Elluminex (ELX) Coin Projected To Follow The Path Of Solana’s (SOL) 2021 Rally

The recent market selloff has pushed many altcoins into the bear market with the Solana price dropping below the $200 support zone for the first time in two weeks.

The recent market selloff has pushed many altcoins into the bear market with the Solana price dropping below the $200 support zone for the first time in two weeks. However, the Solana trading volume has continued to rally, which indicates the ongoing market setback might be temporary.

While the market is declining, Elluminex, a new DeFi protocol launching on the TON blockchain, might replicate the Solana 2021 bull run due to the rising interest in the project. As one of the fastest-growing blockchains with over 950M active users, Elluminex is set to bring DeFi to the TON network. Given the core features of the new DeFi protocol, the ELX token is projected to hit a good rally in presale.

Can Solana’s Price Rebound Above Its ATH This Bull Cycle?

Solana price has experienced a massive decline in the past 24 hours after the US Federal Reserve announced a 25 basis point rate cut, triggering a massive market selloff. According to CoinMarketCap data, the Solana crypto price has declined by 17% in the past 7 days, pushing the altcoin below the critical $200 support zone.

The technical analysis from Tradingview shows the RSI at 39 in bearish territory, suggesting that now could be the best time to buy the dip. Also, the Solana token is down below the 30-day SMA ($229.87) with a bearish market sentiment. Although the Fear and Greed index is 74 (Greed), Solana needs to maintain the crucial $180 support zone to trigger a bullish move.

CryptoBoss, a popular expert on X, thinks that Solana’s price is within the buying zone. Based on the tweet, the next rebound will push the Solana crypto price above the $220 mark. To further support this stance, another analyst, Batman, claims that the Solana token is within a strong support zone. As such, a rebound will push the altcoin above the $230 mark.

Elluminex Coin Projected To Follow The Path Of Solana’s 2021 Rally

Although new, Elluminex (ELX) is staking a claim to the $97B DeFi market due to the massive utility and innovations it is bringing to the TON blockchain, which houses over 950M active users. While the DeFi ecosystem is growing rapidly, users face issues such as fragmented liquidity, high fees, complete interfaces, and limited access to early-stage investment opportunities.

Leveraging cross-chain interoperability, Elluminex will enhance DeFi liquidity across the TON network, thereby solving issues of fragmented liquidity. As a next-generation DeFi hub, Elluminex is offering users a comprehensive DEX and trading platform that will allow them to trade a wide range of assets directly from their wallets with little or no spillage and make profits.

The Advanced staking and farming mechanism rewards users for staking the ELX tokens and providing liquidity to the ecosystem. Likewise, users can take advantage of the AI-powered portfolio tracker to monitor, analyze, gain insights about the market, and make smart trading decisions. Coupled with the over-the-counter platform, which gives users early access to new TON projects before listing on exchanges, traders can easily boost their profits.

With a focus on Education, Elluminex is also launching an Educational DeFi platform aimed at boosting users’ knowledge of DeFi while bringing DeFi closer to the people. Given the project’s innovative tokenomics, which comprises a deflationary mechanism, the native token ELX is projected to follow Solana’s 2021 bull season, which saw the altcoin gain over 11,000%.

Can Elluminex Hit A Significant Rally In 2025?

The Elluminex project has a limited 350M total supply, 50% of which has already been allocated for presale. This means the best time to accumulate the token is during the presale. With a high chance of token scarcity in the coming weeks, the principles of demand and supply could play out, pushing the ELX price to a record high. Although the Solana token is tipped to surpass its all-time high soon, the Elluminex robust ecosystem makes it one of the altcoins to watch out for in 2025.

For more information about Elluminex (ELX) visit the links below:

Website:

https://elluminex.com/

Twitter/X: https://x.com/elluminex

Telegram: https://t.me/Elluminex

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