Token

Cryptocurrency

Solana

Million

The Solana price soared 13% in the last 24 hours <a href="https://www.geckoterminal.com/solana/pools/B6LL9aCWVuo1tTcJoYvCTDqYrq1vjMfci8uHxsm4UxTR" rel="noopener noreferrer nofollow">to trade at $163</a> as of 03:46 a.m. EST on trading volume that rose 86% to $4.3 billion.
This comes as Solana staking was enabled for European customers on the Robinhood application for as much as a 5% annual percentage yield (APY).
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 🚨 Announcing a few new updates to Robinhood Crypto 🚨
 First, Solana ($SOL) <a href="https://twitter.com/hashtag/staking?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#staking</a> is now live for eligible European customers 🎉 This allows customers to earn staking rewards on their <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> holdings with the flexibility to unstake at any time.<a href="https://t.co/yioQfCHT2n" rel="noopener noreferrer nofollow">https://t.co/yioQfCHT2n</a> /1 <a href="https://t.co/J6cH0PMDC6" rel="noopener noreferrer nofollow">pic.twitter.com/J6cH0PMDC6</a>
 — Robinhood Crypto EU (@RobinhoodCrypto) <a href="https://twitter.com/RobinhoodCrypto/status/1790638277550031282?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The surge also coincides with a new outbreak of meme coin mania on the Solana blockchain, with new and existing meme coins recording massive volumes.
<h2 id="span-style-font-weight-400-solana-price-set-to-rally-as-the-bulls-target-200-span">Solana Price Set To Rally, As The Bulls Target $200</h2>
<figure id="attachment_521888" aria-describedby="caption-attachment-521888" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-521888" src="https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-16_11-46-21.png" alt="Solana Price Chart Analysis Source: GeckoTerminal.com" width="1113" height="488" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-16_11-46-21.png 1113w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-16_11-46-21-300x132.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-16_11-46-21-1024x449.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-16_11-46-21-768x337.png 768w" sizes="(max-width: 1113px) 100vw, 1113px">
 <figcaption id="caption-attachment-521888" class="wp-caption-text">
 SOLUSD Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure>
The Solana price has been on a downtrend since April, dropping to the $127.89 support, data from <a href="https://www.geckoterminal.com/solana/pools/B6LL9aCWVuo1tTcJoYvCTDqYrq1vjMfci8uHxsm4UxTR" rel="noopener noreferrer nofollow">GeckoTerminal</a> shows.
SOL price bulls were able to use this support to push the price to $156.28. This level has acted as the immediate resistance zone, with SOL retesting it several times, forming a cup and handle pattern.
With SOL breaching the resistance to move to the current price, the bulls are set to push the price even further above as they target 200 and more.
SOL trades gracefully above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the bullish stance, as they provide enough support to push the price further.
Moreover, the Relative Strength Index (RSI) is rebounding from below the 50-midline level to rise to 74, an indication of intense buying pressure as the RSI crosses the 70-overbought level.
The Average Directional Index (ADX) also trades above level 25 as it climbs up, currently at 26, which shows that SOL is currently on a strong bullish trend set to move up.
<h2 id="span-style-font-weight-400-solana-price-prediction-200-in-sight-span">Solana Price Prediction – $200 In Sight</h2>
The Solana price analysis shows a bullish bias, as the bulls aim to capitalize on the formation of the cup and handle pattern to push the price higher above the resistance at $156.28, as they target prices above $200.
Major indicators, including the RSI and the ADX, provide bullish sentiments for optimistic investors, who could push the price higher. The golden cross at $147.46 also signals buying signals for the bulls, which could in turn initiate buying action.
However, with the RSI soaring past the overbought region, there may be an incoming price correction, with $147.51 and $144.09 providing the necessary support for the bulls.
As the SOL price soars, some investors are diversifying their portfolios with new Solana meme coin project Sealana, which has already raced past $1.2 million in funds raised.&nbsp;
This is a key reason why Crypto Boy, a crypto analyst on YouTube boasting almost 40K subscribers, says that $SEAL has the potential to soar 100X after launch.
<iframe title="This Solana Meme Coin can give you 100X Profit | Sealana New Solana Presale Token | Sealana Review" width="640" height="360" src="https://www.youtube.com/embed/8c1tt3qPy58?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
<h2 id="span-style-font-weight-400-sealana-presale-hurtles-past-1-2-million-best-solana-meme-token-to-buy-span">Sealana Presale Hurtles Past $1.2 Million – Best Solana Meme Token To Buy?</h2>
<a href="https://insidebitcoins.com/visit/sealana" rel="noopener noreferrer nofollow">Sealana (SEAL)</a> is based on a light-hearted narrative centered on a seal trader. The character is based on a chubby seal that is immersed in the Solana Sea, spends endless hours in front of his computer and slowly grows bigger as he adopts a sedentary trader’s lifestyle.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 New Meme Crypto ‘Sealana’ Attracts Whales As Solana Price Recovers. <a href="https://twitter.com/hashtag/SolanaMemecoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SolanaMemecoin</a> <a href="https://t.co/zqP73U7Mk3" rel="noopener noreferrer nofollow">pic.twitter.com/zqP73U7Mk3</a>
 — TechStory (@TechStoryin) <a href="https://twitter.com/TechStoryin/status/1787084318080180592?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 5, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Similar to the highly successful Slothana presale, which has soared over 188% since its launch, Sealana is a ”Send SOL” presale without timers, stages, hard caps, or even a white paper. This means that the ICO could end at any time, making now the best time to buy.
To participate in the presale, <a href="https://insidebitcoins.com/visit/sealana" rel="noopener noreferrer nofollow">you can visit the official website to buy SEAL tokens here</a>. One $SEAL costs $0.022.
<h2 id="span-style-font-weight-400-related-news-span">Related News</h2>
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Why Is Solana Price Up Today? SOL Price Pumps 13% On Robinhood Staking As This Solana Meme Coin ICO Soars Past $1.2 Million

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