Solaxy Price Soars 90% Ahead of the Upcoming MEXC Listing – Bulls Target $0.0014
Highlights:
- The price of Solaxy has increased by 90% to $0.001, accompanied by a 193% rise in daily trading volume, indicating strong market activity.
SOLX breaks out of a descending parallel channel, reaching $0.0012, and eyes further upside to $0.0014.
Technical indicators show overbought conditions, cautioning of a possible retracement.
As of 1 July, there has been phenomenal growth in the price of $SOLX, increasing by 90% to trade at $0.001. Accompanying the rising price is its daily trading volume, which has spiked by 193%, indicating intense market activity. This price increase is a strong indication of the bullish sentiment towards the asset, particularly following the upcoming MEXC listing.
It's almost time. https://t.co/Wqz0ZrqnnM
— SOLAXY (@SOLAXYTOKEN) July 1, 2025
The SOLX token will be listed on the exchange on 2 July 2025, at 08:00 UTC, through the Kickstarter program. They will provide a tremendous incentive of 62.5 million SOLX tokens and will encourage new and current investors to become involved in the project.
Investors are eager to witness its listing, hoping for further growth and traction of $SOLX. Moreover, the project has an advantageous selling point with its mix of meme coins, DeFi propositions, and access to real-world benefits. This is an attractive choice to crypto investors seeking growth.
Solaxy Price Breaks Out of A Parallel Channel
The SOLX/USD hourly chart shows the altcoin exchanging hands at $0.001, breaking through the descending parallel channel. The token reached a daily high of $0.0012 before retracing to its current levels, allowing the bulls to sweep through the liquidity.
The 50-day MA at $0.0006 is acting as strong immediate support, giving the bulls wings for further upside. Moreover, the 193% increase in volume reinforces the strong bullish sentiment in the market. If the momentum sustains, SOLX will soon rally towards $0.0014.
Technical indicators suggest that the bullish momentum is persistent, as the RSI sits at 83.58. This indicates intense buying pressure, as the token has entered overbought conditions. Traders should be cautious as a potential pullback could be imminent.
The MACD also suggests a positive projection, as the crossover is strongly bullish with an MACD line ( 0.00009)above the signal line value of (0.00003). With the positive outlook, traders are at liberty to buy more SOLX tokens, unless the MACD changes.
Overbought Conditions Signal Potential Pullback in SOLX
A zoomed-out view of Solaxy’s price shows that the bulls are having the upper hand. Moreover, the recent spike and upcoming MEXC listing may indicate further upside. Moreover, traders’ FOMO is also evident, suggesting further upside potential. If the support zone at $0.0006 holds, and the recent daily high of $0.001 is broken, the bulls could target $0.0014 in the coming days. In the meantime, if the conviction holds and the volume sustains, the Solaxy price could extend to $0.0016 in the medium term.
On the flip side, with the overbought RSI, a potential retracement is likely. This will enable the bulls to sweep through liquidity before triggering another rally. In such a case, the safety net at $0.0008-$0.0006 will cushion against further downside. Only a close below the $0.0006 mark will trigger panic sell-offs in the market, indicating further downside.
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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