{"id":618240,"date":"2025-01-15T03:35:12","date_gmt":"2025-01-15T03:35:12","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=618240"},"modified":"2025-01-15T03:35:12","modified_gmt":"2025-01-15T03:35:12","slug":"solana-price-prediction-sol-jumps-2-as-this-new-layer-2-crypto-presale-surpasses-10-3-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-jumps-2-as-this-new-layer-2-crypto-presale-surpasses-10-3-million","title":{"rendered":"Solana Price Prediction: SOL Jumps 2% As This New Layer-2 Crypto Presale Surpasses $10.3 Million"},"content":{"rendered":"

The Solana price jumped more than 2% in the last 24 hours to trade at $187.48 as of 9:59 p.m. EST as investors slowly start to buy into the altcoin again.<\/span><\/p>\n

Despite the recent uptick, the SOL price is still down more than 6% on the 7-day time frame.<\/span><\/p>\n

Solana Price Forms A Negative Channel On The Daily Chart<\/span><\/h2>\n

\"SOL<\/p>\n

Daily chart for SOL\/USD (Source: GeckoTerminal)<\/span><\/p>\n

A negative price channel has <\/span>formed<\/span><\/a> on the daily chart for the <\/span>Solana<\/span><\/a> price after the altcoin printed a series of lower lows and lower highs over the last couple of weeks. Should the crypto continue to trade within this negative range, it could soon test the immediate support level at $174.93. A break below this point might then lead to a plunge to as low as $158.13.<\/span><\/p>\n

This bearish thesis could be invalidated if the Solana price is able to break above the $194.41 resistance level, which is also confluent with the upper boundary of the bearish price channel. A daily candle close above this mark might then give SOL the room needed to keep rising in the following few days and potentially target the $222.62 barrier.<\/span><\/p>\n

Technicals Suggest The Solana Price Could Go Either Way<\/span><\/h2>\n

Technical indicators on SOL’s daily chart are leaning towards bearish, but suggest the crypto’s price could still go either way in the coming 48 hours. Mixed signals are being presented by both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI). <\/span><\/p>\n

RSI readings have started to level off below the neutral 50 mark in the last 48 hours. After dropping in the past few days, the RSI’s slope has turned neutral. This suggests that while there was an increase in seller power, bulls have started to chip away at bears’ strength. Should buyers enter SOL’s chart soon, they might be able to take back control of the <\/span>Solana<\/span><\/a> price.<\/span><\/p>\n

Meanwhile, the MACD line is currently positioned bearishly below the MACD Signal line. However, the low negative MACD Histogram readings coupled with the narrowing gap between the MACD and Signal lines could be a sign of weakening bearish momentum.<\/span><\/p>\n

While SOL tries to escape a bearish channel, investors continue to pour capital into the presale for Solana layer-2 crypto <\/span>Solaxy (SOLX)<\/span><\/a>, which is charging towards the $11 million milestone. According to 99Bitcoins, a popular YouTube channel with over 721K subscribers, SOLX has the potential to soar 100X after its official launch.<\/span><\/p>\n