stake SOLX a huge annual yield of 119% as well.
Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001718 each using BNB, ETH, USDT, or a bank card.
Anyone looking to buy SOLX will want to do so before the next price hike in a little more than 8 hours.
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