The Solana price prediction has shifted bullish after SOL price erupted in a sudden 5% pump after the Bitcoin price was boosted by positive US CPI data – in a huge relief to crypto markets.
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price has pushed high following the highly anticipated CPI data release, which has come in remarkably positive, headline inflation ticked up 2.9% year-over-year in December, edging above November’s 2.7%.
Overall, it climbed 0.4% monthly, with fuel prices and stubbornly high food costs doing most of the damage.
“The inflation report is a mixed bag for the Fed, pointing to slow progress while exposing the grind of hitting its 2% goal,” commented 99Bitcoin’s US Correspondent Isaiah McCall.
The Solana community is jubilant at the price uptick, which they’re lording as the end of a ‘manipulation’ era for Solana pricing (in reference to the volatile and unpredictable past month of retail market trading).
Manipulation phase done.
Time for expansion. pic.twitter.com/JLhfNx4MY8
— ₦ihilus (@nihilus_XBT) January 15, 2025
Yet, curiously, the surge in SOL price also comes amid a diminishing 24-hour volume (-5.35% down to $3.74Bn), which suggests this recent uptick in price could be accumulation from true Solana hodlers and not impulsive buying from degen meme coin hunters chasing the on-chain dragon.
Solana Price Prediction: As SOL Price Shifts Bullish Is It All Up From Here?
As SOL price pushes back to the upside, Solana is currently trading at a market price of $198 (representing a 24-hour change of +5.5%).
Upside pressure resumes following a terrifying drop down to lower support at $180 over the past week – with a brief re-test of the 200DMA way down at $169, shaking out all but the strongest hands.
Now, in a resounding bounce, bolstered by bullish CPI fundamentals, SOL price has remarkably reclaimed the 20DMA in one single pump – reaffirming a key foothold in a move that has shifted the Solana price prediction outlook bullish.
(SOLUSDT)
If Solana can consolidate here above the psychological level of $200, then SOL price appears poised to continue a predictable range within the gradually ascendant trading channel, with upside moves targeting key consolidation levels at $215 and $230.
A glance at the RSI reflects this view, with capacity still remaining for further gains on the short-time frame as the indicator remains largely neutral at 49 – this gives Solana holders a decent shot at breaking above the past resistance level around $210 (a critical technical move for future price growth – avoiding a high-risk double-top pattern which could spell disaster).
But while the Solana price prediction suggests alluring gains of up to 40% could be on the cards for SOL price over the next week or two, hungry retail markets eager for an altcoin season are poised and ready to make bigger profits on beta plays on Solana.
Is Solaxy the Ultimate Solana Beta Play in January 2025?
A new crypto presale called Solaxy is rocking the Solana world after promising to deliver the world’s first-ever Solana layer 2 – and the move is capturing some serious attention, with presale funding for SOLX now standing at a jaw-dropping $10,482,000 raised.
Solaxy has one simple mission: To scale Solana and address the high transaction failure rate and needless congestion, which are challenges that continue to plague the network.
This goal is tenable and makes perfect sense, especially now: Despite the congestion, Solana offers several distinct advantages over Ethereum. The platform is modern and scalable and processes transactions in seconds (if they go through).
Check out our 99Bitcoins review of the project below:
The high meme coin density indicates that Solana is a favorite among developers and investors. If Solana continues to expand and defy gravity, the likelihood of SOLX experiencing significant growth is high.
Join the project’s community on X and Telegram to stay updated on its latest developments.
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