Solana (SOL) is starting to regain serious momentum, fueled in part by the explosive growth of its meme coin ecosystem.
Over the past month, SOL has surged 20.7%, signaling a strong comeback as bullish sentiment builds across the network.
One crypto analyst, the pseudonymous Inmortal, believes May could be a defining month for Solana, potentially confirming whether the recent gains mark the end of the bear market.
Inmortal also pointed out striking similarities between Solana’s current price action and its powerful rallies back in 2022 — adding more weight to the bullish outlook.
Two years ago, SOL bounced strongly after a significant downtrend. However, this was a bear market rally that ultimately faded and pushed the token to lower lows.
History may not repeat itself but, sometimes, it rhymes. Inmortal emphasized that the next 30 days will provide a clear answer to what this recent rally truly is.
If SOL drops to $100 again, it would confirm that, as it happened in 2022, the token could trade range-bound near that key support for many months.
However, if the price keeps rising, it could invalidate this thesis and we could see Solana recapturing key levels in the near term – including the highly important $200 threshold.
Solana Breaks Its Falling Wedge and Could Rise to $180
Solana’s recent price action has confirmed a bullish breakout from its falling wedge pattern, with strong volume driving its price from $132 to $150 in just a few days.
Momentum indicators continue to support a bullish outlook, with the RSI holding above the signal line and the MACD histogram remaining firmly in positive territory — both signaling that further upside could be on the horizon.
That said, SOL is still trading below its 200-day exponential moving average (EMA), meaning that the trend is still bearish. A move above this key marker would be a positive signal for bulls as it would confirm a trend reversal.
The 200-day EMA currently sits at around $160, making this a key level to watch for the week.
As Solana’s ecosystem expands, projects like Solaxy (SOLX) are stepping up — with its presale raising over $32 million and still open for now.
Solaxy (SOLX) Improves Solana’s Efficiency and Offers Attractive Staking Rewards
Back in January when TRUMP and MELANIA were launched, a scaling protocol like Solaxy (SOLX) would have helped a ton as users would have not faced any errors or delays as they rushed to buy their beloved meme coins.
This project has already launched a test net and an explorer feature so investors can check how the network is faring at this early stage.
The developing team has partnered with top blockchain companies like Sovereign Labs and Hyperlane to fine-tune the technical side of the protocol and they should be ready to officially launch the mainnet soon.
Apart from the huge upside potential that $SOLX offers once Solaxy is adopted by top wallets and exchanges, this utility token currently offers staking rewards of 125%.
To buy $SOLX, simply head to the Solaxy website and connect your wallet (e.g. Best Wallet).
You can either swap SOL or USDT tokens or use a bank card to invest.
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