Anticipated Solana ETF by 2025: Bloomberg Intelligence Favors 90% Chance, Investers Rush Towards This Layer-2 ICO Offering 100X Growth Prospects
Rewritten Article:
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Solana price experienced a 2% spike in the previous 24 hours, now trading at a robust $149.47 as of 9:38 p.m. EST, indicating a slow but steady accumulation of the altcoin. 📈
The intriguing surge in Solana's price is being fueled by optimistic predictions from Bloomberg Intelligence analysts, who estimate there's a 90% chance US regulators will approve a Solana ETF (exchange-traded fund) by 2025. 🎯đź’Ē
Wish we could hear from Atkins directly, but we'll have to cross that bridge when we get there! Check out Eric Balchunas' latest ETF odds via @JSeyff by following this link: [link intentionally omitted] 🔗
Solana Price Recovers After Dropping Out of a Channel 🔄
Check out the daily SOL/USD chart (Source: GeckoTerminal) 📊
Recently, Solana's price slipped out of an ascending channel. This led to a rebound from the support at $141.99 in the past 24 hours, according to GeckoTerminal data. With the support in place, Solana might challenge the significant resistance at $153.42. Overcoming this hurdle could potentially open up the path for Solana to reach as high as $165.49.
However, a sudden bearish move could thwart the bullish forecast, leading Solana's price to retest the aforementioned support. In a worse-case scenario, it could plunge down to $132.14 in the short-term. đźšš
Potential Uptrend for Solana Price in the Short Term 👩🏽 investigation
Looking at Solana's technical indicators, the price could continue to move upward in the following 24 hours. Traders should pay close attention to medium-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI). 📈
In the past couple of days, a significant bullish technical flag was triggered when the 20 EMA crossed above the 50 EMA. This technical development often signals that a crypto has entered a positive trend. Since the two lines crossed, the gap between them has been widening, hinting that momentum is gaining speed. zap zone 🚀
Meanwhile, RSI readings have also started to climb steadily again in the past 24 hours, possibly indicating strengthening buying power. With the current reading above the neutral 50-mark, it suggests that buyers currently have the upper hand over sellers. It also implies that there is still room for Solana to rise further before the market becomes overbought. 🚀
With the bullish EMA cross, the rising RSI and reading above 50, Solana's price might continue to climb in the next 24 hours, challenging the $153.42 barrier sooner rather than later. If traders respond favorably to these technical signals, a challenge of the aforementioned resistance is likely. đź‘🏻
As the Solana price continues to rise, there's a growing interest in the Solaxy (SOLX) presale. With 99Bitcoins, a well-known YouTube channel with over 725K subscribers, predicting that SOLX could surge 100X following its launch. đź’Ą
Layers of Scaling: Solana's Layer-2 Solution đź–žďź──ďź–
Solana was developed to be a cheaper and faster alternative to the Ethereum network, attracting developers in droves. As a result, Solana-based meme coins garnered plenty of hype, leading to high levels of congestion on the network. This has caused occasional delays and even failed transactions for some users. đźš regard connected
Solaxy aims to resolve the high traffic issues on Solana using layer-2 technology. As the first scaling solution for Solana, Solaxy will process and group transactions off of the mainnet, then call upon the Solana blockchain for final validation. This approach mirrors other successful layer-2 solutions like Arbitrum and Optimism within the Ethereum ecosystem.
In addition to improving Solana's scalability, Solaxy also aims to combine the Solana network with Ethereum. This will join Solana's high speeds and low fees with Ethereum's robust security framework and thriving DeFi ecosystem, providing a platform for developers to create the next generation of Web3 apps without worrying about scalability or security concerns. 🚀
Solaxy's team has already made strides on its roadmap, having recently unveiled the testnet and its blockchain explorer. The team now has a solid foundation to launch a mainnet capable of achieving their ambitious goal of processing 10,000 transactions per second (TPS).
Soaring Solaxy Presale as Investors Bet on the Project's Future 🚀
Solaxy has already raised over $32.4 million and is on track to deliver one of the most impressive Initial Coin Offerings (ICOs) this year. đź’Š
Interested investors can acquire SOLX via the widget on the project's website using either crypto or a bank card. Once purchased, the SOLX tokens can be staked for a 124% Annual Percentage Yield (APY). đź’²
If you want to secure a great presale deal, act quickly! Currently, the SOLX price is at $0.00171. However, a scheduled price increase is set to take effect in less than 15 hours. đź’Ş
Explore SOLX now! đź‘Άđź‘ŹđźŹ»
- Eric Balchunas, a notable analyst, predicts a high probability (90%) of US regulators approving a Solana ETF by 2025, as per his odds shared on Twitter via @JSeyff.
- In the finance world, Solana's price might continue to ascend in the next 24 hours, as indicated by the bullish signals presented by EMAs and the RSI.
- As Solana's price rises, the Solaxy (SOLX) presale is seeing a surge in investor interest, with projections suggesting SOLX could increase 100X following its launch.
- Developed to address high traffic issues on Solana, Solaxy employs layer-2 technology to improve scalability and aims to connect Solana with Ethereum for a secure, high-speed platform for creating Web3 apps.
