Why Is Solana Price Up Today? SOL Price Pumps 13% On Robinhood Staking As This Solana Meme Coin ICO Soars Past $1.2 Million 

The Solana value soared 13% within the final 24 hours to commerce at $163 as of 03:46 a.m. EST on buying and selling quantity that rose 86% to $4.3 billion.

This comes as Solana staking was enabled for European clients on the Robinhood software for as a lot as a 5% annual share yield (APY).

🚨 Saying just a few new updates to Robinhood Crypto 🚨

First, Solana ($SOL) #staking is now reside for eligible European clients 🎉 This enables clients to earn staking rewards on their $SOL holdings with the flexibleness to unstake at any time.https://t.co/yioQfCHT2n
/1 pic.twitter.com/J6cH0PMDC6

— Robinhood Crypto EU (@RobinhoodCrypto) May 15, 2024

The surge additionally coincides with a brand new outbreak of meme coin mania on the Solana blockchain, with new and present meme cash recording large volumes.

Solana Value Set To Rally, As The Bulls Goal $200

The Solana value has been on a downtrend since April, dropping to the $127.89 assist, knowledge from GeckoTerminal exhibits.

SOL value bulls had been in a position to make use of this assist to push the value to $156.28. This degree has acted because the rapid resistance zone, with SOL retesting it a number of occasions, forming a cup and deal with sample.

With SOL breaching the resistance to maneuver to the present value, the bulls are set to push the value even additional above as they aim 200 and extra.

SOL trades gracefully above each the 50-day and 200-day Easy Transferring Averages (SMAs), a affirmation of the bullish stance, as they supply sufficient assist to push the value additional.

Furthermore, the Relative Energy Index (RSI) is rebounding from beneath the 50-midline degree to rise to 74, a sign of intense shopping for strain because the RSI crosses the 70-overbought degree.

The Common Directional Index (ADX) additionally trades above degree 25 because it climbs up, at the moment at 26, which exhibits that SOL is at the moment on a powerful bullish development set to maneuver up.

Solana Value Prediction – $200 In Sight

The Solana value evaluation exhibits a bullish bias, because the bulls goal to capitalize on the formation of the cup and deal with sample to push the value greater above the resistance at $156.28, as they aim costs above $200.

Main indicators, together with the RSI and the ADX, present bullish sentiments for optimistic buyers, who might push the value greater. The golden cross at $147.46 additionally alerts shopping for alerts for the bulls, which might in flip provoke shopping for motion.

Nonetheless, with the RSI hovering previous the overbought area, there could also be an incoming value correction, with $147.51 and $144.09 offering the mandatory assist for the bulls.

Because the SOL value soars, some buyers are diversifying their portfolios with new Solana meme coin mission Sealana, which has already raced previous $1.2 million in funds raised. 

This can be a key motive why Crypto Boy, a crypto analyst on YouTube boasting nearly 40K subscribers, says that $SEAL has the potential to soar 100X after launch.

Sealana Presale Hurtles Previous $1.2 Million – Finest Solana Meme Token To Purchase?

Sealana (SEAL) is predicated on a light-hearted narrative centered on a seal dealer. The character is predicated on a chubby seal that’s immersed within the Solana Sea, spends limitless hours in entrance of his pc and slowly grows larger as he adopts a sedentary dealer’s life-style.

New Meme Crypto ‘Sealana’ Attracts Whales As Solana Value Recovers.
#SolanaMemecoin pic.twitter.com/zqP73U7Mk3

— TechStory (@TechStoryin) May 5, 2024

Just like the extremely profitable Slothana presale, which has soared over 188% since its launch, Sealana is a ”Ship SOL” presale with out timers, levels, onerous caps, or perhaps a white paper. Which means that the ICO might finish at any time, making now the most effective time to purchase.

To take part within the presale, you may go to the official web site to purchase SEAL tokens right here. One $SEAL prices $0.022.

Associated Information

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