Solana Price drops by 13%, traders flock to this ICO for 100x gains

The Solana price has plunged more than 13% in the last 24 hours to negotiate $ 141.58 at 9:53 p.m. is that investors unload their assets in the crypto on the market.

The drop in soil price occurs after the Wintermute market retire 40 million dollars on the ground of the main crypto exchange binance before a discharge of $ 2 billion token, which is the largest in Solana’s history. This decision has raised concerns concerning the pressure of the sale as the feeling of the market is worsening.

Solana price based on the support

4 -hour table for floor / USD (source: geckoterminal)

THE Solara The price is based on a level of key support at $ 140.05, according to Geckoterminal. If the Altcoin falls below this technical crutch in the coming hours, it could be at risk of diving up to $ 122.74 in the short term.

In a more optimistic scenario, traders could eventually identify the current soil price as an opportunity to buy. This could lead to a rebound in the $ 140.05 support and a potential test of the $ 161.98 bar, which has been transformed into resistance in the last 24 hours. A 4 -hour candle of $ 41.98 could then give solarna price the foundation necessary to reach $ 185.06.

The techniques suggest that the Solana price will continue to decrease

From a technical point of view, the indicators of the 4 -hour floor table warn the price of cryptography could continue to decrease in the coming hours. More specifically, the divergence of mobile average convergence (MacD) and the relative resistance index (RSI) display lowering signs.

In the past 24 hours, RSI readings have dropped with the Solana price. This abrupt drop in the values ​​of the indicator indicates a sharp decrease in the power of the buyer and an overwhelming force of the seller. Now the RSI is in territory deeply occurring around 16 years old.

Although the low RSI reading can be considered as a purchase signal, since it suggests that the potential for soil rise is currently higher than its drop in decline, the negative slope of line RSI warns that sellers control always the Solara price. It is not uncommon for RSI values ​​to remain low for sustained periods when a crypto is being released.

Meanwhile, Momentum Favors Bears, as suggested by the positioning of the MacD line under the MacD signal line. With the growing gap between the two technical indicators, it seems that sellers do not intend to relieve their pressure on Solana’s price.

With the Solana price at the mercy of the sellers and a negative feeling on the market, investors will probably turn to a new token of Prévente Sol Layer-2 called SOLAXY (Solx) To protect their capital. The new crypto is not yet exposed to wider market oscillations and the popular Youtube 99Bitcoins channel, with more than 725,000 subscribers, estimates that it could rise 100x after the launch.

Take Solana at the upper level

Solana has become congestioned due to media threshing around soil -based memes parts that skyrocket in recent months. While the popularity of these tokens continues to climb, opportunistic developers who seek to capitalize on the trend launch new pieces of memes daily. If something does not change soon, the Solana network presents the risk of undergoing another failure.

Solaxy, with its sidechain technologies and layer 2 native scale, will give the Solana network to date the largest upgrade, and will increase its transactions treatment capacities at the upper level. The project will work in parallel with the Solana Mainnet and will take up a major part of the blockchain transactional workload.

Once launched, the Solaxy Sidechain will treat transactions out of the Solana blockchain, will bring them together, then return the lots of transactions to the Mainnet Layer-1 for final validation and the holding of files. This approach to the treatment of transactions has already been proven as a viable means of developing a network within the Ethereum ecosystem.

Solaxy will not only evolve the flow of Solana’s transactions, but will also expose the network to a larger part of the web3 community by bridgeting the Solana and Ethereum networks. In doing so, the project will create a Super Web3 infrastructure which combines the Florying DEFI ecosystem of Ethereum with the high speeds and the low costs of Solana.

In this new infrastructure, Solx will be positioned as a main and profitable transaction layer between two of the most important blockchains in cryptographic space.

Solaxy’s presale becomes parabolic

Solaxy has succeeded in collecting more than $ 23.4 million thanks to its presale so far, which signals strong investors’ confidence in the future of the project.

Anyone who wants to enter the project stages of the project can do so by acquiring solx via the simple purchase widget integrated on the project website. Selling $ 0.001646, the crypto can be purchased with a crypto or a bank card.

Buy and put Solx here to unlock an APY of 173%.

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