- Solana (SOL) surged 4% to $201.77, showing strong bullish momentum with potential to hit $400 if it breaks key resistance.
- Meanwhile, Solaxy (SOLX), a new Solana Layer 2 project, is gaining traction with 10X growth potential and a 215% annual yield.
Solana (SOL) is back in the spotlight, gaining 4% in the last 24 hours and trading at $201.77. Despite a 44% drop in trading volume, SOL remains in a strong uptrend. With key technical indicators showing bullish signals, experts predict further gains. At the same time, a new Solana Layer 2 project, Solaxy (SOLX), is making waves, with investors eyeing its potential for 10X growth.
Solana Price Outlook: More Gains Ahead?
Solana has been one of the best-performing cryptocurrencies since recovering from its bear market lows in 2022. The current price sits at $201.77, not far from its recent high of $295.83.
A key technical signal is SOL trading above both the 50-day SMA ($172.95) and the 200-week SMA ($90.42). These levels have acted as strong support zones, suggesting a well-established long-term uptrend.
The Relative Strength Index (RSI) stands at 59.65, indicating neutral to bullish momentum. This means there is still room for an upward move before SOL reaches overbought conditions.
If SOL breaks above $295 – $300, it could trigger a rally toward $400 and beyond. However, if the price falls below the $172 – $175 support zone, it could drop further to $150 or even $120.
Solaxy (SOLX): The New 10X Layer 2 Solution?
As Solana’s price climbs, investors are turning their attention to Solaxy (SOLX), a new Layer 2 scaling solution on Solana. According to 99Bitcoins, a popular crypto YouTube channel with over 724K subscribers, SOLX could soar 10X post-launch.
Solaxy has already raised over $18.9 million, highlighting strong demand for its scalable and efficient Layer 2 technology. Designed to enhance speed and reduce transaction failures, Solaxy improves Solana’s performance while bridging it with Ethereum for better liquidity and security.
With an impressive 215% annual yield, SOLX also offers passive income opportunities for holders. The presale is ongoing, and investors can buy SOLX tokens for $0.00163 using BNB, ETH, USDT, or a bank card.
Solana’s bullish price action signals potential for more upside, with $300 being the key breakout level. Meanwhile, Solaxy (SOLX) presents an exciting opportunity for investors seeking high-reward crypto plays. If the project delivers on its promise, early adopters could see massive gains.
As always, investors should do their research before diving into high-risk investments.
