Blast

Solana

Billion

Daily

Coin

<ul class="list-ic vertical">
 <li><span>1</span> <a>Solana (SOL) coin price sharply exceeded the $150 mark and noted an upsurge of over 15% intraday.</a></li>
 <li><span>2</span> <a>A double bottom pattern breakout was registered, and long buildup activity was noted.</a></li>
</ul>
<p>The <strong>Solana (SOL) coin price</strong> recorded a sharp upward movement and exceeded the $150 mark. It revealed strong buying interest, and <strong>bullish marubozu candlesticks</strong> were formed in the past two sessions.</p>
<p>The <strong>Solana (SOL) coin</strong> has just initiated the range breakout, and it may stretch toward the $200 mark in the following sessions. The downside is capped at $140, where the upside has an open space.</p>
<p>At press time, the <strong>Solana coin (SOL) price</strong> traded at $163.20 with an intraday rise of 13.20%, reflecting bullishness on the charts. It has a monthly return ratio of -17.89% and 689.25% yearly.</p>
<p>The pair of SOL/BTC is at 0.00246 BTC, and the market cap is $73.39 Billion. Analysts are bullish and suggest that the <strong>SOL price</strong> may continue to deliver the upward movement and reach the $200 mark soon.</p>
<h2 class="wp-block-heading" id="strong-let-s-understand-the-potential-of-solana-coin-through-its-price-action-strong"><strong>Let’s Understand the Potential of Solana Coin Through Its Price Action</strong></h2>
<p>The <strong>Solana (SOL) price</strong> has breached the neckline hurdle of $150 on the daily charts, and <strong>fresh buying momentum</strong> was noted.</p>
<p>Going forward, the coin has escaped its significant moving averages and reached free space. On the contrary, if profit booking came, Solana (SOL) might retest the round mark of $150.</p> <iframe loading="lazy" title="Santiment Chart: Price (SOL), Volume (SOL)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=solana&amp;pt=SOL&amp;df=2023-11-16T18%3A29%3A59.678Z&amp;dt=2024-05-16T18%3A29%3A59.678Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p class="has-text-align-center"><strong>Source: Santiment</strong></p>
<p>As the downward trendline breached, the SOL coin brought <strong>momentum </strong>and surged over 27% this week. Apart from that, the key indicators highlight a strong buy outlook.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-data-reflects-bounce-strong"><strong>Price Volatility and Weighted Sentiment Data Reflects Bounce</strong></h3>
<p>Following the bounce, the price volatility curve reflected a sharp spike of over 35% to the 0.041 mark, revealing the investor speculation.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (SOL), Weighted sentiment (Total) (SOL)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=solana&amp;pt=SOL&amp;df=2023-11-16T18%3A29%3A59.678Z&amp;dt=2024-05-16T18%3A29%3A59.678Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>A bullish wave was noted across the crypto market, and the weighted sentiment data articulates the <strong>positive outlook.</strong></p>
<p><strong>Sharpe Ratio&nbsp;</strong></p>
<p>On a monthly analysis, the Sharpe Ratio indicator referred to positive data, as the SOL coin has <strong>outperformed </strong>in the past weeks.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="481" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-1024x481.png" alt="Solana" class="wp-image-205786" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-1536x721.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-750x352.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192-1140x535.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-192.png 1587w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: Messari</p>
<p>Its value reached the positive mark of 2.65, articulating the buying momentum.</p>
<h3 class="wp-block-heading" id="strong-daily-active-addresses-noted-a-bounce-strong"><strong>Daily Active Addresses Noted a Bounce</strong></h3>
<p>This week, active addresses data noted a significant bounce and highlighted the growth in the <a href="https://www.thecoinrepublic.com/2022/03/19/price-prediction-19-03-bitcoin-btc-ethereum-eth-ripple-xrp-terra-luna-solana-sol/" target="_blank" rel="noopener noreferrer nofollow">Solana Network.&nbsp;</a></p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="370" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-1024x370.jpeg" alt="Solana" class="wp-image-205785" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-1024x370.jpeg 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-300x108.jpeg 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-768x277.jpeg 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-1536x555.jpeg 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-750x271.jpeg 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41-1140x412.jpeg 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-41.jpeg 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: Artemis</p>
<p>At the press time, the active address was noted at 1.2 Million. If the bullish wave and active addresses continue to uplift, the SOL price will soon touch $200.</p>
<h3 class="wp-block-heading" id="strong-futures-open-interest-insights-strong"><strong>Futures Open Interest Insights</strong></h3>
<p>Following the price surge, sharp long additions were made in the past two sessions.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="233" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-1024x233.png" alt="Solana" class="wp-image-205784" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-1024x233.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-300x68.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-768x175.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-750x170.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191-1140x259.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-191.png 1474w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div>
<p class="has-text-align-center">Source: coinglass</p>
<p>The open interest activity noted a surge of over 22.82% to $2.12 Billion in the intraday session, highlighting the bullish momentum. The immediate support levels for the <strong>Solana (SOL) coin</strong> are $155 and $150, whereas the key upside hurdle is around $172, followed by $185.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>The <strong>Solana (SOL) coin </strong>revealed massive bullish momentum and surged over 25% in the last three sessions. Moreover, the coin trades in an <strong>uptrend </strong>and might reach the $200 mark soon.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

Solana (SOL) Seems Ready To Blast Gains: Can It Reach $200 In May?

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