The Solana price has risen by 9% today, with the alt’s move to $151.89 coming as the crypto market as a whole gains by 4% in the past 24 hours.
These increases have followed from remarks from US President Donald Trump, who suggested yesterday that he’s willing to strike a trade deal with China.
Trump’s overtures have raised hopes that the ongoing trade war between the US and China (and also the rest of the world) could soon come to an end, something which could reignite the bull market that followed the President’s election victory in November.
And Solana is one of the best-positioned tokens to profit from any return to bullishness, with the coin’s fundamentals giving it a very strong long-term price prediction.
Trump’s China Pivot Triggers Solana Price Spike – $1,000 SOL Now in Play?
Speaking at a White House press conference yesterday, Trump suggested that US tariffs on Chinese goods could come down substantially, and that the two nations could soon make a deal.
This is the primary reason for the market’s bounce in the past 24 hours, with traders hoping that the recent trade and tariff war will soon come to an end.
It’s in this hopeful context that Solana has been able to recover, with the coin also up by 22% in a week and by 42% in the past fortnight.
Its chart today suggests that it has some space left for further gains, before it enters too much of an overbought position.
Most bullishly, its 30-day average (orange) still hasn’t climbed over the 200-day (blue), a clear indication that it isn’t too hot right now.
Source: TradingView
Similarly, its RSI (purple) has just begun rising towards 70, having spent the past couple of months mostly below 50.
This suggests that Solana can look forward to a decent period of growth in the coming weeks, especially if the US and China do strike some kind of understanding or trade deal.
And when we turn to the bigger picture, the Solana price should continue to make considerable progress over the course of the year.
It remains the second-biggest layer-one network in terms of TVL, while it also has several important upgrades to look forwards to, most notably the Firedancer validator client.
Such improvements will only help it to grow even bigger, attracting more token launches and more of the DeFi ecosystem.
It could therefore return to $200 by June, before reaching $300 by Q4.
Solana Looks Strong — But This New Alt Could Deliver Even Bigger Gains
As promising as Solana remains, those looking to diversify their portfolios may also want to consider newer tokens that could potentially jump from a much smaller base.
One way of finding such tokens early is to look for successful presales, which can often lead to big rallies once the corresponding tokens list for the first time.
This could potentially happen with Solana-based alt Solaxy (SOLX), which has now raised $31.2 million in its ongoing sale.
Solaxy is gaining attention because it promises to be Solana’s first fully fledged layer-two network.
As an L2, Solaxy will provide Solana users with faster confirmation times and lower fees, while also facilitating instant bridging between itself and its parent chain.
It’s aiming to become an important hub for meme coins, while it also plans to add compatibility with other chains over time.
SOLX will serve as payment for the platform’s transaction fees, while holders will also be able to stake it for a regular income.
Investors can still join its sale by going to the Solaxy website, where SOLX is now available at $0.001702.
This will rise again later today, while its launch in the next few weeks could see it move much higher.
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