SolarX’s Price Soars Over 50%, As Strong Investor Confidence Bolsters – Is $0.1 the Next Reach?

Highlights:

• SolarX price soars over 50%, emerging among the top gainers today.
• Its daily trading volume has exploded over 2000% to $8.08 million, suggesting increased market activity.
• Increased buying momentum in the SolarX market would see the price surge to $0.1 soon. 

The SolarX price has emerged as a contender amongst the top gainers today, skyrocketing over 50% to trade at $0.027. Its daily trading volume has exploded by over 2000%, hitting $8.08 million, and its market cap has spiked to $1.39 million. This signals increased interest in the token as investor confidence bolsters. SXCH is now up 26% in a week, 111% in a month, but down 79% in a year. 

Top gainer: #SolarX #SXCH $SXCH increased by 30.21% in 24h! Create your SXCH #crypto alert: https://t.co/ZfR3Kdx7Nl pic.twitter.com/i2V7LWFfoV

— Coinwink (@Coinwink) November 28, 2024

What Is SolarX?

SolarX introduces the world’s first eco-friendly cryptocurrency miner powered by solar energy. Unlike traditional mining projects with high energy demands and environmental impact, SolarX uses renewable energy, making it a unique and sustainable option. At the heart of SolarX’s ecosystem is SXCH, the native token on its Layer 1 blockchain. Built as an ERC20/EVM-compatible fork from Ethereum, SXCH powers various applications on the SolarX platform. 

Superb overview from @Jevl96 , thanks for your support! https://t.co/P4FQ2n07mt

— SolarX (@solarxchain) November 25, 2024

The open-source SolarX blockchain allows projects to use miners as nodes, enabling the community to mint and mine tokens. By involving the SolarX community in mining, these projects gain a secure and fully verified network. The miners serve as complete nodes, handling confirmations, constructions, and approvals.

SolarX Statistical Data

Based on CoinmarketCap data:

• SXCH price now – $0.027
• Trading volume (24h) – $8.08 million
• Market cap – $1.39 million
• Total supply – 399.83 million
• Circulating supply – 50.10 million
• SXCH ranking – #1838

The SolarX price has broken out of the descending triangle, aiming for further gains. Based on the daily chart timeframe, the SXCH token has established strong support at $0.017, steadying the upward momentum in the market. 

The odds continue to favor the upside, supported by multiple technical indicators. To begin with, the Relative Strength Index (RSI) is above the mean level of 50, showing rising momentum. Its position at 60.58 shows there is still more room to the north before SXCH can be considered overbought.

SolarX Price Forecast: Will the Bulls Maintain the Pace?

The Moving Average Convergence Divergence (MACD) is also in positive territory, despite crossing below the signal line. This indicates that the seller’s momentum exceeds buying pressure. However, if the $0.0178 support level holds, bulls could seize the opportunity to push the SolarX price to $0.04. In a highly bullish case, the gains could extrapolate to $0.1.

Conversely, the MACD hints at a sell signal, executed by the MACD line crossing below the signal line. Similarly, the MACD histograms are fading, a sign of waning bullish sentiment.

If the $0.017 gives way, the SolarX price could fall through. Nevertheless, the bullish sentiment for the SOL price would only be invalidated below the $0.012 support. Such a move would also indicate a change in market structure.