Will $SOL Hold Above $100 as Solaxy Presale Nears $30M
The post Will $SOL Hold Above $100 as Solaxy Presale Nears $30M appeared on BitcoinEthereumNews.com.
Solana continues to stand out as one of the most efficient and robust blockchain ecosystems in the crypto landscape. Despite recent market volatility, including the return of extreme fear across the broader crypto market, Solana remains a core asset for many long-term investors. At its peak, Solana reached an impressive price of over $294, with a market cap surpassing $127 billion. Although it has since declined by around 50%, it still showcases immense potential, particularly given its scalability, high transaction throughput, and extensive ecosystem of decentralized applications and NFTs. With the current price hovering around the $120 mark, this level is seen as a potential solid entry point for new investors. Historical context further reinforces Solana’s resilience. From its lows of just $1 back in December of a previous cycle, Solana rallied to deliver returns upwards of 121x for those who held through the volatility, with peak gains hitting close to 300x. Even a more conservative timeframe would have yielded an extraordinary 250x gain in under a year, illustrating its explosive potential during bullish phases. However, it’s also noted that Solana’s total value locked (TVL) tends to surge primarily during phases of meme coin mania. Much of this liquidity influx tends to dissipate as the speculative hype fades, suggesting the challenge Solana faces in regaining previous highs like $125 billion in market cap. A return to such levels would require fresh bullish momentum and significant liquidity entering the market. Source – Jacob Crypto Bury on YouTube Solana Price Prediction Solana appears to be at a crucial technical juncture, having seemingly broken out above the key resistance range between $121 and $123. This zone, previously a significant area of balance, now serves as a critical test for price strength. A notable development is the asset moving above its 30-day VWAP (Volume-Weighted…
Filed under: News - @ April 12, 2025 1:19 pm