{"id":618918,"date":"2025-01-17T10:21:42","date_gmt":"2025-01-17T10:21:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=618918"},"modified":"2025-01-17T10:21:42","modified_gmt":"2025-01-17T10:21:42","slug":"solana-price-prediction-sol-pumps-11-in-a-week-as-this-new-layer-2-meme-coin-presale-charges-towards-11-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/solana-price-prediction-sol-pumps-11-in-a-week-as-this-new-layer-2-meme-coin-presale-charges-towards-11-million","title":{"rendered":"Solana Price Prediction: SOL Pumps 5% As This New Layer-2 Meme Coin Presale Charges Toward $11 Million"},"content":{"rendered":"

The Solana price pumped 11% in the last week and 5% in the past 24 hours to trade at $211.23 as of 11:18 p.m. EST on trading volume that rose 43% to $7.1 billion.<\/span><\/p>\n

Solana Price On A Bullish Trend Reversal<\/h2>\n

The <\/span>SOL price<\/span><\/a> analysis is showing strong bullish momentum in the 4-hour timeframe. The Solana price has broken out of a consolidation phase with significant upward movement.<\/span><\/p>\n

SOL’s recent movement resembles a rounded bottom pattern, which often acts as a reversal structure in technical analysis. This pattern suggests strong buyer confidence. <\/span><\/p>\n

Currently, the price of Solana is trading above the $210 resistance zone, which has now turned into a support level, according to data from <\/span>GeckoTerminal<\/span><\/a>. A higher-high formation in the short term further reinforces the bullish trend.<\/span><\/p>\n

The 50-day Simple Moving Average (SMA) is at $191.39, and the 200-day SMA is at $198.63. The price is significantly above both, indicating strong bullish momentum.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is at 67.70, just below the overbought zone of 70. This indicates strong momentum but also suggests a possible consolidation or minor retracement before the next leg up.<\/span><\/p>\n

The Moving Average Convergence Divergence (MACD) line (6.39) is above the signal line (4.68), reflecting bullish momentum. The histogram is positive, indicating continued upward pressure.<\/span><\/p>\n

\"Solana
SOL\/USD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Can SOL Reach $250 Next?<\/h2>\n

Based on the analysis of the chart and indicators, the Solana price appears poised to continue its upward trend. <\/span><\/p>\n

The immediate support level is at $198.63 (200-day SMA), and the next significant resistance zone and major target is around $250, which aligns with previous key price levels.<\/span><\/p>\n

Conversely, any bearish reversal would likely find support at the $200 level, backed by the 200-day SMA and strong buying interest in this range.<\/span><\/p>\n

As SOL pumps, investors continue buying a new layer 2 Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>. According to 99Bitcoins, a popular crypto YouTube channel with over 721K subscribers, SOLX has the potential to soar 100X post-launch.<\/span><\/p>\n