Solana Market Trends: SOL Surges 7%, As Investors Eyeball Potential 100X Returns from Emerging Solana Layer-2 Token Worth $33.8M
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Solana is heating things up with a 7% surge in the last 24 hours, currently trading at $162.12 as of 1:12 a.m. EST, on an impressive 32% increase in trading volume to $7.1 billion. 📈
Solana: Cruising Towards a 19% Leap?
The surge in Solana's price has propelled it past resistance at $156, reflecting robust bullish momentum after a steady climb from its mid-March low of $96.59. This breakout follows a consolidation phase between $142 and $156, acting as an accumulation zone before the explosion.
Gazing at Solana's price chart, you'll find a bullish flag or continuation pattern reinforced by a recent breakout candle, hinting at higher levels. Bullish signals pour in, with the RSI resting at 67.39, signaling strong upward momentum but just below overbought territory, leaving room for further growth.
The MACD also finds itself in a bullish stance, with the blue MACD line at 5.68 topping the orange signal line at 4.82 and turning positive histogram bars. Solana is comfortably trading above the 50-day Simple Moving Average ($135.13) and remains close to the 200-day SMA ($181.02), reinforcing the positive trend.
With a confirmed bullish continuation and supportive indicators, Solana seems ready to target the next significant resistance at the 200-day SMA around $181, potentially bringing a 19% boost to its price, reaching the $193 resistance zone if the fervor persists.
A safety net of sorts, the $150 price level within the consolidation zone acts as a shield against potential downturns in case of any pullback.
Solaxy: Chasing the Next 100X Cryptocurrency?
Low-cost transactions compared to Ethereum are already a boon for Solana, and now, its first-ever layer-2 (L2) chain, Solaxy, promises to lower costs even further by offloading computation from the Solana mainnet, easing congestion and reducing on-chain demand.
Solaxy is not shy about its ambitions and has raised an impressive $33.8 million in its presale, indicating strong investor confidence in the Solana-native scaling project. Enhanced features such as an improved transactions per second (TPS) rate, enhanced data throughput, and optimized rollup performance show its commitment to elevating Solana's efficiency.
Seemingly moving at supersonic speed, the team has recently launched a test network and block explorer, hinting at a well-oiled machine primed for action.
Cross-chain technology integrates the best of Solana and Ethereum. Solaxy invite those who stake SOLX to enjoy an annual yield of 119%. Intrigued investors can buy SOLX tokens for $0.001718 each with BNB, ETH, USDT, or a bank card by visiting the official Solaxy website before the next price hike, which is set to arrive in less than 8 hours.
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- The surge in Solana's price and the upcoming launch of its layer-2 chain, Solaxy, indicate that investing in Solana could potentially offer a high return, possibly even chasing the next 100X cryptocurrency.
- In the world of technology and finance, business opportunities like Solana's growth and Solaxy's scaling project underline the significance of staying updated through reliable sources such as our Telegram channel, which provides the latest scoop on crypto news and updates, including the launch of new ICOs and potential investment opportunities.
