SPX6900 Price Prediction: SPX Leads Gainers On CoinMarketCap With 14% Surge, But Traders Flock To The Solaxy Presale With Time Running Out

The SPX6900 price soared 14% in the past 24 hours to trade at $1.09 as of 10:14 p.m. EST as investors rush to buy the altcoin.

With the recent gain posted by the SPX price, the crypto has emerged as the top 24-hour performer on CoinMarketCap.

SPX6900 Price Trades In A Bullish Channel, How High Can It Go?

Daily chart for SPX/USD (Source: GeckoTerminal)

The SPX6900 price has printed multiple higher highs and higher lows over the past 2 weeks, resulting in the formation of a medium-term ascending price channel, GeckoTerminal data shows. Should the crypto continue to trade in this range, it might soon flip the resistance level at $1.1262 into support. Thereafter, SPX could end up rising to as high as $1.3558.

However, a sudden change in the broader market’s trend could lead to a test of the nearest support level at $0.8657, which is also confluent with the lower boundary of the rising channel. A drop below this point might then push the SPX6900 price into a bearish trend, which could result in a plunge to as low as $0.6361 if bears manage to overwhelm bulls.

Bulls Might Continue To Push The SPX6900 Price Up Higher

Looking at technical indicators on the daily chart, a bullish scenario seems more likely to play out in the short term. More specifically, both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing positive signs.

In the last 24 hours, the MACD line has started to break away above the MACD Signal line. This could be seen as an indication of renewed bullish momentum, which could push the SPX6900 price up higher.

Meanwhile, RSI readings have risen over the past few days, signaling increasing buyer strength. What’s more, the upward slope of the RSI suggests bulls are still accumulating strength against their rivals. 

Traders will just want to keep an eye on the RSI, because it warns SPX might be in overbought territory. This could result in a pullback or correction. However, the bullish momentum shown by the MACD suggests any drop in the SPX6900 price at this stage might be a brief pullback before another leg up.

While the SPX6900 price tries to keep its bullish momentum going, investors are also piling into the presale for Solaxy (SOLX) that will end in around 18 days. Popular YouTube channel 99Bitcoins, which has over 723K subscribers, says SOLX has the potential to soar 10X after its launch.

Solana About To Get Its Biggest Scaling Upgrade Yet

Solaxy is the first layer-2 scaling solution for the Solana blockchain, which has started experiencing high levels of congestion. During peak traffic times, users have even started experiencing delayed, and sometimes even failed, transactions on the blockchain. If something does not change soon, there might be another Solana blockchain outage in the near future.

Solaxy addresses Solana’s high levels of congestion by shifting the network’s transaction processing workload off of the mainnet. On its own sidechain, Solaxy processes and bundles transactions, before submitting them to the Solana network for final validation. This is an approach successfully implemented by other layer-2 solutions like Arbitrum and Optimism.

In addition to scaling Solana, Solaxy also bridges the network with the Ethereum blockchain. This connection between two of the most prominent blockchains in the crypto space gives developers a platform to build the next big innovation in the Web3 space without having to worry about the scalability, security or liquidity issues of the past.

Solaxy’s team has been hard at work developing their solution, and has already rolled out several products even while SOLX’s presale is still ongoing. These solutions include the Solaxy testnet and its blockchain explorer, the Solaxy bridge on the testnet, as well as a token terminal that allows developers to deploy tokens on the Solaxy chain. 

Solaxy’s Presale Goes Parabolic With Under 3 Weeks Left Until SOLX’s Launch

Solaxy has managed to raise an impressive $41.8 million through its presale so far, signaling strong investor confidence in the project’s future. Whales have also recently started to buy into the presale. With under 3 weeks left until the token’s highly-anticipated launch, time is running out for investors to get in at this ground level of the project.

Interested investors can acquire SOLX for $0.001738 apiece via the simple buy widget embedded on the project’s website using either crypto or bank card. Once bought, the tokens can also be staked for a 96% APY.

Anyone looking to buy will want to do so before the presale ends in about 18 days.

Visit the Solaxy website.

Related Articles:

• Trump CFTC Chair Pick Brian Quintenz Reveals Crypto Ties Amid Staff Exodus
• Trump Media Denies $3B Plan To Buy Bitcoin, Calls FT Report “Dumb”
• North Korea Gang Test NFTs For Illegal Foreign Trades

Best Wallet - Diversify Your Crypto Portfolio

Our Rating

• Easy to Use, Feature-Driven Crypto Wallet
• Get Early Access to Upcoming Token ICOs
• Multi-Chain, Multi-Wallet, Non-Custodial
• Now On App Store, Google Play
• Stake To Earn Native Token $BEST
• 250,000+ Monthly Active Users

Download Now