Solana (SOL) Price Soars 4% As DeFi Meme War Erupts

The Solana price soared 4% in the last 24 hours to trade at $140 as of 9 p.m. EST on a 27% pump in trading volume to $2.65 billion.

Solana (SOL) price clocked a 4% gain in the last 24 hours to trade at $140 as of 9 p.m. EST on Tuesday. The move came amid a 27% increase in trading volume to $2.65 billion.

Solana Price Analysis: Bulls Target $200 After Bearish Channel Breakout

Solana (SOL) appeared poised for a significant rebound after breaking out of a prolonged bearish channel that had weighed on the token since late January.

As visualized on the chart by crypto analyst Ben Rekstad, Solana (SOL) price showed promise of continuing its rally after breaking through a key resistance zone.

After reaching a peak of around $266.60 earlier this year, SOL underwent a steep correction, falling to a low of $100, a crucial support zone highlighted by sell-side liquidity. This descent created a well-defined bearish channel, with multiple breaks of structure (BOS) confirming a downward trend.

Earlier in Q4 2024, the asset experienced a parabolic rally, surging from $20 to over $125, completely sweeping buy-side liquidity. However, with the meme coin hype reaching fever pitch, the price action stalled at the $130–$135 range.

This signaled a potential shift in market sentiment as April unfolded, with Solana (SOL) showing signs of accumulation in the $100 region. A breakout above the $130–$135 resistance range confirmed a bullish break of structure, signifying that buyers had regained control.

SOLUSDT Analysis Source: Tradingview

Relative Strength Index (RSI) now stands at 59.63, indicating some bullish momentum without being overbought. Technical signals suggest that Solana (SOL) could rebound towards the $200 level, a former support zone now acting as a key upside target.

This $200 area also coincides with an unfilled order block, further emphasizing its importance. If the recovery continues, Solana (SOL) might push higher mid-term, with $160 emerging as the next key resistance zone.

On the downside, bulls would need to see Solana (SOL) price stay above the $130 support to keep the bullish trend intact. A drop below this level could lead to a retest of lower zones around $110–$100, although the current momentum suggests any dip might be short-lived.

With buying pressure building, a move toward $200 appears possible if the crypto market continues to show strength.

Solaxy Presale Nears $31M – Best Crypto To Buy Now?

Even as Solana tries to continue its price run, attention is shifting to another fast-rising Solana-based project, Solaxy (SOLX), which has raised $30.8 million in its presale.

Solaxy is set to become the first layer-2 scaling solution for the Solana ecosystem, using a transaction model similar to Ethereum’s Arbitrum and Optimism.

By handling transactions off-chain and settling them on Solana’s mainnet, Solaxy aims to reduce costs and increase transaction speeds, a much-needed fix for the network’s growing congestion and latency issues.

The timing couldn’t be better as a meme coin war has erupted between Solana-based platforms Raydium and Pump.fun, with both racing to dominate the space.

Raydium recently launched its LaunchLab, a new token launch platform in a move that appears to be targeting Pump.fun. This came after Pump.fun rolled out PumpSwap, a decentralized exchange, which has also seen a surge in activity.

## Solaxy (SOLX)

Price Prediction

🚀 #SOLX showing massive potential with analysts projecting up to 1,790% gains by end of 2025! Layer-2 scaling solution addressing #Solana's congestion issues could be a game-changer. Presale already raised nearly $30M. Early investors taking… pic.twitter.com/Hg0rbaFGeK

— CryptoInsight (@teknopattv48) April 11, 2025

This rise in meme coin trading is driving network demand, and Solaxy is positioned to benefit. As activity continues to grow, so too could Solaxy’s revenue, given its role in easing transaction loads.

With its unique role as Solana’s first L2 solution, Solaxy could play a major role in shaping the future of meme coin trading and network scalability.

A standout feature is Solaxy’s cross-chain bridge, set to launch first on Ethereum. This bridge will combine Ethereum’s deep liquidity with Solana’s high-speed architecture.

The SOLX token will be central to the platform, powering transactions, governance, and rewards across the ecosystem.

Crypto YouTube giant 99Bitcoins, with over