Solaxy (SOLX) Price Could Soar 100X Post-Launch - By CoinGecko

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The price of Cardano (ADA) dropped 3% in the past 24 hours to trade at $0.7151 by 3:59 a.m. EST as trading volume fell 14% to $1.2 billion.

This decrease in the ADA price comes as Charles Hoskinson asked on X if an ADA Gemini listing is happening.

Hey @Gemini we finally doing this?

— Charles Hoskinson (@IOHK_Charles) March 2, 2025

The daily chart of the ADA price shows a breakout from a descending wedge pattern, which is a bullish reversal signal, with an explosive price surge to a peak of around $1.20.

However, after the strong rally, the Cardano price has pulled back significantly, now consolidating at $0.7151, according to data from GeckoTerminal.

Currently, the price of ADA is hanging around the 200-day Simple Moving Average (SMA) at $0.6927, which is providing strong support to the cryptocurrency.

If this level holds, the price of Cardano could be set for another upward move. The 50-day SMA at $0.8038 is the nearest resistance, and reclaiming this level would confirm renewed bullish momentum.

The recent ADA pullback suggests profit-taking after the breakout. But if ADA can establish support above the $0.70 zone, it could regain strength for another bullish push.

Meanwhile, the Relative Strength Index (RSI) stands at 45.62, showing that ADA is neither overbought nor oversold yet, indicating scope for further movement in either direction, with a bias toward recovery if support holds.

The blue Moving Average Convergence Divergence (MACD) has also crossed above the orange signal line, a sign of a bullish crossover.

If the Cardano price can stay above $0.70 and pierce through $0.80, the next substantial target lies around $1.10 - $1.20, aligning with the measured move from the wedge breakout. This potential move from the breakout zone could deliver a 53% upside.

However, a failure to hold above $0.70 could lead to more downside consolidation before another breakout attempt. In such a scenario, ADA could plummet to the $0.62 support zone, serving as a cushion against further downward pressure.

Investors are buying into a new layer-2 Solana meme coin called Solaxy (SOLX), which has the potential to soar 100X post-launch, according to 99Bitcoins.

Solana has been experiencing congestion problems during peak times, which makes transactions hang or fail.

To fix this, Solaxy is improving transaction speed and reducing fees, similar to how Arbitrum and Optimism improved Ethereum’s throughput and decreased gas fees.

Upcoming $SOLX @SOLAXYTOKEN looks to be a game changer. First ever layer 2 block chain technology unleashing full speed, scalability, reducing congestion on #Solana. Currently in recording breaking presale closing March 15, 2025 https://t.co/SKjCQEmoXN More in thread….. pic.twitter.com/5TDKOeCTSP

— Loot Loop (@LootLoopNews) February 18, 2025

Another massive utility of Solaxy is that it offers the best of both Ethereum and Solana. SOLX merges the benefits of Ethereum’s liquidity and growing decentralized finance ecosystem with Solana’s efficiency and speeds, connecting the two most prominent crypto ecosystems in the Web3 space.

The Solaxy presale has already raised over $26.09 million. Investors interested in participating in the presale can visit the official Solaxy website to buy SOLX tokens for $0.001662 each using BNB, ETH, USDT, or a bank card.

The project’s presale staking program offers token holders a huge 156% APY. Anyone looking to buy SOLX at the best rate will want to hurry, because the token’s price will increase in around 30 hours.