Solana

Slothana

Coin

The Solana price dropped 1% in the last 24 hours <a href="https://www.geckoterminal.com/solana/pools/B6LL9aCWVuo1tTcJoYvCTDqYrq1vjMfci8uHxsm4UxTR" rel="noopener noreferrer nofollow">to trade at $177.7</a> as of 02:42 a.m. EST on trading volume that plunged 11% to $3.5 billion.
The SOL price fall came amid speculation over whether regulators might in future approve the trading of spot Solana ETFs. CNBC contributor and crypto enthusiast Brian Kelly stirred some excitement over the issue when he said that a spot SOL ETF would be next up.
Kelly’s comments follow increased market expectations that spot Ethereum ETFs will be approved soon. Bloomberg ETF analysts now predict a 75% chance of an ETH ETF being approved, down from odds of ”slim to none” previously.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 NEW: <a href="https://twitter.com/CNBC?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CNBC</a> GUEST PREDICTS THAT SPOT <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> ETF IS PROBABLY NEXT
 <a href="https://t.co/jUtWXkilGT" rel="noopener noreferrer nofollow">pic.twitter.com/jUtWXkilGT</a>
 — DEGEN NEWS 🗞️ (@DegenerateNews) <a href="https://twitter.com/DegenerateNews/status/1793403548400779422?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 22, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The Solana price has been on a tear this month, rising steadily through the confines of the rising channel to hit $188, data from <a href="https://www.geckoterminal.com/solana/pools/B6LL9aCWVuo1tTcJoYvCTDqYrq1vjMfci8uHxsm4UxTR" rel="noopener noreferrer nofollow">GeckoTerminal</a> shows.&nbsp;
Following news of the possibility of spot ETH ETF approvals, rival SOL has been on a downward trajectory.
The slight retrace in the past day led to SOL falling to the lower boundary of the channel, as the bulls aim to push the price to overcome the $188 resistance.
<h2 id="span-style-font-weight-400-solana-price-aims-to-breach-the-upper-boundary-of-the-rising-channel-span">Solana Price Aims To Breach The Upper Boundary Of The Rising Channel</h2>
Major indicators show that SOL is poised for a sustained bullish rally over the rising channel. SOL trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), which offer enough support for the rally at $170 and $151, respectively.
<figure id="attachment_524580" aria-describedby="caption-attachment-524580" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-524580" src="https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-23_10-42-40.png" alt="Solana Price Chart Analysis Source: GeckoTerminal.com" width="1113" height="488" srcset="https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-23_10-42-40.png 1113w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-23_10-42-40-300x132.png 300w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-23_10-42-40-1024x449.png 1024w, https://insidebitcoins.com/wp-content/uploads/2024/05/SOL_2024-05-23_10-42-40-768x337.png 768w" sizes="(max-width: 1113px) 100vw, 1113px">
 <figcaption id="caption-attachment-524580" class="wp-caption-text">
 SOLUSD Chart Analysis Source: GeckoTerminal.com
 </figcaption>
</figure>
Moreover, the Relative Strength Index (RSI) is currently trading at 52 as it rebounds from the 50-midline level. Sustained bullish momentum could push the RSI to the upside, indicating intense buying pressure.
<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 on the 4-hour chart shows a bullish bias, with the bulls aiming to capitalize on the rising channel pattern to propel the price to $200.
The 50-day SMA also crosses above the 200-day SMA, forming a golden cross at $147. A golden cross could encourage the bulls to push SOL to its target.
However, if the bears exert pressure at this level, the bulls could retreat to the critical support level of $170. If the bears breach this mark, the bulls could find further support at $151, which offers a cushion against downward pressure.
As the Solana price aims for a breakout, investors are swarming to the new Solana meme coin presale Sealana (SEAL), which has just surpassed $2.5 million in funds raised.
According to Crypto Boy, a crypto analyst and YouTuber, $SEAL has the potential to surge 100X after its 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-meme-coin-hurtles-towards-3-million-best-solana-meme-coin-to-buy-span">Sealana Meme Coin Hurtles Towards $3 Million – Best Solana Meme Coin To Buy?</h2>
The <a href="https://insidebitcoins.com/visit/sealana" rel="noopener noreferrer nofollow">Sealana (SEAL)</a> character is based on a chubby seal that is fully immersed in the Solana Sea. The character, once sleek and agile, is so absorbed in degen trades that he abandons the initial figure of his youth for a diet of chips and tinned tuna.
<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 Slothana presale, Sealana is a ‘Send SOL’ launch without timers, stages, hard cap, or even a whitepaper. That makes now the optimal to buy because the ICO could end at any time.
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>
<ul>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye" rel="noopener noreferrer nofollow">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!</a></li>
 <li style="font-weight: 400;"><a href="https://www.linkedin.com/pulse/best-meme-coins-invest-top-picks-exponential-gains-calsona-iorle" rel="noopener noreferrer nofollow">Best Meme Coins to Invest in: Top Picks for Exponential Gains! 🚀</a></li>
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/buy-cryptocurrency/best-cheap-crypto/" rel="noopener noreferrer nofollow">Best Cheap Crypto to Buy Now In 2024 – Low Cost Coins</a></li>
</ul>

Solana Price Prediction: As Analysts Ask If A SOL ETF Is Next, This Solana Meme Coin Goes Ballistic In Presale

Table of Contents

Inside Bitcoins

Other articles published on May 23, 2024

Plume Network, a RWA Layer-2, Raises $10M in Seed Funding from Haun Ventures, Galaxy Ventures, an...

Remember When Everybody Liked Polygon? Reasons Behind MATIC’s Disappointing Run and a Look at Pro...

Good News for Ripple (XRP) from Coinbase

Cardano Faces Market Uncertainty Despite Bullish Factors

Bitcoin Cash (BCH) Rises Bullishly with Strong On-Chain Data Support

FTM and Avalanche Holders Cash Out and Dive into Raboo’s Presale for Predicted 233% Returns!

Join our free newsletter for daily crypto updates!