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The Solana worth skyrocketed 19% previously 24 hours to commerce at $255.13 as of 08:51 p.m. EST on buying and selling quantity that soared 372% to $26.9 billion, in line with CoinGecko.
Solana is reaping the rewards of being the house for Donald Trump’s official meme coin, $TRUMP, which exploded ofter yesterday. The value of Solana (SOL) surged to a brand new all-time excessive (ATH) on the $263.27 mark, in line with CoinGecko.
Solana Value On A Sustained Surge
The SOL worth has been following a definite bullish trajectory on the 4-hour chart. After forming a parabolic curve sample in mid-January, the Solana worth has seen a steep rise, surging previous main transferring averages and reaching highs of $263 earlier than barely retracing to the present stage of $255.13.
The parabolic curve signifies a robust momentum-driven rally, which is usually indicative of aggressive shopping for strain. This uptrend was fueled by a break above the 200-day Easy Shifting Common (SMA) and the 50-day SMA, each of which at the moment are appearing as dynamic assist ranges. The transferring averages additionally show a “golden cross” formation at $199.7, the place the 50-day SMA crossed above the 200-day SMA—a historically bullish sign.
The Relative Power Index (RSI) is at 76.71, inserting it firmly in overbought territory (above 70). This means that the worth of Solana rally has been robust however could also be approaching exhaustion. Overbought situations usually precede corrections, though robust tendencies can hold the RSI elevated for extended durations.
In the meantime, the Shifting Common Convergence Divergence (MACD) line is at 15.62, considerably above the sign line at 11.65, confirming robust bullish momentum.
SOL/USDT Chart Evaluation (Supply: Tradingview)
SOL Value Prediction – Is $300 Subsequent?
Within the quick time period, the Solana worth is prone to face resistance close to the $270-$275 zone, the place the worth has stalled not too long ago. A break above this stage might propel it towards $300, a psychological resistance stage.
Nevertheless, the overbought RSI and the steep parabolic curve improve the probability of a retracement earlier than additional upside. A correction might see the worth of SOL retest the $220-$230 vary, which coincides with the latest breakout zone and aligns with the 50-day SMA assist. If promoting strain intensifies, the 200-day SMA close to $200 can be the following vital assist to observe.
As buyers pile into SOL, they’re additionally snapping up a brand new different known as Solaxy (SOLX), which 99Bitcoins, a well-liked crypto channel on YouTube with over 721K subscribers, says may soar 100x after launch.
Solaxy Presale Races Towards $12 Million
The Solaxy presale continues to garner vital consideration within the meme coin sector because it surges previous $11.5 million in early funding.
Solana’s speedy development has triggered slowdowns, particularly throughout busy durations of meme coin buying and selling and NFT drops.
Solaxy goals to unravel Solana’s congestion issues with options like transaction bundling and off-chain processing, bettering Solana’s effectivity with out slowing it down.
Though Solaxy is constructed to work with Solana, the undertaking will first launch on Ethereum. The staff is growing a bridge between the 2 blockchain networks to attach them.
🚨 Solaxy is now stay in Upcoming Tokens! 🚨@SOLAXYTOKEN provides holders a chance to hitch the first-ever Solana Layer 2 blockchain.
Solaxy is about to reinforce blockchain innovation by means of limiting congestion, lowering failed transactions, and bettering scalability on SOL.… pic.twitter.com/satNF6zFNF
— Greatest Pockets (@BestWalletHQ) December 17, 2024
By shopping for and holding SOLX, customers may earn passively by means of the platform’s staking mechanism, which presents a sky-high annual yield of 313%.
Traders focused on taking part within the presale can go to the official Solaxy web site to purchase SOLX tokens on the present worth of $0.001606 every utilizing BNB, ETH, USDT, or a financial institution card.
Purchase earlier than a worth hike in lower than 2 days to safe the most effective deal.
Go to SOLX right here.
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