Solana has had a volatile month, losing nearly 22% but still holding its position above the crucial $180 support level. However, investor optimism is still high, with many traders expecting a rally and VanEck’s bullish prediction for 2025.

Meanwhile, Solaxy (SOLX) is a new Layer-2 project that is creating a lot of buzz in the Solana ecosystem. It broke through the $5 million barrier in its presale just a few days ago.

Could these two projects be set to boom in 2025?

SOL Rebounds From Crucial Support Level – Rally on the Cards?

Solana saw a nearly 10% drop over the past week and a 22% fall in the past month.

It then experienced a 9% gain over the past 3 days after rebounding from its $180 support. However, its trading volumes declined during this time, raising speculation if this slight recovery is the calm before another storm.

The altcoin also has found dynamic support near the 200-day EMA, which will likely provide reliable support in its upcoming rally.

Another reason the community is bullish is that Solana’s dominance in DEX activity and the meme coin space has still ensured its position in the spotlight.

The popular American asset management firm VanEck recently predicted Solana could reach $500 in 2025.

VanEck 10 Crypto Predictions for 2025

Prediction #1: Crypto bull market hits a medium-term peak in Q1, sets new highs in Q4. We project Bitcoin to be valued at around $180,000, Ethereum to trade above $6,000, Solana to exceed $500, and Sui to surpass $10.

— VanEck (@vaneck_us) December 13, 2024

According to Coinglass data, SOL’s long/short ratio on Binance stood at around 4.13 at the time of writing, reaffirming traders’ strong bullish sentiment.

This could be partly because SOL has been consolidating on its daily chart for a few weeks and forming the bullish flag-and-pole pattern.

Buyers should wait for a close above this pattern to gauge SOL’s immediate growth potential.

Meanwhile, new project Solaxy has ca