Solaxy Price Dey Stall Below 50 EMA as RSI Dey Reflect Market Indecision
Solaxy, wey be Solana-based Layer-2 protocol, dey try make transaction speed pass 10,000 TPS by using rollups and zero-knowledge proofs. Dem get testnet, block explorer, Ethereum bridge plus support for EVM-compatible dApps. Di main products na Neptoon DEX and Igniter token-creation tool. Even though Coinsult audit no find any vulnerability, di project dey face transparency wahala after phishing scams for fake airdrop site and legal structure wey no clear. For technical side, Solaxy dey trade under e 50-period exponential moving average (EMA) for $0.0003985 on 4h chart, e close for $0.0003742. Relative Strength Index (RSI) dey 49.99, mean say momentum neutral and market dey undecided. Volume spikes dey weak for rallies, wey dey support di downtrend. Traders suppose watch make better break pass 50 EMA and RSI go pass 50 if dem wan see change for trend.
Bearish
Di article dey show say Solaxy token still get technical weakness as e dey trade below 50 EMA for the 4-hour chart plus the RSI dey neutral near 50, wey mean say e no get much bullish energy. History pattern show say if asset no fit reclaim EMA barrier, e fit continue to dey go down, like how other Layer-2 tokens behave after their first big peak. Weak volume for upward moves show say sellers still dey control matter. Even though RSI neutral fit mean say thing fit stabilize, the lack of bullish divergence or strong buying interest mean pressure go still dey. Short term traders fit see small bounces, but persistent resistance for $0.0003985 fit cause more decline. Long term, unless Solaxy fit break above the 50 EMA and keep higher RSI, the bearish trend fit continue.