Solaxy (SOLX) Price Soars Past $29M Market Cap as Its Presale Continues to Roar

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The Solana price dropped 3% in the past 24 hours to trade at $119.32 as of 12:31 a.m. EST on trading volume that surged 106% to $7.1 billion.

This decrease in the SOL price coincided with a broader market pullback, with the crypto space plunging 3% in the last 24 hours to a $2.77 trillion market capitalization.

That’s as a result of President Trump’s decision to slap a 10% tariff on most goods imported to the United States, as well as higher duties on dozens of countries from rivals to allies.

“One of the largest tariffs in US history just went into effect,” said Naman, a trader who posts on Twitter, in a recent post.

“185 countries will suffer a tariff war, S&P 500 futures erased $2 TRILLION of market cap in under 15 minutes, and the total crypto market cap is down -3.3% from $2.88T to $2.78T today.”

Trump announced, “and now we are… pivoting to crypto.”

This hike in tariffs has intensified global trade war that threatens to stoke inflation and stall growth.

Is The SOL Price Preparing For A Bullish Reversal?

The SOL price chart reveals a well-defined price action characterized by a double-top pattern, which is a classic bearish reversal pattern.

The Solana price reached two distinct peaks, marked as points (1) and (3), before breaking below the neckline support near the $180 level, according to GeckoTerminal data. The breakdown from this pattern led to a strong bearish decline, confirming the trend reversal.

Following the breakdown, SOL found support within the Fair Value Gap (FVG) area. This level has acted as a demand zone, helping the price consolidate.

Recently, the price of Solana appears to have reached a key pivot point labeled as (4), suggesting the potential for a new impulsive wave to the upside, aligning with Elliott Wave theory.

The 50-day Simple Moving Average (SMA) is currently at $144.06, while the 200-day SMA sits at $182.97. With SOL trading below both SMAs, the trend remains bearish in the short term.

The Relative Strength Index (RSI) is at 39.34, indicating that SOL is nearing oversold conditions. This suggests that selling pressure might be weakening, increasing the likelihood of a potential reversal or at least a short-term bounce from the support zone.

Solana Price Prediction

The SOL/USDT on the 1-day timeframe hints at a possible bullish wave (5) forming after the correction.

If the support zone around $115-$120 holds, the Solana price could initiate an upward move toward the $144 level, where the 50-day SMA presents a key resistance. A breakout beyond this point could drive prices towards $182, coinciding with the 200-day SMA and previous support-turned-resistance levels.

Conversely, if SOL fails to hold above the current support, it may revisit lower levels, potentially targeting the $100 psychological support before attempting another rebound.

Meanwhile, investors are buying a new Solana coin called Solaxy (SOLX), which popular YouTube channel 99Bitcoins, with over 725K subscribers, says has the potential to soar 100X post-launch.

Solaxy Presale Closing On The $29 Million Mark – Best Alternative To Solana?

Solaxy has roared past the $28.9 million milestone in its presale, revealing new developer upgrades to mark the achievement.

The latest enhancements include an improved transactions per second (TPS) rate, enhanced data throughput, and optimized rollup performance, all key steps as Solaxty is preparing to launch as the first scaling solution for Solana.

Solaxy is the first Layer-2 meme coin built to enhance Solana’s scalability and network throughput to ultimately lower transaction costs.

It’s also touted as the perfect coin for traders seeking outsized returns potential.

By optimizing Solana’s infrastructure, Solaxy is not just another project; it’s shaping the future of Solana-based crypto launches.

Its ambitions don’t stop there. Built with cross-chain technology, Solaxy combines the best of Solana and Ethereum. As a result, SOLX becomes a hybrid asset that stands out in the market.

Furthermore, once launched, Solaxy will provide a platform where developers can build decentralized applications or launch new tokens without compromising—and possibly even improve—Solana’s Layer-1 capabilities.

Investors who wish to participate in the presale can visit the official Solaxy website to buy SOLX tokens for $0.00168