Solana priced at $249, experts say SOL Layer 2 May 100X

Solana’s price is up a small fraction of a percentage over the past 24 hours to trade at $249.96 as of 9:56 AM EST on trading volume that is up 18% to $8.5 billion.

This comes after Grayscale Investments filed for a Solana ETF (exchange-traded fund) on the New York Stock Exchange (NYSE). It’s the latest of a number of filings prompted by expectations of a friendlier regulatory environment under Donald Trump.

🚨🚨🚨🚨
BREAKING NEWS: Grayscale has officially filed for its Solana ($SOL) exchange-traded fund (ETF) with the New York Stock Exchange (NYSE). 🔥🎯#Solana #encryption pic.twitter.com/TjmZdA4vrD

– Seth (@seth_fin) January 24, 2025

Solana price may continue to rise

the Sol price The daily chart shows a strong upward trend that has gained significant momentum recently.

After a period of consolidation in mid-2024, Solana price has broken above key resistance levels, and the current price is hovering around $249.96, just below recent highs near $273.42.

Data from GeckoTerminal It shows that Solana price is trying to take advantage of the circular bottom pattern using the $170.62 support level.

Additionally, SOL is trading well above the 50-day simple moving average (SMA) at $212.36 and the 200-day SMA at $178.80, further confirming the uptrend.

The moving averages also formed a “golden cross” around the $151 area, with the 50-day SMA crossing above the 200-day SMA – another strong indicator of bullish sentiment.

Meanwhile, the Relative Strength Index (RSI) stands at 62.52, showing bullish momentum but not yet in the overbought zone (above 70). This suggests that there is still room for further upward movement before any potential correction.

The blue Moving Average Convergence and Divergence (MACD) line is above the orange signal line, and both are trending above the zero line – indicating strong upward momentum.

The chart also shows sustained positive momentum.

SOL is poised for further upward movement

Based on the technical setup, SOL price appears poised for further upside in the near term.

A successful breakout of the rounded bottom pattern indicates a potential target at around $337.

Conversely, key support levels are located at the 50-day SMA ($212) and the 200-day SMA ($178), which can act as safety nets in the event of a pullback.

Meanwhile, investors are also buying a new Solana layer meme coin called Sollax (Solex). According to 99Bitcoins, a popular cryptocurrency YouTube channel with over 722k subscribers, SOLX has the potential to rise 100x after launch.

Solaxy Presale Heads for $15M – The Next 100X of Cryptocurrencies?

Solana markets itself as a fast, reliable, and affordable blockchain network, especially compared to the slower and more expensive Ethereum system. but Recent events show that Solana has not fulfilled these promises, and the situation has worsened after the trading boom after the launch of the official tokens of Trump and Melania Mimi.

Solaxy solves this problem by handling transactions on a second layer, alleviating the burden on the Solana mainnet.

🚨 Solaxy is now in the upcoming codes! 🚨@SOLAXYTOKEN It gives holders of this card the opportunity to join the first ever Solana Layer 2 blockchain.

Solaxy is set to foster blockchain innovation by reducing congestion, reducing failed transactions, and improving scalability on SOL. pic.twitter.com/satNF6zFNF

— Best Wallet (@BestWalletHQ) December 17, 2024

Solaxy’s solution relies on three key features: off-chain processing to handle the heavy work, batching transactions to reduce costs, and securing settlement back on the Solana main chain.

Solaxy also offers holders who own their SOLX tokens a huge annual return of up to 269%.

Investors interested in participating in the pre-sale can visit Solaxy’s official website to purchase SOLX tokens for $0.001614 each using BNB, ETH, USDT, or a bank card.

Buy before prices rise in just over a day to secure the best deal and join the investors who have pumped more than $14.5 million into the project.

Visit the official Solex website here.

Related news

Latest ICO Coin Meme – Wall Street Baby

• Audited by Coinsult
• Early access to the pre-sale tour
• Alpha Private Trading for $WEPE Army
• Staking Pool – High dynamic APY