Solana (SOL) has posted mild gains of 0.4% in the past 24 hours as the token is struggling to stay above a key support area that traders believe could be relevant for its future performance.
In the past 7 days, the native asset of the second-largest smart contracts platforms has shed 9.2% of its value and currently sits at $174.7 per coin.
Despite this weakness, SOL is still outperforming its peer, Ethereum (ETH), whose year-to-date losses currently stand at 17.7%.
The Solana ecosystem has been expanding rapidly in the past 12 months as decentralized applications (dApps) like Jito, Jupiter, and Raydium have seen significant growth in their total valued locked (TVL) as per data from DeFi Llama.
Moreover, the launch of celebrity-endorsed meme coins like Official Trump ($TRUMP) and Melania Meme Coin ($MELANIA) have also helped drive higher transaction volumes to the blockchain.meme coins
Solana (SOL) Could Climb to $210 if This Bullish Pattern Unfolds as Expected
SOL currently sits 40.9% below its all-time higher from January 19, back when the launch of $TRUMP propelled the price of the asset.
From a technical standpoint, yesterday’s 3.2% gain is supporting a bullish short-term outlook for SOL as the token is bouncing off a key support area at $170.
A sustained climb from these levels would validate the formation of a double-bottom pattern—a high-probability bullish setup that often precedes a strong price surge.
Momentum indicators offer partial confirmation, with the MACD histogram showing a divergence, signaling weakening negative momentum despite the recent price drop. However, the Relative Strength Index (RSI) has yet to generate a definitive buy signal.
While conservative traders may wait for RSI confirmation, aggressive ones could enter early to maximize potential returns.
A short-term target for Solana could be set at $210, representing a potential 20.7% gain from current levels.
However, as Solana’s growing adoption continues to strain its network—especially during peak events like the Official Trump launch—scalability concerns remain.
Solaxy ($SOLX), the first-ever Layer 2 solution for Solana, aims to tackle these congestion issues and ensure the network operates smoothly as demand surges.
Solaxy Raises More Than $22M to Strengthen the Solana Ecosystem
As DeFi adoption accelerates and meme coin mania continues to surge, resolving Solana’s persistent congestion issues is crucial for maintaining its dominance and ensuring seamless user experiences.
Solaxy ($SOLX) has raised $22.5 million just two months after launch to deploy its scaling solution, which bundles transactions offline to reduce congestion on the Solana mainnet.
In a recent update, the development team confirmed that integration testing between Solana and Solaxy’s rollup, in collaboration with Hyperlane, has been successfully conducted. This integration will enable seamless deposits and withdrawals via the Layer-2 protocol.
With the project now entering the implementation phase, the window for investors to buy $SOLX at its presale price is closing.
At its current price of $0.00164, $SOLX offers strong upside potential once the solution is fully deployed and the token lists on exchanges.
Additionally, investors who stake their tokens to secure the network will receive an APY of 181%.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear 
