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The Solana price pumped 3% in the past 24 hours to trade at $152.39 as of 4:24 a.m. EST on trading volume that surged 66% to $5.6 billion.
This uptick in the SOL price comes as Robinhood develops a blockchain-based platform that will allow retail investors in Europe to trade US securities such as stocks, which will be done by exploring tokenization through Solana and Arbitrum.
According to CEO Vlad Tenev, tokenized securities could boost US dominance in global markets.
Solana Price Aiming For Target Above $180
The SOL price has recently shifted its short-term momentum into a bullish phase, trading at $152.39 after a 3.69% daily gain.
Solana price action shows a strong bounce from the $97.15 low in early April, followed by a steady climb that broke above key Fibonacci retracement levels, as GeckoTerminal data shows.
Currently, the price of Solana is consolidating in a tight range just below the 0.786 Fib level near $153.33, indicating potential accumulation. The structure appears to be forming a bullish flag or pennant, often a continuation pattern suggesting further upside.
Meanwhile, the 50-day Simple Moving Average (SMA) at $134.19 has been successfully reclaimed and now acts as dynamic support, further reinforcing bullish sentiment. However, the 200-day SMA at $180.98 remains a key resistance to watch in the medium term.
The Relative Strength Index (RSI) is currently at 62.05, staying in bullish territory but not yet signaling overbought conditions, indicating there is still room for price appreciation.
SOL may aim to retest the $153-$155 resistance in the coming days. A breakout above this zone could propel the price of SOL toward the 200-day SMA around $181 and possibly higher toward the $188 level.
Conversely, failure to hold above $140 may result in a pullback toward the 50-day SMA at $134 for a retest of support.
Meanwhile, investors are flocking to buy a new Solana project called Solaxy (SOLX). Popular YouTube channel 99Bitcoins, with over 725K subscribers, says the crypto has the potential to soar 100X post-launch.
Solaxy Presale Heading Towards The $34 Million Mark – Next 100X Crypto?
Solaxy has successfully raised over $33.6 million in its token presale, and is positioned as the world’s first Solana layer-2 project.
Solana already processes thousands of transactions per second. Its real challenge isn’t low speeds or high gas fees, but rather managing growing waves of activity as the network scales.
Solaxy, a new crypto project in its presale phase, is poised to save and upgrade the Solana ecosystem amid congestion issues.
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
The project aims to address those issues by implementing off-chain processing mechanisms similar to Ethereum’s layer-2 solutions.
By processing transactions off of Solana’s main chain, bundling them together, and submitting them to the mainnet for final verification, Solaxy’s system enhances efficiency. Platforms like Arbitrum and Optimism have already proven this model successful.
Once launched, Solaxy will also provide a platform where developers can build decentralized applications or launch new tokens without compromising Solana’s layer-1 capabilities.
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.
Solaxy also offers holders who stake SOLX a huge annual yield of 119%.
Interested investors will want to buy SOLX before the next presale price hike in about 31 hours.
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