• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

What’s Driving the Soaring Solana Prices?

user avatar

by Giorgi Kostiuk

3 months ago


The cryptocurrency Solana has seen a 19% price increase over the past day, hitting a record high due to rising trading volumes and interest in the meme coin $TRUMP.

Current Solana Price Dynamics

The Solana (SOL) price is on a steady upward trajectory, forming a parabolic curve. This movement crosses above both the 200-day and 50-day simple moving averages. Currently, the RSI is above 70, indicating an overbought status for the asset. However, despite these high figures, the possibility of a correction remains.

Forecast: Can Solana Reach $300?

In the short term, Solana may face resistance around the $270-$275 zone. A breakthrough beyond this level could drive the price toward the significant psychological barrier of $300. Nonetheless, the overbought condition and parabolic move pose a risk of retracement, especially with potential retests of support levels at $220-$230.

Solaxy Presale Gains Traction

The ongoing presale of the new token Solaxy (SOLX) has gained significant attention, surpassing $11.5 million in early funding. Solaxy aims to tackle Solana's congestion problems by implementing features such as transaction bundling and off-chain processing.

Solana continues to capture investor attention with significant price growth and the development of the new Solaxy token. It's crucial to monitor potential price corrections, which may offer entry points for future investments.

0

Share

Other news

BTFD Coin Presale Ends May 26: 5 Cryptos to Watch for 1000x Potential

BTFD Coin presale ends on May 26. Explore 5 cryptocurrencies with high growth potential.

user avatarGiorgi Kostiuk

6 minutes ago

MAGACOINFINANCE: Crypto Investors Turning Attention to New Token

The cryptocurrency MAGACOINFINANCE is drawing attention as XRP and Solana continue to show strength.

user avatarGiorgi Kostiuk

22 minutes ago

AI Agents from Unstaked: Revolutionizing Crypto Usage

Unstaked introduces AI agents that promise automation and real results for users in the crypto world.

user avatarGiorgi Kostiuk

27 minutes ago

Michael Saylor: BlackRock IBIT Could Become the Largest ETF in the World

Michael Saylor predicts BlackRock's Bitcoin ETF will rank first among ETFs within ten years.

user avatarGiorgi Kostiuk

43 minutes ago

DeFi Development Corp Plans to Raise $1 Billion for Solana Token Purchases

DeFi Development Corp files with SEC to raise $1 billion targeting an increase in its Solana token holdings.

user avatarGiorgi Kostiuk

43 minutes ago

Raphael Coin Unveils Tokenized Renaissance Piece: A New Era for Art

Raphael Coin has launched the token 'Recto: Study for the Battle of the Milvian Bridge', offering fractional ownership of a Renaissance artwork.

user avatarGiorgi Kostiuk

44 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.